Day Traders Diary
4/24/24
The major averages closed mixed as a flood of earnings are coming in. The Dow Jones Industrial Average fell 42 points as Boeing reversed course and closed in the red following earnings. The S&P 500 was up a point while the Nasdaq rose 16 points thanks to earnings from Tesla and Texas Instruments.
The earnings reports are coming in from all sectors of the economy. Tesla rose 12% helping lift the Nasdaq and S&P 500 on encouraging earnings. Texas Instruments rose 5% lifting the chip sector even as Nvidia fell. Boeing rose 2% on the open, but then fell into the red dragging the Dow lower on a debt downgrade. Visa was modestly higher on earnings as the rest of the financial sector was weaker. Other companies reporting earnings included AT&T, Humana, Chubb, Masco and guidance from Baker Hughes.
More than 25% of S&P 500 have reported earnings thus far. Of those companies, 79% have beaten earnings estimates, FactSet data shows.
Bonds, oil and gold were quiet today. Bitcoin was down 2%.
The S&P 500 and Nasdaq are coming off a second straight winning session, as Wall Street tries to regain its footing following a recent string of losses.
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