Market Update for Jan 30, 2020

In today's update:

1) U.S. Equity markets staged a late-day rally to overcome a steep loss and close mostly higher. The Dow Jones Industrial Average gained 124.99 or 0.43%, the S&P 500 added 10.26 or 0.31% while the NASDAQ 100 closed higher by 23.77 or 0.26% and the Russell 2000 finished lower by 1.00 or 0.06%.

2) Crude Oil Futures dropped sharply for the seventh time in the past eight sessions while Gold Futures rallied to close higher by $13.80 or 0.70%. The Bond market was little changed and the yield on the 10-Year Treasury Note settled at 1.588%.

3) Jeff Bezos' net worth just increased by about $12 billion after Amazon Inc. (AMZN) reported blowout earnings after market close. AMZN reported EPS of $6.47 versus $4.03 expected and also reported much higher Revenue than the market was expecting. Shares of AMZN are currently trading Higher by more than $200 per share or almost 11% in the 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

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