Market Update for Aug 7, 2019
In today's update:
1) Stocks closed mixed after a roller coaster trading session on Wall Street Wednesday. The Dow Jones Industrial Average dropped 22.45 or 0.09%, the S&P 500 gained 2.21 or 0.08% while the NASDAQ 100 closed higher by 29.56 or 0.38% the Russell 2000 finished lower by 1.40 or 0.09%.
2) Crude Oil Futures plunged again closing lower by $2 .47 or 4.6% on fears of a global slowdown while Gold Futures spiked $29.00 or 1.95% to close above the $1500.00 mark for the first time since April of 2013. The Bond market sold-off early but rallied to close flat and the yield on the 10-year Treasury Note settled at 1.734%.
3) Lyft Inc. (LYFT) and Roku Inc. (ROKU) released quarterly earnings reports after-market close and both easily beat analysts expectations. Shares of LYFT spiked more than 13% after hours but paired gains after announcing share lock-ups would expire in August rather than September. ROKU shares were trading higher by $10.00 or 9.91%.
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
