Market Update for Feb 4, 2020

In today's update:

1) U.S. Equity markets continued to Rally Tuesday pushing the NASDAQ 100 to new record highs. The Dow Jones Industrial Average gained 407.82 or 1.44%, the S&P 500 finished higher by 48.67 or 1.50% while the NASDAQ 100 closed higher by 194.57 or 2.10% and the Russell 2000 finished higher by 24.56 or 1.50%.

2) Crude Oil Futures closed lower yet again by $0.66 or 1.32% while Gold Futures dropped sharply losing $25.70 or 1.60%. The Bond market traded significantly lower and the yield on the 10-Year Treasury Note settled at 1.602%.

3) Earnings season continued with four more big names reporting after-market close. Ford Motor Company (F) missed EPS estimates while Walt Disney Company (DIS) and Chipotle Mexican Grill (CMG) beat expectations but SNAP Inc. (SNAP) missed their revenue target and is currently trading sharply lower in the 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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