Market Update for Jan 27, 2020
In today's update:
1) U.S. Equity markets closed sharply lower on Monday as concerns over the coronavirus and its potential economic impact escalate. The Dow Jones Industrial Average dropped 453.93 or 1.57%, the S&P 500 fell 51.84 or 1.57% while the Nasdaq 100 closed lower by 175.60 or 1.89% and the Russell 2000 finished lower by 18.09 more 1.09%.
2) Crude Oil Futures hit a 3-month low after dropping another $1.05 or 1.90% while Gold Futures gained $6.00 or 0.3% despite more strength in the U.S. dollar. The Bond market rose sharply and the 10-Year Treasury Note settled at 1.612%.
3) Shares of Apple Inc. (AAPL) fell in line with the rest of the market today losing $9.36 or 2.94% ahead of their much-anticipated earnings report tomorrow afternoon. Most investors will be waiting for commentary around TV+ uptake and overall demand in China. Starbucks Corp (SBUX), 3M Comapny (MMM), and Advanced Micro Devices (AMD) also report quarterly earnings tomorrow.
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
