Market Update for Aug 14, 2019
In today's update:
1) Bonds soared once again on Wednesday causing Global Equity markets to have one of their worst days of the year. The Dow Jones Industrial Average dropped 800.49 or 3.05%, the S&P 500 fell 85.72 or 2.93% while the NASDAQ 100 closed lower by 242.42 or 3.02% and the Russell 2000 finished lower by 43.05 or 2.85%.
2) Crude Oil Futures closed sharply lower on yet another build in U.S. Crude stockpiles while Gold Futures spiked $13.20 or 0.87% as investors continue to seek safety. The Bond market soared to new highs driving yields lower and the 10-Year Treasury Note settled at 1.581%.
3) Equity Futures continue to fall in the after-hours trading session as do stocks in the Cannabis sector. After-market close, Canopy Growth Corp. (CGC) reported a much wider than expected loss for the quarter due to a one-time charge related to the expiry of warrants held by Constellation Brands Inc. (STZ). Shares of CGC are currently trading lower by $3.59 or 11.24%.
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
