Day Traders Diary

4/24/24

The major averages closed mixed as a flood of earnings are coming in. The  Dow Jones Industrial Average fell 42 points as Boeing reversed course and closed in the red following earnings. The S&P 500 was up a point while the Nasdaq rose 16 points thanks to earnings from Tesla and Texas Instruments.

The earnings reports are coming in from all sectors of the economy. Tesla rose 12% helping lift the Nasdaq and S&P 500 on encouraging earnings. Texas Instruments rose 5% lifting the chip sector even as Nvidia fell. Boeing rose 2% on the open, but then fell into the red dragging the Dow lower on a debt downgrade. Visa was modestly higher on earnings as the rest of the financial sector was weaker. Other companies reporting earnings included AT&T, Humana, Chubb, Masco and guidance from Baker Hughes.

More than 25% of S&P 500 have reported earnings thus far. Of those companies, 79% have beaten earnings estimates, FactSet data shows.

Bonds, oil and gold  were quiet today. Bitcoin was down 2%.

The S&P 500 and Nasdaq are coming off a second straight winning session, as Wall Street tries to regain its footing following a recent string of losses.