Market Update for July 18, 2018

In today's update:

1) U.S. equities closed mostly higher today as earnings season continued with Morgan Stanley (MS), CSX Corp (CSX), American Express (AXP), IBM (IBM), and EBay (EBAY) all reporting today. The Dow Jones Industrial Average gained 79.40 points, the S&P 500 added 6.07 points while the Nasdaq 100 closed lower by 0.67 points and the Russell 2000 finished higher by 4.60 points.

2) Crude Oil Futures bounced back gaining $0.79 or 1.16% while Gold Futures reversed course midday and managed to close higher by $0.40. The Bond market dropped sharply today pushing the yield on the 10-year treasury note up to 2.875. The U.S. dollar did move slightly higher today but closed well off its high.

3) This morning, both MS and CSX reported better than expected earnings and the share prices gained $1.38 or 2.81% and $4.56 or 7.08% respectively. After market hours, AXP, IBM, and EBAY also announced earnings but are seeing mixed results.

 

 

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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