Market Update for Apr 6, 2020

In today's update:

1) U.S. Equity markets soar as growth rate of new coronavirus cases appears too slow. The Dow Jones Industrial Average rose 1627.46 points or 7.73%, the S&P 500 added 175.03 or 7.03% while the Nasdaq-100 closed higher by 540.16 or 7.33% and the Russell 2000 finished higher by 86.72 or 8.24%.

2) U.S. Crude Oil Futures fell $2.04 or 7.20% amid uncertainty over production cuts while Gold Futures gained $62.10 or 3.77% and hit a new 52-week high. The Bond market showed weakness and the yield on the 10-Year Treasury note settled at 0.678%.

3) Boeing Co (BA) surged today closing higher by $24.25 or 19.47% but made an announcement after-hours that sent the stock lower. BA is halting production at its South Carolina 787 plant. Shares of BA are currently trading lower by $2.81 or 1.89% 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

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