Day Traders Diary

6/26/19

The S&P 500 posted a four-day decline, the longest slide since early May, as investors braced for a key meeting between President Donald Trump and Chinese President Xi Jinping later this week.

The broad index closed down 0.1%. The Dow Jones Industrial Average fell 11 points to 26,536 after rising more than 100 points to start off the session. The Nasdaq Composite was the only major average to outperform, rising 0.3% to 7,909.

The semiconductor ETF climbed nearly 3% as Micron surged more than 13% thanks to better than expected earnings and encouraging guidance. Nvidia was the second best chip stock up 5%.

Stocks traded higher for most of Wednesday's session after Treasury Secretary Steven Mnuchin told CNBC's Hadley Gamble he thinks "there's a path" for the U.S. and China to complete a trade deal. His comment came ahead of a meeting between President Donald Trump and Chinese President Xi Jinping at the G-20 summit in Osaka, Japan later this week.