Market Update for Jan 7, 2020
In today's update:
1) U.S. Equity markets closed slightly lower on Tuesday despite better-than-expected economic data. The Dow Jones Industrial Average dropped 119.70 or 0.42%, the S&P 500 fell 9.10 or 0.28% while the NASDAQ 100 closed lower by 2.88 or 0.03% and the Russell 2000 finished lower by 4.95 or 0.30%.
2) Crude Oil Futures also pulled back closing lower by $0.54 or 0.87% while Gold Futures advanced $5.20 or 0.33% despite strength in the U.S. dollar. The Bond market showed weakness and the yield on the 10-Year Treasury Note settled at 1.819%.
3) It was a great day for Tesla Inc. (TSLA) shareholders as the stock gained another $17.52 or 3.88% and finished the day at a new all-time high. Tesla launched its new Model Y vehicle in China today and the company's market cap is now almost as much as GM and Ford combined.
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
