Market Update for Oct 28, 2019

In today's update:

1) Stock indexes finished at record highs ahead of the Federal Reserve meeting, the October jobs report, and numerous earnings reports. The Dow Jones Industrial Average gained 132.66 or 0.49%, the S&P 500 added 16.87 or 0.56% while the NASDAQ 100 closed higher by 82.87 or 1.01% and the Russell 2000 finished higher by 13.22 or 0.85%.

2) Crude Oil Futures dropped for the first time in five trading sessions losing $0.88 or 1.55% on weak Chinese producer prices while Gold Futures fell $9.90 or 0.66%. The Bond market continued to drop and the yield on the 10-Year Treasury Note settled at 1.847%.

3) After-market close, Alphabet Inc. (GOOGL) and Beyond Meat Inc. (BYND) reported quarterly earnings and both stocks are trading substantially lower in the after-hours trading session. GOOGL missed earnings estimates and is currently trading lower by $25.88 or 2.01% while BYND beat estimates handily and raised forward guidance but is also trading lower by $8.81 or 8.36%.

About the author

Vince Vora is the head trader at 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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