Market Update for February 26, 2019
In Today's Update:
1) U.S. Equities closed mostly lower today after weaker-than-expected earnings reports and mixed economic data. The Dow Jones Industrial Average dropped 33.97 or 0.13%, the S&P 500 fell 2.21 or 0.08% while the Nasdaq 100 closed lower by 5.16 or 0.07% and the Russell 2000 finished lower by 11.32 or 0.71%.
2) Crude Oil Futures rebounded moving higher by $0.51 or 0.92% while Gold Futures were flat and closed higher by just $1.50 or 0.11%. The Bond market finished slightly higher and the yield on the 10-year treasury note dropped to 2.635%.
3) The fourth-quarter earnings season is almost complete but today's earnings releases definitely impacted the market. Home Depot (HD) reported and missed estimates before market open and closed lower by $1.68 or 0.88% while Weight Watchers (WTW), Papa Johns (PZZA), and Mylan (MYL) all reported much weaker-than-expected earnings after market close and all three have been very active in today's after-hours trading session.
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
