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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Day Traders Diary


The major averages finished near the session lows following disappointing earnings and guidance. The Dow Jones Industrial Average closed down 1289 points at 27,140. The S&P 500 also declined 0.5% to close at 3,003. The Nasdaq Composite lagged, sliding 1% to 8,238. Both the S&P 500 and Nasdaq hit record highs in the previous session.

Facebook initially gained 2% following strong earnings, but the stock succumbed to profit-taking. Tesla dropped 13% on disappointing earnings. Ford fell 7%, PayPal dropped 6% and American Airlines declined 8% on earnings. Boeing dropped 3% continuing its drag on the markets

About a third of S&P 500 companies have reported second-quarter earnings so far. Of those companies, 75% have posted a better-than-forecast profit, according to FactSet. Alphabet, Amazon, Intel, Starbucks and Mattel are all scheduled to report after the close Thursday.

After hours, things got a little better for the tech sector. Google rose 8% on better than expected earnings and a $25 billion share buyback. Intel jumped 5% on strong earnings and news Apple would buy their modem business for a billion dollars. Amazon was modestly lower after missing earnings guidance.

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