Market Update for December 2, 2018
In Today's Update:
1) Stocks closed out a volatile month with solid gains as optimism over a potential trade deal accelerated. The Dow Jones Industrial Average gained 199.62 or 0.79%, the S&P 500 added 22.41 or 0.82% while the Nasdaq 100 closed higher by 57.45 or 0.79% and the Russell 2000 finished higher by 7.88 or 0.52%.
2) Crude Oil Futures closed out their worst month in 10 years with more losses dropping another $0.73 or 1.42% while Gold Futures edged lower as the dollar gained strength ahead of the G20 Summit. The Bond market traded higher Friday and the yield on the 10-year Treasury Note closed below 3% for the first time in weeks.
3) It looks as though we are heading into a big week and a potentially huge month for U.S. Equities. With news out of the G20 Summit that Trump will delay the planned increase of tariffs on Chinese goods and restart negotiations over a broad trade deal with China, stocks could rally hard. keep an eye on the Equity Futures market tonight and into tomorrow morning for an indication of where stocks will open on Monday.
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
