Market Update for Aug 27, 2019
In today's update:
1) U.S. Equity markets opened higher Tuesday but reversed the early gains to close lower after the yield curve inversion deepened. The Dow Jones Industrial Average dropped 120.93 or 0.47%, the S&P 500 fell 9.22 or 0.32% while the Nasdaq 100 closed lower by 26.79 or 0.34% and the Russell 2000 finished lower by 19.96 or 1.35%.
2) U.S. Crude Oil Futures snapped a four-day losing streak and closed higher by $1.29 or 2.4% while Gold Futures spiked $15.30 or 1% on recession fears. The Bond market was very strong Tuesday and the yield on the 10-Year Treasury Note settled at 1.475%.
3) Tobacco giants Philip Morris International Inc. (PM) and Altria Group Inc. (MO) confirmed early Tuesday morning that they are in merger talks. The news caused wild swings and an extreme spike in volume in both securities. In today's video, we will review the chart of both stocks for clues of what may lie ahead.
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
