Day Traders Diary

1/29/25

The major averages pulled back today following a sleuth of earnings and after the Federal Reserve left interest rates unchanged in its first policy decision of the year. The Dow Jones Industrial Average fell 136 points to 44,713. The S&P 500 fell 28 points or 0.47% while the Nasdaq fell 101 points or 0.51%.

Nvidia reserved course, falling 4%, its least volatile day this week as investors continue to digest the importance of the Chinese based, DeepSeek AI model. The rest of the big cap tech sector held up better today.

In the bond market, the Fed left rates unchanged in a range of 4.25% to 4.50%. The Fed's post meeting statement offered a more cautious views toward sticky inflation which could limit the number of rate cuts this year.  The 10-year Treasury was flat at 4.55%, while the 2-year Treasury yield added 2 basis points to 4.22%.

The price of oil was down a percent which helps inflation a little bit. Gold was modestly higher while bitcoin jumped 2% back above $100,000.