1) The tech sector led the way again today, but this time, it helped U.S. equities close higher. The Dow Jones Industrial Average gained 181.92 points, the S&P 500 added 23.39 points while the Nasdaq 100 closed higher by 83.75 points and the Russell 2000 finished higher by 19.06 points.
2) Crude Oil Futures dropped 1.6% after an unexpected increase in the U.S. Crude stockpiles while Gold Futures gained another $4.00 on slight weakness in the U.S. dollar. The Bond market ended the day slightly higher and the yield on the 10-year treasury note is currently at 2.835.
3) There has been a lot of talk about the potential of a trade war lately and the rhetoric may get amplified tonight . As of midnight tonight, the Trump Administration is expected to Levy another $34 billion in tariffs on China and China is expected to retaliate in a significant fashion. This could have a negative effect on tomorrow's 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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