Stocks Start Slow, Finish Well To Open Third Quarter

Starting off the third quarter by stumbling into the red, US stock indices bounced off their early lows to erase the losses and post gains late in the afternoon.

With the notable exception of the NYSE Composite, the major exchanges posted small advances in what really looked like coordinated buying by forces unseen (hint: central banks, led by the Federal Reserve and the PPT).

Most of the rest of the world finished lower on the day, so the US market appears to be an outlier, because, well, America rocks, ya know.

Monday's finish was nothing more than market noise and should be regarded as such. Tuesday's session is shortened so that the brokers and dealers can beat the traffic out to the Hamptons. The exchanges will close at 1:00 pm EDT and remain closed on Wednesday, July 4, in appreciation of Independence Day.

Dow Jones Industrial Average July Scorecard:

Date	Close	Gain/Loss	Cum. G/L
7/2/18	24,307.18	+35.77	+35.77

At the Close, Monday, July 2, 2018:
Dow Jones Industrial Average: 24,307.18, +35.77 (+0.15%)
NASDAQ: 7,567.69, +57.38 (+0.76%)
S&P 500: 2,726.71, +8.34 (+0.31%)
NYSE Composite: 12,485.58, -18.67 (-0.15%)

In Celebration of Dow 17,000 and a Boffo NFP Report, the Yellen Shriek

Money Daily stopped being a daily post blog in March, 2014. While the name remains the same, the posts are now on an intermittent basis, as conditions warrant, though it is advised to read the archives (from 2006-2014) regularly, even daily, for insights and historical perspective.

A stroke of brilliance this morning:

The Lord's Prayer, revised as "The Yellen Shriek" for Wall Street:

Our fiat,
Which art in dollars,
hollow be thy worth.
Thy stocks go up,
thy vix be down
on CBOE as it is on Wall Street.
Give plebes this day their daily crumb of bread
and deliver us thy dividends,
as we distribute to the one percent.
And lead us not into recession,
but deliver us more POMO,
for the kingdom and the power,
and the glory resides at the Fed,
QE forever and ever,
Amen.

Go viral, and, have a Happy 4th of July, AKA, INDEPENDENCE DAY!