Market Update for Sep 17, 2019

In today's update:

1) U.S. Equity markets finished mostly flat after another very quiet trading session on Wall Street. The Dow Jones Industrial Average gained a 33.98 or 0.13%, the S&P 500 added 7.74 or 0.26% while the NASDAQ 100 closed higher by 32.47 or 0.40% and the Russell 2000 finished lower by 6.31 or 0.40%.

2) Crude Oil Futures reversed most of yesterday's gain after the Saudi Energy Minister said their oil supply would be back online by the end of September while gold Futures dropped $2.00 or 0.13% despite a drop in the U.S. dollar. The Bond market showed strength today and the yield on the 10-Year Treasury note settled at 1.806%.

3) FedEx Corp. (FDX) reported quarterly earnings after market close and disappointed by missing both earnings and revenue estimates. They also lowered 2020 guidance which caught traders by surprise. Shares of FDX are currently trading lower by $15.97 or 9.22% 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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