Market Update for Oct 15, 2019
In today's update:
In today's update:
1) U.S. Equity markets finished higher on Tuesday after a strong start to the earnings season by Banking and Healthcare stocks. The Dow Jones Industrial Average gained 237.44 or 0.89%, the S&P 500 added 29.53 or 1.00% while the Nasdaq 100 closed higher by 100.06 or 1.24% and the Russell 2000 finished higher by 17.87 or 1.19%.
2) Crude Oil Futures fell $0.70 or 1.30% on weak Chinese economic data while Gold Futures dropped $12.70 or 0.85% despite more weakness in the U.S. dollar. The Bond market was also weak and the yield on the 10-Year Treasury Note settled at 1.769%.
3) Earnings season kicked-off with a strong start as nine out of the eleven companies that reported earnings before the opening bell beat estimates. UnitedHealth Group (UNH), Johnson & Johnson (JNJ), and JPMorgan (JPM) were among the group that exceeded expectations while Goldman Sachs (GS) and Wells Fargo (WFC) reported weaker-than-expected results.
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
