The major averages performed well with the Nasdaq and Nvidia making new all time highs even as President Trump continues to send out letters to countries regarding pending tariffs. The Dow Jones Industrial Average rose 217 points, or 0.49%. The S&P 500 rose 37 points or 0.61%. The Nasdaq rose 192 points or 0.95%.

Today’s rally was led by tech once again with Nvidia up 1.8%, crossing the $4 trillion market cap mark. Broadcom was up 2% while the rest of the chips were quiet.

The rest of the big cap techs were higher except for Tesla.

Interest rates dropped pretty sharply today from the Fed minutes indicate the Fed is expecting to lower rates later in the year. The 10-year Treasury yield fell 8 basis points to 4.34%. The 30-year bond yield was down 7 basis points to 4.87%. The 2-year Treasury yield was down 5 basis points to 3.86%.

 The broader market was mixed today. Telecom, consumer defensive, real estate and energy were lower.

The price of oil was modestly lower while gold and bitcoin were higher.

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