Day Traders Diary

5/1/19

The major averages finished in the red after the Federal Reserve hinted they may have to raise rates before year end. Ten of the 11 S&P 500 sectors finished lower, led by energy (-2.2%), materials (-1.8%), and consumer staples (-1.2%). The weakness in the energy space was also driven by lower oil prices. Before the Fed comments, the averages were performing well with the S&P 500 reaching new all-time highs. Apple was a standout to the upside up 4.9% to a six month high following better than expected earnings, a dividend hike of 5% and an additional $75 billion added to their buyback.