Day Traders Diary

4/17/25

The major averages closed mixed to end this abbreviated holiday week ahead of Good Friday as the tariff talks continue with the EU and China. The Dow Jones Industrial Average fell 527 points or 1.33% led by weakness in UnitedHealth. The S&P 500 rose 7 points while the Nasdaq hugged the flatline down 20 points. On the week, the Dow and Nasdaq pulled back 2% while the S&P 500 shed nearly 1%.

Investors have been on alert since Trump first announced his plan for reciprocal tariffs, dating back to April 2. The Dow and S&P 500 have tumbled more than 6% since then, while the Nasdaq has dropped around 7%.

UnitedHealth started the day with its worse day in 25 years, down over 20% as they missed earnings and guidance due to higher costs. Most of the sector was lower today.

Yesterday's dog, Nvidia was down another 3% today as investors continue to figure out their tariff issues. Many of the techs were lower along with many of the big cap techs. Apple was one of the few higher, up a percent on an upgrade and a $250 price target.

This morning President Donald Trump said he expects trade deals to be reached with China and the European Union. That comes a day after Federal Reserve Chair Jerome Powell spooked investors by saying Trump's tariff policies could drive up inflation in the near term and cause challenges for the central bank.

Bonds were quiet today with the 10-year Treasury yield up 4 basis points to 4.32%. The 2-year Treasury yield ticked up a basis point to 3.8%.

The star commodity so far this year, gold was quiet today. Oil rebounded 3% while bitcoin was up a percent.