Day Traders Diary

7/9/20

The major averages erased the gains for the week, amid renewed concerns over the coronavirus and its impact on the economy. The Dow Jones Industrial average is down 400 points or 1.5%. The S&P 500 has slid nearly a percent while the Nasdaq clings to modest gains. Stocks hit their lows of the day after Florida reported a record in coronavirus-related hospitalizations. The state also reported a record spike in Covid deaths.

Walgreens was the biggest laggard in the Dow, dropping 8.2% on weaker-than-expected earnings for the previous quarter. Walgreens also suspended a share repurchase program. Boeing is weak as well down 3%.