Market Update for August 23, 2018

In today's video:

1) Additional U.S. and China tariffs went into effect today resulting in a down day on Wall Street. The Dow Jones Industrial Average dropped 76.62 points, the S&P 500 fell 4.84 points while the Nasdaq 100 closed lower by 10.64 points and the Russell 2000 finished lower by 5.49 points.

2) Crude Oil Futures were flat today while Gold Futures gave back all of yesterday's gains and more as the U.S. dollar rallied after talk of more rate hikes. The Bond market was fairly quiet and the yield on the 10-year treasury note held steady at 2.830.

3) What was once one of the largest and most popular department store chains in the world is now barely hanging on. Earlier today, Sears Holdings (SHLD) announced the closing of another 46 stores and is now evaluating a deal to sell its Kenmore appliance brand for $400 million dollars. The share price hit an intraday low of $1.09 today after hitting an all-time high of $195.18 back in April of 2007.

 

 

 

 

 

 

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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