Market Update for Oct 22, 2019

In today's update:

1) Stocks closed lower Tuesday after disappointing pre-market earnings reports from McDonald's Corp. (MCD) and Travellers Companies (TRV). The Dow Jones Industrial Average dropped 39.54 or 0.15%, the S&P 500 fell 10.73 or 0.36% while the NASDAQ 100 closed lower by 58.69 or 0.72% and the Russell 2000 finished higher by 0.73 or 0.05%.

2) Crude Oil Futures advanced $0.90 or 1.69% on news that OPEC is considering deeper production cuts while Gold Futures gained $2.80 or 0.19% despite a bounce in the U.S. dollar. The Bond market traded higher and the yield on the 10-Year Treasury Note settled at 1.765%.

3) It was another very quiet day on Wall Street but the after-hours trading session is turning out to be very active after earnings reports from several companies including Chipotle Mexican Grill (CMG), Texas Instruments (TXN), and Snap Inc. (SNAP). CMG is currently trading lower by $4.07 or 0.49% while TXN is lower by $12.07 or 9.39% and shares of SNAP are lower by $0.71 or 5.29%.

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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