Market Update for February 5, 2019

In Today's Update:

1) Positive earnings reports continue to drive stocks higher. Early this morning, Alphabet (GOOGL), Seagate Technologies (STX), and Estee Lauder (EL) all reported better-than-expected numbers. The Dow Jones Industrial Average gained 172.15 or 0.68%, the S&P 500 added 12.83 or 0.47% while the Nasdaq 100 closed higher by 54.55 or 0.74% and the Russell 2000 finished higher by 2.69 or 0.18%.

2) Crude Oil Futures gave back almost all of yesterday's gains closing lower by $0.84 or 1.54% while Gold Futures finished flat on the day. The Bond market traded higher and the yield on the 10-year treasury note closed at 2.701%.

3) It's turning out to be another active trading session after hours and four of the most active stocks are Shutterfly (SFLY), Disney (DIS), SNAP (SNAP), and Electronic Arts (EA). Shares of Shutterfly are down over 10% after announcing CEO Christopher North will step down at the end of August while Electronic Arts is down over 17% on disappointing earnings. Snap and Disney both beat expectations and are trading higher in after-hours trading.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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