Day Traders Diary

3/5/25

The major averages closed higher following back-to-back losses and at least the fifth day in a row of 1% moves following President Donald Trump's address to Congress and more trade tariff concerns. The Dow Jones Industrial Average rose 485 points after falling 1300 poitns the last two days. The S&P 500 rose 64 points or 1.12% while the Nasdaq Composite rose 267 points or 1.46%.

Stocks took a leg up after the White House said it granted a one-month delay for tariffs on automakers whose cars comply with the United States-Mexico-Canada Agreement. Stellantis surged more than 9%, while Ford and General Motors rose 5% and 7%, respectively. Nearly 3 out of 4 S&P 500 members finished higher, while the small cap-focused Russell 2000 advanced 1%.

Big cap tech performed well led by a 3% rally in Microsoft. Only Apple was in the red. CrowdStrike was a dog, down 6% on earnings last night.

The energy and utility sectors failed to find support Wednesday even as the broader market rose on President Trump's openness to more tariff concessions.

The energy sector was another dog down over 2% to a six month low as OPEC+ plans to gradually increase production starting in April. Utilities were mixed finishing lower by 0.51% lower.

Gold was modestly higher continuing its upward trend. Bitcoin rose over 2% back above $90,000 and up over 10% from the lows in the last day.