Market Update for February 20, 2019
In Today's Update:
1) Stocks managed to squeak out more gains on Wednesday helping the Nasdaq 100 to close higher for the eighth consecutive session. The Dow Jones Industrial Average gained 63.12 or 0.24%, the S&P 500 added 4.94 or 0.18% while the Nasdaq 100 close higher by 2.30 or 0.03% and the Russell 2000 finished higher by 7.19 or 0.46%.
2) Crude Oil Futures had another great day adding $0.81 or 1.44% while Gold Futures retraced $3.70 or 0.27% after the U.S. dollar rallied in late day trading. The Bond market traded slightly lower and the yield on the 10-year treasury note settled at 2.646%.
3) Cannabis-related stocks have been in the news much more frequently lately and are getting a lot of attention on Wall Street. Earlier today, Tilray Inc. (TLRY) announced a $317 million deal to buy Manitoba Harvest, the world's biggest Hemp food maker. Shares of TLRY jumped $4.07 or 5.28%.
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
