Day Traders Diary

4/23/22

The major averages were higher once again as the corporate earnings season picks up as investors build on the strong gains from the previous session. The Dow Jones Industrial Average rose 263 points, or 0.69%. The S&P 500 rose 59 points or 1.2% while the Nasdaq Composite rose 1.59%.  

As we wait for the Magnificent seven to report this week, we had earnings from Spotify, up 11% after beating first-quarter estimates and issuing rosy second-quarter guidance. GE Aerospace jumped 8% after beating and raising guidance. Kimberly Clark rose 5% on strong earnings and volume. UPS was up 2% after the delivery giant posted better-than-expected quarterly earnings. PepsiCo was a dog today down 3% even as they beat expectations. JetBlue was down even more down 18% after cutting full year guidance. 

Tesla was higher all day after reporting earnings after the bell. Meta Platforms is Wednesday afternoon. Google-parent company Alphabet and Microsoft round out the technology-heavy earnings week on Thursday.

Roughly 20% of the S&P 500 has reported earnings through Tuesday morning. Of those companies, 76% have beaten analyst expectations, FactSet data shows.

Interest rates and bonds were quiet today. The price of oil was quiet as well hovering in the low $80 a barrel level. Bitcoin was quiet after jumping 6% over the weekend after their "halving."

Tuesday's moves come after the S&P 500 snapped a six day losing streak as all three major averages rose to start the week. Investors bought the dip in tech stocks after a recent sell-off in key names such as Nvidia.