Market Update for Aug 6, 2019
In today's update:
1) U.S. Equity markets bounced slightly and made back part of yesterday's losses after China's currency stabilizes. The Dow Jones Industrial Average gained 311.78 or 1.21%, the S&P 500 added 37.03 or 1.30% while the NASDAQ 100 closed higher by 107.22 or 1.39% and the Russell 2000 finished higher by 14.67 or 0.99%.
2) Crude Oil Futures fell another $0.90 or 1.65% while Gold Futures continued to climb gaining $9.50 or 0.64% despite a rally in the U.S. dollar. The Bond market traded higher and the yield on the 10-Year Treasury Note settled at 1.716%.
3) Earnings season continues with Disney (DIS) and Wynn Resorts (WYNN) reporting after-market close. DIS missed analysts expectations and showed increased losses in its streaming business after investments in Hulu and ESPN while WYNN reported better-than-expected numbers. DIS is currently trading lower by $2.87 or 2.02% while shares of WYNN are trading flat 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
