The major averages closed mixed and off the lows thanks to easing geopolitical fears even as the US moves many of their battleships to the Middle East. The Dow Jones Industrial Average fell 285 points or 0.58%. The S&P 500 rose 2 points while the Nasdaq rose 65 points. The 30-stock Dow fell 0.5% on the week. The S&P 500 and Nasdaq fell 0.3% and 0.1% on the week.

The rally today was mostly in the big cap techs and energy. Microsoft rose 3%, Amazon and Meta were up 2% while Nvidia rose 1.5%. AMD was up 2% while Intel was a dog down 17% following earnings with weak guidance.

Banks took it on the chin today. Capital One fell 7% following earnings and the disclosure of an acquisition. President Trump has been after the big banks to lower credit card interest rates for at least a year.

Interest rates were quiet today. The 10-year Treasury yield was down a basis point to 4.23%. The 30-year Treasury yield declined to 4.83%. The 2-year Treasury note yield dropped a basis point to 3.59%.

In the commodity space, oil rose 3% over $60 a barrel once again as the US sends their armada to Iran with new sanctions on the country. Gold continues its stellar run, up a percent to day to nearly $5000 an ounce. Three months ago, gold was $4000 an ounce. A year ago, gold was $2600 an ounce. Not to be outdone, Silver has done even better, tripling in the last year. Crypto currencies have not participated in the commodity rally so far in 2026.

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