June 4, 2019

The Dow Jones Industrial average is on a 6 week losing streak, the longest such streak in 8 years, so the market was due for a bounce and that bounce came today after conciliatory comments from Mexico, China & the Fed.  The Dow opened up 250 points and never looked back.

At the close:

  • DOW +512 to 25332
  • S&P +59 to 2803
  • NASDAQ +194 to 7527
  • OIL +.35 to 53.60
  • GOLD +4 to 1326

In corporate news shares of luxury jeweler Tiffany, down 30% in the last 12 months, were 2.6% higher after the company reported better than expected net income for the most recent quarter. Netflix was 5% higher on an analyst upgrade to buy with a price target 25% above last nights close.  Retailers Lands End, down 40% in the last 12 months, closed 7% higher after the company reported a quarterly loss that was smaller than expected and a strong increase in same store sales.