Day Traders Diary

4/2/25

The major averages reversed course today, closing higher for a second straight day ahead of President Trumps press conference on trade tariffs. The Dow Jones Industrial Average rose 235 points, or 0.56% after falling more than 1% earlier in the day. The S&P 500 rose 37 points or 0.67%. The Nasdaq Composite rose 151 points or 0.87%.

As usual, shares of Tesla rose 5% after falling 6% to start the day. The stock initially sold off on weak car delivery numbers, but then the stock turned around on rumors Elon Musk will step back from his advisory role in the coming weeks.

The rest of the tech sector performed well today.

Investors are hoping for a lower tariff level than what has been previously floated by the White House. The Washington Post reported Monday that the White House was considering imposing tariffs of roughly 20% on most imports coming into the country. However, the report said that advisors cautioned that several options are still on the table.

Interest rates crept higher ahead of the tariff news. The 10-year Treasury yield added 2.6 basis points to 4.18%, while the 2-year Treasury yield climbed 4.5 basis points to 3.90%.

Gold rose 13 points near all time highs. Bitcoin and oil were higher as well.

We will see how the tariff news comes out today and how the markets react tomorrow.