1) Stocks finished the month of September with gains led by Technology shares after Apple Inc. received a price target increase by an Analyst at JPMorgan. The Dow Jones Industrial Average gained 96.58 or 0.36%, the S&P 500 added 14.95 or 0.50% while the NASDAQ 100 closed higher by 59.71 or 0.75% and the Russell 2000 finished higher by 2.90 or 0.19%.
2) Crude Oil Futures dropped sharply Monday losing $1.56 or 2.80% while Gold Futures plunged another $27.30 or 1.81% on more strength in the U.S. dollar. The Bond market traded slightly higher while the yield on the 10-Year Treasury Note settled at 1.669%.
3) JPMorgan analyst Samik Chatterjee raised his price target on Apple Inc. (AAPL) to $265 from $243 based on higher iPhone sales and his outlook for 2020. Chatterjee expects "solid consumer interest in 5G phones at the premium end" will cause sales in North America to spike.
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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