Day Traders Diary

6/6/23

The major averages were quiet but finished in the green on no news outside the golf sector. The S&P 500 rose 10 points, the Dow Jones Industrial Average rose 10 points as well while the Nasdaq rose 46 points., its highest close since 2023.

Merck and UnitedHealth limited the gains in the blue-chip average. Merck is suing the U.S. government over a law that lets Medicare negotiate drug prices while UNH recently submitted a full-cash proposal to combine with Amedisys, Inc. AMED, a pioneer of home health, high-acuity care and hospice.

In the cryptocurrency space, Coinbase fell 12% after the SEC sued the crypto company alleging Coinbase was acting as an unregistered broker and exchange. Bitcoin actually rose more than 5% on the day.

Apple had a quiet day after their Worldwide Developers Conference. Apple debuted its highly anticipated virtual reality headset as well as new software at. They also disclosed they will no longer use Intel chips for the Mac books.

The markets were quiet today but may get more volatile ahead of the Federal Reserve policy meeting next week.