Market Update for February 6, 2019
In Today's Update:
1) A very quiet, low range, low volume day on Wall Street ends slightly lower. The Dow Jones Industrial Average dropped 21.22 or 0.08%, the S&P 500 fell 6.09 or 0.22% while the Nasdaq 100 closed lower by 26.80 or 0.36% and the Russell 2000 finished lower by 2.20 or 0.15%.
2) Crude Oil Futures managed to gain $0.26 or 0.48% while Gold Futures fell $8.70 or 0.66% after the U.S. dollar posts Its fifth straight day of gains. The Bond market closed little changed and the yield on the 10-year treasury note settled at 2.699%.
3) Chipotle Mexican Grill (CMG) shocked the market by reporting much-better-than-expected quarterly earnings and is currently trading significantly higher in the after-hours trading session. CMG beat expectations for both EPS and Revenue but the key metric was the 6.1% growth in same-store sales. Shares of CMG are currently trading higher by $52.44 or 10%.
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
