Day Traders Diary

10/23/19

The major averages finished in the green as investors digested earnings reports from Caterpillar and Boeing. The Dow Jones Industrial Average closed up 45 points or 0.2% at 26,833. The S&P 500 gained 0.3%  while the Nasdaq Composite climbed 0.2%. The S&P 500 is less than 1% from all time highs.

Caterpillar and Boeing both opened lower, but finished in the green following earnings. Caterpillar actually missed top and bottom-line estimates and issued downside for the full year. Boeing reported lackluster earnings and sales, but optimistically predicted the 737 MAX could return to service this year. Whirlpool also closed higher after dropping 5% on the open despite beating earnings estimates and reaffirming its guidance.

Facebook rose 2% as CEO Mark Zuckerberg testified before Congress about their digital currency, Libra. Rival, Bitcoin dropped as much as 9%, its lowest level since June.

Nike fell 3.4% after announcing Mark Parker will step down as CEO on Jan 13., 2020 and will be replaced by John Donahoe, who was President and CEO of ServiceNow. ServiceNow dropped 3.7% on the day.  

U.S. Treasuries saw an uptick in demand, which pushed yields lower. The 2-yr yield declined three basis points to 1.58%, and the 10-yr yield declined one basis point to 1.76%. The U.S. Dollar Index declined 0.1% to 97.46.