Day Traders Diary

4/29/25

The major averages continued their rally with the S&P 500 notching its sixth straight up day on optimism of trade tariff news. The Dow Jones Industrial Average rose 300 points or 0.75%. The S&P 500 rose 32 points or 0.58% while the Nasdaq rose 95 points or 0.55%

A broad market rally today with a plethora of earnings today from the likes of Nucor, Waste Management, NXP Semi, Cadence Design, BP, GM, UPS, Coke, Honeywell, Sherwin Williams, Kraft, Sysco, Sofi, Pfizer, Royal Caribbean, Regeneron, Hilton, Adidas, Novartis and Smithfield Foods.

Honeywell was a diamond up 5% even though tariffs could hit them. BP was a dog as weak economic data and tariff concerns are hitting demand for oil.

In the tech space, earnings this week will come from Meta Platforms, Microsoft, Apple and Amazon.

Interest rates were modestly lower ahead of a big week for economic data. The 10-year Treasury yield declined 4 basis points to 4.1%. The 2-year Treasury yield fell 2 basis points to 3.65%.

Oil was lower by 3% to $60 a barrel. Gold was modestly lower while bitcoin was modestly higher.

The month raps up tomorrow and after a horrible start to the month, the major averages gave clawed back regaining most of the losses with only the Dow still in the red for the month.