Market Update for December 13, 2018
In Today's Update:
1) Stocks closed mostly lower after a choppy, lower range, lower volume trading session. The Dow Jones Industrial Average gained 70.11 or 0.29%, the S&P 500 fell 0.53 or 0.02% while the Nasdaq 100 closed lower by 27.98 or 0.39% and the Russell 2000 finished lower by 22.62 or 1.55%.
2) Crude Oil Futures closed sharply higher on signs of tightening oil supplies while Gold Futures dropped $3.20 or 0.26% after a rebound in the U.S. dollar. The Bond market closed slightly lower and the yield on the 10-year treasury note settled the day at 2.913%.
3) Shares of Costco Wholesale Corp. (COST) and Starbucks Corp. (SBUX) were both trading approximately 3% lower in today's after-hours trading session. Shares of COST fell after the company reported disappointing quarterly earnings and revenue while SBUX shares dropped after announcing a new delivery service. Starbucks will partner with Uber Eats to provide delivery at 2,000 of its stores in the U.S. beginning in 2019.
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
