Day Traders Diary

10/15/19

The major averages are trading higher as Wall Street turns its attention to third quarter earnings. The Dow Jones is set to open 80 points higher. The S&P and Nasdaq are modestly higher as well.

Earnings season kicked off with stronger-than-expected results from J.P. Morgan Chase, Johnson & Johnson, UnitedHealth, BlackRock, and Citigroup, sending shares higher in the premarket. Shares of Goldman Sachs and Wells Fargo fell, however, after its earnings missed Street estimates. United Airlines and Interactive Brokers will release earnings after the bell.

Meanwhile, the U.S. Treasury Secretary Steven Mnuchin told CNBC that tariffs will go up in December if there is no deal in place with China.

Demand for U.S. Treasuries has increased after the bond market was closed yesterday. The 2-yr yield is down six basis points to 1.55%, and the 10-yr yield is down six basis points to 1.69%. The U.S. Dollar Index is up 0.1% to 98.53. WTI crude is down 1.2%, or $0.64, to $52.96/bbl.