Market Update for Feb 12, 2020
In today's update:
1) U.S. Equity markets continue to defy logic by ignoring risks and close at new all-time highs. The Dow Jones Industrial Average gained 275.08 or 0.94%, the S&P 500 added 21.70 or 0.65% while the NASDAQ 100 closed higher by 87.02 or 0.90% and the Russell 2000 finished higher by 11.87 or 0.71%.
2) Crude Oil posted its biggest gain in a month closing higher by $1.23 or 2.46% while Gold Futures finished the day slightly higher and the U.S. dollar resumed its rally. The Bond market traded lower Wednesday and the yield on the 10-Year Treasury Note settled at 1.631%.
3) Shopify Inc. (SHOP) reported quarterly earnings before-market open today. SHOP beat EPS estimates and reported better-than-expected 2020 sales forecast. Shares of SHOP hit a new record high gaining $38.50 per share or 7.81%.
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
