Market Update for Aug 13, 2019
In today's update:
1) Stocks post strong gains after the Trump administration decided to delay tariffs on certain Chinese goods giving hope to traders and investors that a trade deal could happen soon. The Dow Jones Industrial Average gained 372.54 or 1.44%, the S&P 500 added 42.57 or 1.48% while the NASDAQ 100 closed higher by 152.95 or 1.95% and the Russell 2000 finished higher by 16.30 or 1.09%.
2) Crude Oil Futures also surged $2.13 or 4.00% while Gold Futures pulled back $4.80 or 0.32% on strength in the U.S. dollar. The Bond market was weak on Tuesday and the yield on the 10-Year Treasury Note settled at 1.704%.
3) The Cannabis sector is back in the spotlight with several companies reporting better-than-expected revenue figures. Today, Tilray Inc. (TLRY) reported quarterly earnings and beat analysts expectations for revenue but posted a much wider than expected loss. Shares of TLRY are currently trading lower by $3.76 or 8.17% in the after-hours trading session.
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
