Day Traders Diary

11/12/19

The major averages closed at new highs except for the Dow that closed exactly unchanged. The S&P 500 climbed 0.2% to 3,091 while the Nasdaq Composite advanced 0.3% to 8,486. The Dow closed unchanged for the first time in six years. President Trump spot at a lunchtime speech at the Economic Club of New York. Nothing President Trump said caught the market off guard.

The earnings keep flooding in. Rockwell Automation jumped 10% after beating top and bottom-line estimates and guiding 2020 top and bottom lines above consensus. D.R. Horton rose 3% after beating top and bottom-line estimates and guiding the midpoint of its 2020 revenue above consensus. Tyson Foods rose 7% even though they missed earnings estimates.

Advance Auto Parts was a dog down 7% despite beating earnings estimates and announcing an additional $700 million share repurchase authorization. AAP did lower the top-end of its comparable sales outlook.

In other news, Disney rose a percent after launching Disney + today. The platform suffered technical errors just hours after the launch as demand surged. Facebook, meanwhile, gained 2.5% after announcing a new payments tool that can be used through its applications called, "Facebook Pay."

The Treasury market reopened for trading after being closed for Veterans Day yesterday. An uptick in demand pushed the 2-yr yield down one basis point to 1.65% and the 10-yr yield down two basis points to 1.91%. The U.S. Dollar Index increased 0.2% to 98.34. WTI crude was unchanged at $56.85/bbl.