Day Traders Diary
The major averages reached milestones today with The Dow Jones, the S&P 500 and Nasdaq Composite all closing at record levels. The Dow finished up 114 points. The S&P 500 climbed 0.4% to a fresh all-time high of 3,078. The Nasdaq advanced 0.6% to 8,433, also reaching record levels.
Over the weekend, Commerce Secretary Wilbur Ross said that good progress was made in "Phase One" negotiations. Companies may soon be granted licenses to work with Huawei and auto tariffs on imported products may not be imposed.
The S&P 500 energy sector rose 3.2% surging past other sectors benefitting with higher oil prices $56.69/bbl, +0.48, +0.9%. Exxon was up 2.97% while Chevron rose 4.61%.
In Corporate news, McDonald's dropped 2.7% as the CEO and Global Chief People Officer stepped down. The CEO Steve Easterbrook stepped down after using "poor judgement" in having a consensual relationship with an employee. No explanation was given why the other executive stepped down. Under Armour fell 19% on lackluster sales activity and confirmed news the SEC and Department of Justice are investigating their accounting practices.
After hours, Shake Shack is down 15% on earnings. Uber is down 5% following earnings.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.