Day Traders Diary

2/6/25

The major averages closed mixed as the S&P 500 higher for the third straight session on Thursday as investors weighed the latest batch of corporate earnings. The Dow Jones Industrial Average lost 125 points to closed at 44,747. The S&P rose 22 points or 0.36% while the Nasdaq Composite rose 99 points or 0.5%.

Plenty of earnings still coming in. In the semiconductor space, Qualcomm and Arm took a hit on earnings. Skyworks Solutions lost more than 24% after reporting its quarterly results. Ford Motor fell 7% after the automaker forecast a difficult 2025.

Honeywell was down as well by 5%, dragging the Dow lower, after the company issued full-year earnings guidance that fell short of what analysts anticipated. The conglomerate also announced it would split into three companies.

By contrast, Philip Morris jumped 11% on the heels of the international tobacco company reporting better-than-expected earnings and revenue for the fourth quarter. The stock notched a record close.

In the bond market, the 10-year Treasury yield gained nearly 2 basis points to 4.43% while the 2-year Treasury yield rose more than 2 basis points to 4.21% as ADP reported that private payrolls grew by 183,000 jobs in January, above the 150,000 gain predicted by economists polled by Dow Jones. It is also up from the 176,000 jobs created in December. Tomorrow is the more important economic number awaiting January's jobs report.

The price of oil was lower as Trump repeats a pledge for lower prices. Gold was also lower ahead of the jobs report. Bitcoin was lower as well.