Day Traders Diary
The major averages hit fresh record highs following more corporate earnings and encouraging economic data. The Dow Jones Industrial Average gained 267 points, or 0.9% to close at 29,297. The Nasdaq Composite advanced 1.1% to 9,357 with Microsoft hit record levels while Google-parent Alphabet's market cap topped $1 trillion for the first time.
In the bank space, Morgan Stanley jumped 6% while Charles Schwab rose 4% on earnings. Around 7% of S&P 500 companies have reported earnings thus far, according to FactSet data. Of those companies, 76.5% have posted better-than-expected earnings.
Notable laggards included BNY Mellon down 7% on earnings. Tesla fell a percent on a downgrade.
U.S. Treasuries finished on a lower note amid the risk-on mindset in equities. The 2-yr yield increased two basis points to 1.57%, and the 10-yr yield increased two basis points to 1.81%. The U.S. Dollar Index increased 0.1% to 97.30. WTI crude rose 1.1%, or $0.62, to $58.48/bbl.
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