Market Update for Oct 30, 2019
In today's update:
1) U.S. Equity markets closed mostly higher after the Federal Reserve cut interest rates by a quarter-point for the third time this year. The Dow Jones Industrial Average gained 115.27 or 0.43% the S&P 500 added 9.88 or 0.33% while the NASDAQ 100 closed higher by 27.12 or 0.33% and the Russell 2000 finished lower by 4.23 or 0.27%.
2) Crude Oil Futures dropped $0.64 or 1.15% while Gold Futures advanced $7.30 or 0.49% after the Fed indicated it would pause future rate cuts until inflation rises significantly. The bond market rallied and the yield on the 10-Year Treasury note settled at 1.777%.
3) Stocks are trading significantly higher in today's after-hours trading session. Apple Inc. (AAPL), Facebook , and Starbucks all reported better-than-expected earnings reports apple is trading Higher by 4.42 or 1.82% while Facebook Inc. (FB) is higher by $9.56 or 5.08% and Starbucks Corp. (SBUX) is higher by $2.01 or 2.39%.
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
