Market Update for Oct 2, 2019
In today's update:
1) U.S. Equity markets closed lower for a second straight session after revised August jobs report disappoints. The Dow Jones Industrial Average dropped 494.42 or 1.86%, the S&P 500 fell 52.64 or 1.79% while the NASDAQ 100 closed lower by 123.44 or 1.56% and the Russell 2000 finished lower by 13.79 or 0.92%.
2) Crude Oil Futures also closed sharply lower on another surprise build in U.S. Crude Oil Inventories while Gold Futures advanced $17.30 or 1.16% on another drop in the U.S. dollar. The Bond market finished slightly higher and the yield on the 10-Year Treasury Note settled at 1.593%.
3) Tesla Inc. (TSLA) has been trading in a range since the middle of June but could break out of that range as early as tomorrow. TSLA announced lower-than-expected vehicle deliveries for the third quarter and shares of TSLA are currently trading lower by $13.64 for or 5.61% in the after-hours trading session.
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
