Day Traders Diary

1/28/25

The major averages perform well with the Nasdaq and the tech sector rebounding following the more than 3% decline yesterday. The Dow Jones Industrial Average added 136 points, or 0.31%, to 44,850. The S&P 500 rose 55 points or 0.92% while the Nasdaq Composite rose 391 points or 2% after the three percent debacle yesterday.

All eyes were on Nvidia as it snapped back 8% today after losing 17%, or almost $600 billion in market value on Monday. All the big cap techs performed well.

Earnings continue to flood in with better-than-expected numbers from Royal Caribbean, Nucor, and RTX. A number of companies also reported better than expected earnings, but the stocks closed lower like GM, SAP, JetBlue and Lockheed Martin.

Bonds were quiet today with the 10-year Treasury yield up a basis point to 4.53%, while the 2-year Treasury yield rose a basis point to 4.19%. Wall Street is not expecting the Federal Reserve to cut rates tomorrow.

Oil bounced off multi week lows today. Gold was up a percent while bitcoin closed flat after rebounding 2% earlier in the session.