Day Traders Diary

3/6/25

The volatility continued today as the latest concessions from the White House on President Donald Trump's controversial tariff policies failed to calm rattled investors. The Dow Jones Industrial Average fell 427 points lower, or 1%, after falling more than 600 points at session lows. The S&P 500 fell 104 points or 1.78% while the Nasdaq Composite lost 483 points or 2.6%. The major averages are having their worst week in nearly two years as the Nasdaq is down more than 4% while the Dow and S&P 500 have slid around 3.1% and 3.8%, respectively.

Defensive stocks held up with grocer, Kroger up 2% on earnings. Telecom and healthcare were higher along with a few other consumer durables.  

One of the weakest sectors was the chip space down 4% after Marvell Tech dropped 17% on lackluster earnings. Nvidia dropped 5%. The rest of the big caps were lower as well. Apple, Microsoft and Google were modestly lower.

Interest rates backed up ahead of economic numbers tomorrow morning. Bonds have performed well this year with a rates lower in the last month. Oil was quiet today along with gold. Bitcoin was down a percent.