Market Update for August 30, 2018

In today's video:

1) U.S. equities snapped a four-day winning streak and closed firmly in the red after news that Donald Trump is likely to move ahead with $200 million in additional tariffs on Chinese Imports. The Dow Jones Industrial Average dropped 137.65 points, the S&P 500 fell 12.91 points while the Nasdaq 100 closed lower by 21.32 points and the Russell 2000 finish lower by 2.40 points.

2)  Gold Futures dropped $5.60 after a rally in the U.S. dollar while Crude Oil Futures gained a little over 1% and closed above the $70.00 Mark. The Bond market trading slightly higher and the yield on the 10-year treasury note finished the day at 2.859.

3) It's late in the earnings season but three big names released second-quarter earnings after-market close and are making big moves in the after-hours trading session. Lululemon Athletica Inc (LULU), Ulta Beauty Inc (ULTA), and Ambarella Inc. (AMBA) all beat analyst expectations but not all are trading higher.

 

 

 

 

 

 

 

 

 

 

 

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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