Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

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

Check the background of this firm on FINRA's BrokerCheck.

Day Traders Diary

10/9/19

The major averages snapped a three-day losing streak ahead of U.S.-China trade talks starting tomorrow. The Dow Jones Industrial Average gained 180 points, or 0.7% to 26,346. The S&P 500 climbed 0.9% while the Nasdaq Composite advanced 1%. The averages narrowed their gains heading into the close after Reuters reported China had lowered their expectations for these talks.

Earlier in the day, Bloomberg News reported China is prepared to accept a partial trade deal as long as no more tariffs are imposed by President Donald Trump. The report added that Beijing would offer non-core concessions like purchases of agricultural products in return, but not budge on major sticking points between the two nations.

Separately, the Financial Times reported that officials in China are offering to increase purchases of U.S. agricultural products, in order to reach a partial deal.

Apple shares contributed to the gains, rising 1.3% after an analyst at Canaccord Genuity hiked his price target on the iPhone maker to $260 per share from $240. Tech was the best-performing sector in the &P 500, gaining more than 1%.

Johnson & Johnson fell 2% on a $8 billion judgement which will get appealed. American Airlines rose 3.1% after pre-announcing in-line third quarter results and delaying the return date for its Boeing 737 MAX.  

U.S. Treasuries finished the session on a lower note. The 2-yr yield increased four basis points to 1.46%, and the 10-yr yield increased five basis points to 1.59%. The U.S. Dollar Index finished little changed at 99.13. WTI crude declined 0.1% (-$0.03) to $52.63/bbl.

All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.