Market Update for Aug 19, 2019
In today's update:
1) Treasury yields rebounded Monday sending U.S. Equity markets higher. Two sectors leading the way higher were Financials and Technology. The Dow Jones Industrial Average gained 249.78 or 0.96%, the S&P 500 added 34.97 or 1.21% while the Nasdaq 100 closed higher by 106.82 or 1.35% and the Russell 2000 finished higher by 15.21 or 1.02%.
2) Crude Oil Futures spiked $1.34 0r 2.44% after the weekend attack on a Saudi oil facility by Yemen forces while Gold Futures dropped $17.40 or 1.14% on more strength in the U.S. dollar. The Bond market dropped sharply and the yield on the 10-Year Treasury Note jumped to 1.608%.
3) Baidu Inc. (BIDU) reported quarterly earnings after market close and beat analyst expectations for both earnings and revenue. During regular market hours, the stock closed higher by $7.52 or 7.78% and in today's after-hours trading session shares of BIDU are currently trading higher by $9.63 or 9.24%.
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
