Market Update for Feb 18, 2020
In today's update:
1) Equity markets closed mostly lower Tuesday after Apple Inc. (AAPL) warned that its revenue will drop due to the coronavirus outbreak in China. The Dow Jones Industrial Average dropped 165.89 or 0.56%, the S&P 500 fell 9.87 or 0.29% while the NASDAQ 100 closed higher by 1.57 or 0.02% and the Russell 2000 finished lower by 4.06 or 0.24%.
2) Crude Oil Futures finished the day unchanged after paring earlier losses while Gold Futures advanced 19.10 or 1.2% despite more strength in the U.S. dollar. The Bond market traded higher and the yield on the 10-Year Treasury Note settled at 1.561%.
3) Gold Futures surged today on more fear of the impact that the coronavirus outbreak may have on the global economy. Gold Futures closed at a 52-week high and look poised to make a run toward their all-time high of 1911.40.
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
