Market Update for Mar 4, 2020

In today's update:

1) U.S. Equity markets soared Wednesday posting one of the biggest gains ever. The Dow Jones Industrial Average gained 1173.45 or 4.53%, the S&P 500 added 126.75 or 4.22% while the NASDAQ 100 closed higher by 224.00 or 3.85% and the Russell 2000 finished higher by for 45.11 or 3.04%.

2) Crude Oil Futures closed slightly lower ahead of the OPEC meeting while Gold Futures dropped just $3.00 or 0.2% on minor strength in the U.S. dollar. The Bond market closed lower and the yield on the 10-Year Treasury Note settled at 1.006%.

3) Marvell Technology Group (MRVL) and Zoom Video Communications (ZM) reported better-than-expected quarterly earnings after-market close. MRVL is being rewarded in after-hours trading and is currently trading higher by $2.21 or 9.78% while ZM is trading lower by $5.80 or 4.97%.

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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