Day Traders Diary

5/6/25

The major averages were lower once again as no trade deals on the tariff front while earnings and cautious comments from CEOs are giving investors pause ahead of the Federal Reserve's policy decision tomorrow. The Dow Jones Industrial Average fell 389 points, or about 0.95%. The S&P 500 shed 43 points 0.7% while the Nasdaq Composite dropped 154 points or 0.87%.

Another quiet day for news as Trump met with Canadian Prime Minister Mark Carney on Tuesday afternoon, marking the start of negotiations between the two leaders since Carney assumed office earlier this year.

Shares of Tesla shed more than 2% after the company's new car sales in Britain and Germany fell to their lowest in more than two years while Ford Motor was a diamond today up 2% on strong earnings even as they withdrew guidance for the rest of the year.

Tech was quiet today as an AI conference took place in California at the Mulkin conference. Palantir fell 11% even as earnings and sales surged.

Yields were quiet ahead of the Fed meeting tomorrow. The 10-year Treasury yield was lower by more than 3 basis points to 4.30%. The 2-year Treasury yield fell 5 basis points to 3.79%.

Gold was higher again while oil jumped 3% after setting a four year low yesterday. Bitcoin was modestly higher.