Day Traders Diary

8/1/19

The major averages are rebounding this morning following the biggest decline in over a month. The Dow Jones Industrial Average is up 40 points to start the day. The Nasdaq is jumping nearly half a percent while the S&P 500 is up 5 points.

The markets are still digesting comments from Federal Reserve Chairman Jerome Powell that tempered future rate-cut expectations after cutting rates by a quarter point. It was the first rate cut since 2008 during the financial crisis.

The earnings keep flooding in. Blue chips, GM, Dupont, Kellogg and Verizon is higher after beating expectations. Health insurer, Cigna is higher as well following earnings. The techs are bouncing back. Western Digital is jumping 5% on earnings.

Plenty of stocks are lower following earnings. Qualcomm and Clorox are down 3%. Prudential is down 6% and Fitbit is down 19%.