Market Update for Aug 21, 2019
In today's update:
1) U.S. Equity markets gapped up and closed higher as strong quarterly earnings from Target Corp. (TGT) and Lowes Companies (LOW) sent stocks soaring. The Dow Jones Industrial Average gained 240.29 or 0.93%, the S&P 500 added 23.92 or 0.82% while the Nasdaq 100 closed higher by 71.65 or 0.90% and the Russell 2000 finished higher by 11.88 or 0.79%.
2) Crude Oil Futures closed slightly lower after another rise in U.S. Crude stockpiles while Gold Futures slipped $3.50 or 0.23% on more strength in the U.S. dollar. The Bond market traded lower and the yield on the 10-Year Treasury Note settled at 1.586%.
3) The Retail sector received a big boost from TGT and LOW early this morning after both companies reported better-than-expected earnings reports, and after-market close, it was Nordstrom's (JWN) turn. JWN reported lower sales and bigger profits and are trading higher by $3.06 or 11.53% 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
