Market Update for December 18, 2018
In Today's Update:
1) Stocks struggled to hang on to earlier gains but did close mostly higher ahead of tomorrow's big announcement. The Dow Jones Industrial Average gained 82.66 or 0.35%, the S&P 500 added 0.22 or 0.01% while the Nasdaq 100 closed higher by 30.18 or 0.45% and the Russell 2000 finished lower by 0.97 or 0.07%.
2) Crude Oil Futures tanked and closed almost 8% lower after news of increased production from Russia while Gold Futures finished slightly higher gaining $1.50 or 0.12%. The Bond market continued to climb dropping the yield on the 10-year treasury note to 2.818%.
3) A couple of big-name earnings reports are dominating the after-hours trading session. FedEx Corp (FDX) is currently trading lower by $11.49 or 6.21% after beating analyst expectations but lowering its full-year 2019 earnings guidance. Micron Technology Inc. (MU) shares are down $3.00 per share or 8.8% after missing revenue estimates.
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
