Market Update for Aug 20, 2019
In today's update:
1) U.S. Equity markets end a three-day win streak and close lower as recession fears linger. The Dow Jones Industrial Average dropped 173.35 or 0.66%, the S&P 500 fell 23.14 or 0.79% while the NASDAQ 100 closed lower by 54.25 or 0.68% and the Russell 2000 finished lower by 10.84 or 0.72%.
2) Crude Oil Futures were little changed on Tuesday while Gold Futures advanced $6.10 or 0.40% as the U.S. dollar weakened. The Bond market rebounded and the yield on the 10-Year Treasury Note settled at 1.551%.
3) The flow of quarterly earnings reports continued today as both Urban Outfitters Inc. (URBN) and Toll Brothers Inc. (TOL) reported after-market close. URBN delivered a mixed report and is trading lower by $0.53 or 2.53% while TOL missed analyst expectations and is down $0.40 or 1.08% 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
