The major averages perform well ahead of tech giant, Nvidia’s earnings tonight. The Dow Jones Industrial Average is 114 points. The S&P 500 is up 10 points while the Nasdaq is higher by 25 points.

The S&P 500 closed at another new high as tech giant Nvidia accounts for nearly 8% of the S&P 500. Nvidia’s stock was quiet today, but is trading near all time highs with a market cap over $4 trillion. Chip stocks and tech in general were muted today.

Retail was in focus with earnings. Kohls was a diamond up 24% on earnings and guidance. To the downside, we had William Sonoma, Abercrombie and Fitch, Foot Locker and JM Smucker. Smuckers was a dog down nearly 4% on rising tariff costs.

Bonds were quiet with no economic numbers. The 30-year Treasury yield rose a basis point 4.91% after rising as high as 4.95%. The 10-year Treasury yield was down 2 basis points to 4.24% while the 2-year yield was lower by 5 basis points to 3.62%.

In the commodity space, oil was up a percent as US puts tariffs on India to force their hand on buying Russian oil. Gold was modestly higher while bitcoin and the cryptocurrencies were higher as well.

All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it’s usage.