Market Update for May 23, 2019
In today's update:
1) U.S. Equity markets closed significantly lower on Thursday as concern grows over the lock of ongoing U.S. - China trade talks. The Dow Jones Industrial Average dropped 286.14 or 1.11%, the S&P 500 fell 34.03 or 1.19% while the Nasdaq 100 closed lower by 122.56 or 1.58% and the Russell 2000 finished lower by 30.25 0r 1.97%.
2) Crude Oil Futures plunged another $3.51 or 5.7% on worries of slowing global economic growth and weakening fuel demand while Gold advanced $10.90 or 1% on weakness in the U.S. dollar. The Bond market soared today and the yield on the 10-year Treasury Note dropped to 2.323%.
3) The after-hours trading session was active today with numerous companies reporting quarterly earnings. After-market close, HPQ, INTU, ADSK, ROST, and DECK reported earnings with mixed results which could result in substantial gaps at tomorrow's open.
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
