Day Traders Diary
The major averages closed mixed as more earnings keep flooding in. The Dow Jones Industrial Average dipped 9 points to 29,186. Earlier in the day, the Dow was up more than 120 points. The S&P 500 eked out a small gain, closing at 3,321, also reaching an intraday record. The Nasdaq Composite notched an intraday all-time high as well, advancing 0.1% to 9,383.
Tech once again led the markets with Big Blue, IBM rising 3% on the back of quarterly numbers that beat analyst expectations. The chip sector continues to perform well with Intel up 3% following an upgrade. Apple was modestly higher while Tesla shares jumped 4% as the electric car maker's market cap broke above $100 billion for the first time. Netflix closed down 3.6% following earnings. Boeing fell more than 1%, dragging the Dow into the red amid renewed concerns over the 737 Max.
So far, more than 10% of S&P 500 companies have posted their latest quarterly results. Of those companies, 75% have posted better-than-forecast earnings.
U.S. Treasuries finished little changed in a muted session. The 2-yr yield declined one basis point to 1.51%, and the 10-yr yield was unchanged at 1.77%. The U.S. Dollar Index finished flat at 97.52.
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.