Day Traders Diary

11/19/19

The Dow Jones Industrial Average fell from record highs on Tuesday amid losses in Home Depot and a reversal in Boeing shares. The broader market finished the session little changed. The 30-stock average dropped 102 points, or 0.3% to 27,934. The S&P 500 closed marginally lower at 3,120. The Nasdaq Composite advanced 0.2% to 8,570, posting a fresh all-time closing high. The three indexes recorded intraday all-time highs during the session.

Dow component, Home Depot shares slid 5.4% after disappointing earnings and guidance. Retail in general performed poorly with Kohls down 19% on earnings and Macy's down 10% on a data breach. TJX Companies was a bright spot among the retailers after it beat top and bottom-line estimates and raised its full-year guidance.

Dow component, Boeing shares gave back a 1.5% gain after the National Transportation Safety Board recommended the airplane maker redesign the engine covers on thousands of its 737 planes. The stock in initially rose after Boeing wrangled up 50 orders for the embattled 737 Max jet at the Dubai Air Show.

Separately, shares of AT&T fell 4% after the stock was downgraded to Sell from Neutral at Moffett Nathanson. Shares of Slack fell 8% on news that Microsoft's competitive product, Teams, increased daily active users by nearly 50% since July.

The U.S. Treasury market was relatively quiet, but demand for longer-dated bonds contributed to some curve-flattening activity. The 2-yr yield was unchanged at 1.59%, and the 10-yr yield declined two basis points to 1.79%. The U.S. Dollar Index increased 0.1% to 97.85.