Market Update for Oct 29, 2019

In today's update:

1) U.S. Equity markets closed mostly lower Tuesday as traders look forward to the Federal Reserve's decision on interest rates tomorrow. The Dow Jones Industrial Average dropped 19.26 or 0.07%, the S&P 500 fell 2.53 or 0.08% while the Nasdaq 100 closed lower by 49.13 or 0.59% and the Russell 2000 finished higher by 5.16 or 0.33%.

2) Crude Oil Futures fell $0.38 or 0.68% on news of a rise in inventories while Gold Futures fell $4.80 or 0.32% despite another slight drop in the U.S. dollar. The Bond market was flat and the yield on the 10-Year Treasury note settled at 1.833%.

3) Earnings season continued with Amgen Inc. (AMGN) and Mattel Inc. (MAT) reporting after-market close. AMGN missed revenue estimates and is currently trading lower by $1.49 or 0.71% while MAT beat estimates and announced a new CEO. Shares of MAT are trading higher by $2.11 or 19.98% 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

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