Day Traders Diary

6/24/19

The major averages hugged the flat line as investors looked ahead to a key meeting between President Donald Trump and Chinese President Xi Jinping at this week's G-20 summit. The Dow Jones Industrial Average closed up 8 points at 26,727. The S&P 500 and Nasdaq closed modestly lower.

Trade optimism has helped spark a massive rally this month. The major indexes are up over 7% for June. These gains have erased a massive sell-off from May, which was fueled by China and the U.S. hiking tariffs on each other's products. The S&P 500 set a new record on Friday, reaching a high of 2,964.

In corporate news, Caesars Entertainment shares surged 14.5% after the casino operator agreed to be bought out by Eldorado Resorts for more than $17 billion, including debt.

Bristol-Myers Squibb was a dog falling more than 7% after the company announced its $74 billion merger with Celgene would be delayed until the end of 2019 or early next year.