Market Update for July 29, 2018
In today's video:
1) It was a sea of red on Wall Street Friday as stocks, commodities, and even the U.S. dollar closed lower. The Dow Jones Industrial Average dropped 76.01 points, the S&P 500 fell 18.62 points while the Nasdaq 100 closed lower by 114.77 points and the Russell 2000 finished lower by 32.02 points.
2) Crude Oil Futures dropped again on Friday and posted its fourth straight weekly decline while Gold Futures closed lower by $2.70. The Bond market traded flat and the yield on the 10-year treasury note closed at 2.955 while the U.S. dollar also closed slightly lower.
3) While earnings season continues, the focus will switch to jobs. This week, traders will be paying close attention to the ADP Employment Report on Wednesday and giving special attention to the Employment Situation report on Friday. These reports could impact the Fed's decision on rates going forward.
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
