Day Traders Diary

6/5/19

The major averages closed up nearly 1% following yesterday's 2% gain, the second best trading day for the year. Weaker-than-expected jobs data this morning added support to the theory the Fed could cut rates later in the year. Yesterday, the Fed Chairman made dovish comments saying the central bank will keep an eye on current developments in the economy, and would do what it must to sustain the economic expansion.   

Apple rose nearly 2% as CEO Tim Cook said China had not targeted the tech giant despite ongoing trade tensions. American Airlines rose 4% on insider buying.

On the earnings front, Salesforce (CRM) rose 5% after beating top and bottom-line estimates and raising its FY20 guidance. Campbell Soup (CPB) jumped 10% after beating earnings estimates.