Market Update for Mar 30, 2020

In today's update:

1) U.S. Equity indexes gained over 3% Monday as stocks extended last week's rally. The Dow Jones Industrial Average gained 690.70 or 3.19%, the S&P 500 added 85.18 or 3.35% while the NASDAQ 100 closed higher by 271.77 or 3.62% and the Russell 2000 finished higher by 26.33 or 2.33%.

2) Crude Oil Futures dropped to an 18-year low as global demand continues to diminish while Gold Futures fell $12.40 or 1.20% after a bounce in the U.S. dollar. The Bond market was weak today and the yield on the 10-Year Treasury Note settled at 0.688%.

3) Shares of Microsoft Corp (MSFT) gained $10.53 or 7.03% today after the company said there has been "a surge in the use of its cloud services". Microsoft's TEAM App, which enables people to hold video calls and Exchange chat messages, has added 12 million daily users in just one week and could and many more as the coronavirus lockdown continues.

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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