Market Update for Jan 29, 2020
In today's update:
1) U.S. Equity markets closed mixed on Wednesday after the Federal Reserve decided to keep interest rates unchanged. The Dow Jones Industrial Average gained 11.60 or 0.04%, the S&P 500 fell 2.84 or 0.09% while the NASDAQ 100 closed higher by 5.48 or 0.06% and the Russell 2000 finished lower by 9.09 or 0.55%.
2) Crude Oil Futures finished slightly lower closing down $0.15 or 0.3% while Gold Futures advanced another $6.00 or 0.3% despite more strength in the U.S. dollar. The Bond market closed higher and the yield on the 10-Year Treasury Note settled at 1.590%.
3) A huge afternoon for earnings season has resulted in a very active after-hours trading session. Facebook Inc. (FB), Microsoft Corp. (MSFT), and Tesla Inc. (TSLA) reported quarterly earnings after market close and all three companies beat estimates. FB is trading lower by 7% while TSLA is trading higher by 7% and Microsoft is trading higher by a little over 2% in today's 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
