Market Update for August 16, 2018

In today's video:

1) Stocks rose sharply after National Economic Council Director Larry Kudlow said that China and the U.S. plan to meet later this month to reignite trade talks. The Dow Jones Industrial Average gained 396.32 points, the S&P 500 added 22.32 points while the Nasdaq 100 closed higher by 32.41 points and the Russell 2000 finished higher by 15.08 points.

2) Crude Oil Futures recovered a small portion of yesterday's losses while Gold Futures extended its losing streak to six days closing lower by $4.40. The Bond market was flat and the yield on the 10-year treasury note held steady at 2.867.

3) Yesterday, it was Macy's (M) and today JCPenney (JCP) took a turn for the worse sinking 26.97% after releasing a disappointing earnings report. On the flip side, both Walmart (WMT) and Cisco Systems (CSCO) beat estimates and were rewarded with significant gains.

 

 

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

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