Day Traders Diary

3/7/25

The major averages went on a roller coaster ride today as they finished their worst week in several months as investors and companies try to figure out the administrations trade policies. The Dow Jones Industrial Average added 222 points after being down over 400 points this morning. The S&P 500 rose 31 points while the Nasdaq rose 126 points. The S&P 500 and Nasdaq fell over 1% today before recovering.

Investors shook off a weaker-than-expected jobs report released Friday, which raised further concerns about an economic softening and briefly sent Treasury yields lower. Nonfarm payrolls increased by 151,000 jobs in February, less than the consensus forecast for 170,000 from economists polled by Dow Jones. The unemployment rate ticked higher to 4.1%.

The benchmark 10-year Treasury yield climbed more than 3 basis points to 4.32%. The 2-year Treasury yield rose more than 5 basis points at 4.018%.

On the earnings front, Broadcom jumped 8% on earnings, helping lift the semiconductor industry. The clothing retailer, GAP rose 18% on earnings while Hewlett Packard Enterprise and Costco fell over 6% on earnings.

Oil was modestly higher but remains near a six-month low. Gold was lower, but higher on the week near all-time highs. Bitcoin rose in the green but then pulled back into the red even as President Trump officially established a US bitcoin reserve.

Even with today's rally, the three major averages are set for their worst weeks since September. The Dow and S&P 500 each have pulled back more than 2% this week. The Nasdaq Composite has lost more than 3% this week.

Despite Friday's recovery, the S&P 500 notched its worst week since September with a loss of 3.1%. The Dow fell 2.4% on the week. The Nasdaq Composite slid 3.5% on the week, entering correction territory, down over 10% off its recent high.