Market Update for Jan 21, 2020

In today's update:

1) U.S. Equity markets experienced some weakness today as the impeachment trial began and the U.S. confirmed its first reported case of the Wuhan Coronavirus. The Dow Jones Industrial Average dropped 152.06 or 0.52%, the S&P 500 fell 8.83 or 0.27% while the NASDAQ 100 closed lower by 18.14 or 0.19% and the Russell 2000 finished lower by 13.74 or 0.81%.

2) Crude Oil Futures fell slightly closing lower by $0.29 or 0.50% while Gold Futures dropped $2.10 or 0.13% on mild strength in the U.S. dollar. The Bond market advanced and the yield on the 10-Year Treasury Note settled at 1.770%.

3) Both IBM Corp. (IBM) and Netflix Inc. (NFLX) reported quarterly earnings after market close today. IBM surprised by beating estimates and is currently trading higher by $5.63 or 4.05% in after-hours trading and NFLX beat revenue estimates but missed domestic subscriber estimates and is currently trading higher by $3.39 or 1%.

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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