The major averages closed higher after opening mixed this morning following election and day and more earnings flooding in. The Dow Jones Industrial Average rose 225 points, or 0.48%, to close at 47,311. The S&P 500 rose 24 points while the Nasdaq Composite advanced 151 points or 0.65% to 23,499.

On the earnings front, AMD opened lower, but then rebounded through out the day on earnings last night. All the chips performed well today outside Nvidia which dipped into the close. Super Micro fell 11% on earnings. Uber and Palantir continued their decline from their earnings reports the other day.

In the drug space, Amgen jumped 7% on earnings. Teva rose 20% on strong earnings. Eli Lilly had a good day as fears subsided for at least a day on price drop for their obesity drug.  

Interest rates rose on strong economic data and skepticism around the legality of the Trump administration’s tariffs. The 10-year Treasury rose 6 basis points to 4.15%. The 2-year note climbed 5 basis points to 3.63%. The 30-year bond yield advanced more than 6 basis points to 4.74%.

In the commodity space, oil fell below $60 a barrel. Gold was modestly higher. Crypto currencies rebounded over 2% after closing in on bear market territory.  

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