Market Update for February 10, 2019
In Today's Update:
1) Stocks rallied during the afternoon trading session on Friday to close mostly higher and post their seventh consecutive weekly gain. The Dow Jones Industrial Average dropped 63.20 or 0.25%, the S&P 500 added 1.83 or 0.07% while the Nasdaq 100 closed higher by 9.85 or 0.14% and the Russell 2000 finished higher by 0.77 or 0.05%.
2) Crude Oil Futures gained just $0.07 on Friday but fell 4.6% for the week over continued fear of a global economic slowdown while Gold Futures closed higher by $4.00 or 0.30%. The Bond market closed out the week with gains and the yield on the 10-year treasury note finished at 2.630%.
3) We have another busy week ahead for economic data reports. One of the most important reports will be released on Tuesday (Consumer Price Index) followed by comments from Federal Reserve Chairman Jerome Powell. Earnings season will also continue with reports from Lowes (L), Shopify (SHOP), Under Armour (UA), Dish Network (DISH), Hilton Worldwide Holdings (HLT), Coca-Cola (KO), and Pepsico (PEP) just to name a few.
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
