Day Traders Diary

2/10/25

The major averages performed well led by big cap tech after a down week to start February on trade tariff threats. The Dow Jones Industrial Average rose 167points led by 4% gain from McDonald's following earnings. The S&P 500 rose 40 points or 0.7% while the Nasdaq Composite jumped 190 points.

Trump told reporters on Sunday that he's planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday. Steel and aluminum stocks popped. U.S. Steel and Nucor were up more than 3% and 5%, respectively. Cleveland-Cliffs climbed 11%, and Alcoa traded 3.3% higher.

Nvidia continues to perform well ahead of earnings at the end of the month following a sharp sell off in January. Most of the chip stocks are higher today except for On Semiconductor which reported this morning. The rest of the big cap tech were higher except for Tesla.

International stocks continue to perk up. The Chinese stocks are acting well. JD.com and Alibaba were higher by 4% and 5% respectively as billionaire, David Tepper added to his positions.

The financials were lower, but have performed well to start 2025. American Express was lower by 2% even as earnings came in better than expected.

The bonds were quiet with the 10-year Treasury yield up a basis point to 4.49%, while the 2-year Treasury yield dipped more than a basis point to 4.26%. The next big economic data comes out on Wednesday in the form of January consumer price index report and the weekly jobless claims and the producer price index on Thursday.

In the commodity space, the price of oil was up 2% to $72.50 a barrel. Gold was up a percent to a new high. Bitcoin was up a percent as well.