Market Update for February 28, 2019

In Today's Update:

1) Stocks closed out another quiet trading session with slight losses despite a stronger-than-expected GDP report. The Dow Jones Industrial Average dropped 69.16 or 0.27%, the S&P 500 fell 7.89 or 0.28% while the Nasdaq 100 closed lower by 21.98 or 0.29% and the Russell 2000 finished lower by 5.50 or 0.35%.

2) Crude Oil Futures managed to post a modest gain of $0.31 or 0.54% while Gold Futures dropped $6.70 or 0.51% after a rebound in the U.S. dollar. The Bond market traded lower and the yield on the 10-year treasury note settled at 2.720%.

3) Huge news after market hours for both Gap Inc. (GPS) and Tesla Inc. (TSLA). GPS announced that they will split into two public companies making Old Navy a standalone company. This sent shares of GPS soaring after hours while TSLA announced that they will begin selling the long-awaited Standard Model 3 starting at $35,000 and will be moving all sales online moving forward.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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