7/20 Closing Commentary

U.S. stocks closed slightly higher today, with the Nasdaq at a record high, as investors digested earnings.

Greece is now in the “rear view mirror” and technology (IT) companies drove gains. Gold plunged to its lowest in five years and oil prices fell due to a growing supply and ongoing concerns about Iran’s oil reserves coming available for sale should a deal go through.

Investors are now turning their attention to corporate earnings. So far, 70 percent of companies have reported earnings above analyst expectations, above the 63 percent average beat rate since 1994.

The Dow rose 13.96 points, or 0.08 percent, to 18,100.41, the S&P 500 gained 1.64 points, or 0.08 percent, to 2,128.28 and the Nasdaq added 8.72 points, or 0.17 percent, to 5,218.86.

The S&P 500 is less than 3 points from its record close of 2,130.82 on May 21.

Things to watch out for tomorrow:
Apple announces earnings after the close. The stock is currently at $132 and some analysts believe it will go to $145

Replicate the world’s best investments at [Instavest](www.instavest.com).