The bell is bringing an end to the training day at the NYSC, Stag Industrial, ringing the bell, and at the NASAC, MAKO Mining, doing the honors. Welcome to closing bell over time. We are live from studio via at the NASAC market site. I'm Melissa Lee, along with Mike Santoli. Stocks, mostly higher once again today, small loss for the Dow. But here's the headline. The S&P 500 closing at a record its first close above 7,000. The NASAC with its 11th update in a row, also closing at a record. First close above 24,000, much more in the market straight ahead.

Also on our radar at the close. Though down today, the Dow transports also near record highs. Some are saying this is a

bullish sign for the economy. We'll dig a little deeper. Plus, whether it's chips or power,

AI buildout demand, remaining strong, and we'll get you ready for tomorrow's big earnings

report, which is from Netflix. So obviously follow-through. We talked about a 10-day rally.

Is it convincing, though, in your view?

I think it was constructive in broad outlines, mostly because the bellwether-type groups of this

bull market have gotten back in gear to some degree. But, you know, again, it's not been very

inclusive. It's not really been responsive to news. It's been responsive to positioning dynamics.

And so it's been a matter of people getting too negative at the lows. You had strategists

downgrading their urine targets. All those things that fall into place that say the pain trade is

higher. So it's in train at this point. And I do think you have to respect the 10, 11% gain in 10 days

as being just not a fluke.

That being said, you know, Dow's 1,600 points off its highs.

Banks have done fine in response to their earnings, but they haven't exactly raced ahead.

They're still below their highs.

And I guess we have to ask the question if now the market is setting itself up to be vulnerable

to some kind of downside surprise when it comes

to oil or Iran or earnings. Yeah. What was not convincing to me at least was a volume picture.

When you take a look at the cues in particular, it was well south of its average volume for the past 30

days. Also, within the Mag 7, we saw pretty much participation across the board, particularly in Tesla and Microsoft.

That's where you saw the conviction buying that. That's where you saw the volume above the average.

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