Day Traders Diary

4/18/24

The major averages are higher to start the day with the Dow Jones in the lead as corporate earnings continue to come in. The Dow Jones Industrial Average is up 230 points led by UnitedHealth Group for a third day. The S&P 500 is up 9 points while the Nasdaq is up 12 points.

On the earnings front, Kinder Morgan, Discovery Financial, CSX, DR Horton, Alaska Air, Ally Financia, Comerica and KeyCorp are higher on earnings. To the downside, we have Las Vegas Sands, Equifax, Alcoa, and Tiawan Semi.

Tiawan Semiconductor is down 4% even as earnings beat expectations. The chip stocks are mixed today with Nvidia and AMD trying to rally. Tech in general has struggled so far this month on pace for a fourth straight down week, longest streak since December of 2022.  The Dow and S&P 500 are also negative for the week.

More than 12% of S&P 500-listed companies have now reported earnings in what's shaping up to be a positive season. Of those that have already posted results, 73% have surpassed Wall Street expectations for their individual performances, according to FactSet.