Day Traders Diary

2/11/25

The major averages closed mixed as the S&P 500 posted a narrow gain on cautious commentary from Federal Reserve Chairman Jerome Powell on interest rates and inflation. The Dow Jones Industrial Average rose 123 points, or 0.28%, to 44,593. The S&P 500 inched up 2 points while the Nasdaq was in the red, down 70 points.

The Dow was lifted by Apple and our diamond today, Coke. Coke rose 4% on strong demand even as they raise prices. Apple was higher as they will partner with Alibaba to develop AI features for iPhone users in China, curbing the market's losses.

Not many tech stocks were higher other than Apple. IBM rose 2% on an upgrade with a $320 price target. Intel was higher on optimism of US-made AI chips.

The 10-year Treasury yield was up 4 basis points to 4.53%. The 2-year Treasury yield climbed 2 basis points to 4.29%. Powell earlier addressed the Senate Banking Committee and signaled the Fed does not need to move quickly to ease monetary policy.

Oil was higher on supply worries. Gold was modestly lower, pulling back from all time highs. Bitcoin dropped nearly 2% back toward the low end of the trading range.