Day Traders Diary

6/11/24

The major averages closed mixed on Tuesday as investors look toward the central bank's next interest rate decision on Wednesday. The Dow Jones Industrial Average fell 120 points or 0.31%. The S&P 500 is up 14 points or 0.27% while the Nasdaq rose 151 points or 0.88%.

Even most averages were higher today, most of the S&P 500 stocks fell on the day, with only roughly 100 stocks higher by the close. On the New York Stock Exchange, about 1,900 stocks were lower, while only 688 gained.

Part of the strength for the averages today was due to our diamond, Apple jumping 7% to a new high one day after their worldwide conference day. Nice turnaround. Microsoft and few other big cap techs were higher. Oracle was higher ahead of earnings tonight, But even the mighty Nvidia fell nearly one percent day after surging the last several weeks.

Ahead of the Fed meeting, bond yields dropped. The yield on the 10-year treasury fell 2 basis points to 4.4% while the yield on the 2-year treasury fell 3 basis points to 4.85%.