Market Update for Aug 26, 2019
In today's update:
1) Equity markets rebounded Monday on much lower-than-expected volume after President Trump said China wants to strike a deal. The Dow Jones Industrial Average gained 269.93 or 1.05%, the S&P 500 added 31.27 or 1.10% while the NASDAQ 100 closed higher by 101.97 or 1.32% and the Russell 2000 finished higher by 16.52 or 1.13%.
2) Crude Oil Futures dropped $0.40 or 0.74% while Gold Futures settled off their highs gaining just $1.00 or 0.06%. The Bond market was weaker today and the yield on the 10-Year Treasury Note settled at 1.537%.
3) After-market close, a verdict was issued in the landmark opioid case in Oklahoma. A federal judge ruled against Johnson & Johnson (JNJ) holding the drug drugmaker responsible for helping to fuel the opioid epidemic. The judge ordered JNJ to pay $572 million to the state, an amount far less than what was expected. Shares of JNJ are currently trading higher by $4.20 or 3.29% 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
