Market Update for Aug 12, 2019
In today's update:
1) U.S. Equity markets experienced a slow but steady stream of selling today as traders and investors continue to worry about slowing global economic growth. The Dow Jones Industrial Average dropped 391.00 or 1.49%, the S&P 500 fell 35.96 or 1.23%while the NASDAQ 100 closed lower by 95.73 or 1.20% and the Russell 2000 finished lower by 18.58 or 1.23%.
2) Crude Oil Futures gained $0.30 or 0.55% while Gold Futures bounced gaining $14.70 or 0.97% despite strength in the U.S. dollar. The Bond market traded significantly higher Monday and the yield on the 10-Year Treasury Note settled at 1.641%.
3) Uber Technologies Inc. (UBER) plunged and closed at its low of the day after reporting disappointing quarterly earnings last week. Uber reported a remarkable $5.2B loss and shares of UBER look poised for lower prices as shareholders wonder if the ride-sharing company can ever be profitable.
About the author
Vince Vora is the head trader at TradingWins.com. Over the last three decades, he has been trading and refining his trading systems that are based on technical analysis and price action. Over the last few years, his focus has been on teaching people how to become better traders. His systems range from simple to sophisticated and can be used in any market conditions to trade stocks, options, futures and forex. By: TradingWins Team
