Market Update for Feb 10, 2020

In today's update:

1) Technology stocks led the way on Monday as U.S. Equity markets resumed their uptrend. The Dow Jones Industrial Average gained 174.31 or 0.60%, the S&P 500 added 24.38 or 0.73% while the NASDAQ 100 closed higher by 107.88 or 1.13% and the Russell 2000 finished higher by 10.89 or 0.66%.

2) Crude Oil Futures dropped another $0.75 or 1.5% today on fears of weakening Chinese demand while Gold Futures hit a 1-week high gaining $5.90 or 0.4%. The Bond market finished slightly higher and the yield on the 10-Year Treasury Note settled at 1.574%.

3) Shares of Slack Technologies Inc. (WORK) jumped $3.55 or 15.44% during today's regular trading session after Business Insider reported that Slack had "just scored its biggest customer deal ever". After-market close, the company downplayed the news report and the stock is currently trading lower by $1.93 or 7.27% in after-hours trading.

About the author

Vince Vora is the head trader at 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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