Day Traders Diary

6/11/19

The major averages ran out of steam with the Dow Jones Industrial Average snapping a six-day winning streak. The Dow Jones Industrial Average finished down 10 points after rising as much as 185 points earlier in the day. The S&P 500 closed down a point while the Nasdaq closed modestly higher.

Global stocks are higher as the Chinese state news agency Xinhua said the country would let local governments use bonds to finance infrastructure projects. The Shanghai Composite jumped 2.6% overnight, while the European markets rose a percent.

Trade tensions have slowed down the world's second-largest economy, but investors are hopeful the two sides can make progress toward a deal in a potential meeting between President Trump and President Xi at G-20 later this month.

Stocks are on pace for sharp monthly gains after a strong decline in May. The Dow, S&P 500 and Nasdaq are all up 5% for June. In May, the Dow and S&P 500 dropped more than 6% each while the Nasdaq slid nearly 8%.