Market Update for Feb 5, 2020

In today's update:

1) U.S. Equity markets closed substantially higher on Wednesday as investors shrugged off coronavirus fears. The Dow Jones Industrial Average gained 483.22 or 1.68%, the S&P 500 added 37.10 or 1.13% while the NASDAQ 100 closed higher by 40.71 or 0.43% and the Russell 2000 finished higher by 25.15 or 1.52%.

2) Crude Oil Futures snapped a five-day losing streak to close higher by $1.14 or 2.3% while Gold Futures advanced $6.90 or 0.4% despite more strength in the U.S. dollar. The Bond market traded lower and the yield on the 10-Year Treasury Note settled at 1.654%.

3) Earnings season continued with Peloton Interactive Inc. (PTON) and GoPro Inc. (GPRO) announcing quarterly earnings after market close. GPRO reported disappointing results and is currently trading lower by $0.58 or 13.30% while PTON reported a bigger-than-expected loss and slowing revenue growth. Shares of PTON are currently trading lower by $2.69 or 8.23% in the after-hours trading session.

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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