Market Update for Nov 6, 2019
In today's update:
1) Another very quiet trading session leads to another mixed close on Wall Street Wednesday. The Dow Jones Industrial Average was flat, the S&P 500 gained 2.16 or 0.07% while the NASDAQ 100 closed lower by 24.05 or 0.29 and the Russell 2000 finished lower by 10.07 or o.63%.
2) Crude Oil Futures dropped $0.77 or 1.33% on an unexpectedly huge build in U.S. Crude Oil Inventories while Gold Futures advanced $9.10 or 0.61%. The Bond market finished the day slightly higher and the yield on the 10-Year Treasury note settled at 1.826%.
3) Aside from the unexpectedly high crude oil inventory number, there was nothing of significance until after-market close today. Square Inc. (SQ), Roku Inc. (ROKU), and Qualcomm Inc. (QCOM) reported quarterly earnings after hours. SQ and QCOM beat estimates and are trading higher by 3.52% and 6.63% respectively while ROKU reported a loss of $0.22 per share and is trading lower by $20.60 or 14.60%.
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
