Day Traders Diary
The major averages closed modestly lower after President Donald Trump renewed his attacks on China, decreasing hope the two largest world economies will reach a trade deal. The Dow Jones Industrial Average closed down 23 points at 27,198 after dropping as much as 151.49 points. The S&P 500 slipped 0.3% while the Nasdaq Composite dipped 0.2%.
On the earnings front, Procter & Gamble was a stand out up 3% to new all-time highs following earnings. Merck closed up a percent after beating top and bottom-line estimates and raising its full-year guidance above consensus.
Under Armour dropped 12% following earnings and weak guidance. Beyond Meat declined 12% after missing earnings estimates and announcing a 3.25 million share proposed public offering of common stock so the insiders could get out. Capital One dropped 5% after announcing a security breach that affected around 100 million individuals in the United States.
After hours, Apple jumped 4% following strong earnings.
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