Market Update for August 1, 2018
In today's video:
1) Apple Inc. (AAPL) helped the Nasdaq Composite Index close in positive territory but just about everything else closed lower. The Dow Jones Industrial Average dropped 81.37 points, The S&P 500 fell 2.93 points while they Nasdaq 100 closed higher by 35.50 points and the Russell 2000 finished lower by 1.53 points.
2) Gold Futures traded lower by $8.20 after the Federal Reserve decided to leave interest rates unchanged while Crude Oil Futures dropped sharply after a surprise increase in U.S. Crude stockpiles. The Bond Market closed significantly lower today resulting in the yield on the 10-year treasury note closing at 2.998.
3) It was another big day on the earnings front as both Tesla Inc. (TSLA) and Square Inc. (SQ) reported after market close. TSLA announced a bigger-than-expected loss but did beat on revenue and is trading higher by almost 4% while SQ beat expectations on both earnings and revenue but is trading lower by 2% 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
