Day Traders Diary

3/13/24

More volatility in the markets and the tech space as the major averages open mixed today. The Dow Jones Industrial Average is higher by 135 points or 0.35% led by 3M, Chevron, Home Depot and Caterpillar. The S&P 500 is down 4 points while the Nasdaq is down 80 points or 0.5% led lower by AI chip stocks.

Nvidia, AMD and Micron are down 3% or more. Apple, Meta and Microsoft are modestly lower as well. Tesla is down 3% on a downgrade with a $125 price target. GE Healthcare Technologies is down 4% after a big run. The company is doing a secondary offering. Dollar Tree is down 13% after the discount retailer reported lackluster fourth-quarter results.

To the upside, William Sonoma is jumping 14% on earnings. The oil space is having a good day. Ukraine attacked Russian oil refineries yesterday causing some major damage in the short term.

Wall Street is coming off a winning session, with S&P 500 and Nasdaq popping more than rallied more than 1% on Tuesday, after February U.S. inflation data came in about in line with expectations.