00:00 Jared
We have record closes for the Dow, the Nasdaq and the S&P 500. Let's review the intraday price action after the uh pop near the opening bell really didn't do much except drift a slightly higher all day long. There's a Dow up uh 616 points to end the day. And here's the Nasdaq, a little bit less than that, 71 basis points or 7/10ths of a percent. And the S&P 500, a little bit higher than that, but very similar charts among the three.
00:35 Jared
And the S&P 600 up over 2%. So the small caps flying high today. And by the way, this is the best day for most of these indices going back to, I believe, August 12th. So, don't quote me on that, but it's been a few weeks since we've seen moves like this. And let's just skip over to the heat maps that we have. We're going to check out the sector action. Energy kind of spoiled the party here down a whopping one basis point. Everything else closed in the green.
01:05 Jared
XLB is in the upper left, that's materials, that was up 2.06%. Followed by consumer discretionary thanks to Tesla. Then you got health care, financials, real estate, communication services, all of those up more than 1 and a half percent. And if we break down the Nasdaq 100, take a peek inside. You can see the mega caps actually split here. We got some weakness in Nvidia, Amazon, Meta and Broadcom. Broadcom down 2 and a half percent.
01:36 Jared
but that didn't disrupt the party. We got big moves from Apple up almost 1 and a half percent, and as I said, Tesla up 6%. Also notable is Micron up 7 and a half percent. Taking a look at the Dow Industrials, Boeing is a standout that was down 3% to the 3% to the downside. But other than that, pretty nice day all around three uh 3M up almost 4%, Sherwin Williams up over three, Home Depot up over two and United Health nearly two.
02:11 Jared
And I don't punch up the transports very often, but check this out. Only Delta Airlines in the red today. Aside from that, we got some standouts from CSX, that's up two and a half percent, and JB Hunt up 3%. It was a really kind of broad-based. I'm going to go for the meme stocks one more time because we really had some huge days for Open. Open door up 80%, Circle up 17%, BuzzFeed up 9%. So, a lot of risk on today, not to mention. I didn't even get to the IPO of the day figure, but that was up too.
02:40 Speaker A
All right, thank you Jared. And Inez, over to you. Taking a look at commodities, oil prices feeling the pressure. Tell us more.
02:50 Inez
Yeah, and that's because of over supply worries. You have the IEA, the International Energy Agency which said that world uh oil supply hit a record in August and the agency is saying that there will be uh supply uh going faster, uh growing faster this year and also going into 2026. So what the IEA is now anticipating is a supply of 2.7 million barrels per day, a rise of 2.7 million barrels per day. That's up from 2.5 million that they had forecast previously.
03:34 Inez
Also, the agency is expecting global supply to be at around roughly 4 million barrels per day in the first half of 2026. So that's some of the pressure that you are seeing with oil prices. Now, oil prices had started the morning lower anyways and that is because of inventory numbers in the US that came in higher than expected. But look, a lot of this over supply worry is because OPEC Plus has been increasing production.
04:09 Inez
and you also have non OPEC members that have been also increasing production as well. So, year to date, rent is down about 10%. You've got WTI that's down about 12% year to date. That doesn't change the thesis from Wall Street. They're expecting oil prices to end the year a bit lower than what we're seeing right now and for them to continue to go lower in 2026.
