Market Update for February 14, 2019
In Today's Update:
1) Stocks closed mixed on Thursday after a shockingly weak Retail Sales data report. The Dow Jones Industrial Average dropped 103.88 or 0.41%, the S&P 500 fell 7.30 or 0.27% while the Nasdaq 100 closed higher by 6.58 or 0.09% and the Russell 2000 finished higher by 2.16 or 0.14%.
2) Crude Oil Futures continued to climb closing higher by $0.61 or 1.13% while Gold Futures finished flat and the U.S. dollar moved slightly lower. The Bond market traded higher and the yield on the 10-year treasury note dropped to 2.656%.
3) The Equity markets are already in a fragile state but today's Retail Sales report is making Traders very nervous. Retail Sales dropped 1.2% in December compared to a 0.2% gain expected by economists. Jobless Claims have increased for the third straight week and now Economists are starting to slash fourth-quarter GDP growth 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
