Market Update for May 5, 2019

In today's update:

1) Big gains for U.S. Equities on Friday after a much stronger-than-expected jobs report and the lowest unemployment rate since December of 1969. The Dow Jones Industrial Average gained 197.16 or 0.75%, the S&P 500 added 28.12 or 0.96% while the Nasdaq 100 closed higher by 127.22 or 1.58% and the Russell 2000 finished higher by 31.37 1.98%.

2) Crude Oil Futures were flat while Gold Futures dropped $8.20 or 0.64% on weakness in the U.S. dollar. The Bond market posted gains and the yield on the 10-year Treasury Note finished the week at 2.522%.

3) Amazon Inc. (AMZN) had another big day on Friday closing higher by $61.64 or 3.24%. The online retailer reported blowout earnings last week and this week announced that they are already capable of offering same-day and one-day delivery to 72% of the total U.S. population. AMZN looks poised for a move to new all-time highs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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