Market Update for January 14, 2019
In Today's Update:
1) The Technology, Healthcare and Utilities sectors led stocks lower for the second straight session as Traders continue to worry about slowing earnings growth. The Dow Jones Industrial Average dropped 86.11 or 0.36%, the S&P 500 fell 13.65 or 0.53% while the Nasdaq 100 closed lower by 65.56 or 0.94% and the Russell 2000 finished lower by 14.57 or 1.01%.
2) Crude Oil Futures dropped another $0.81 or 1.57% after reports of weaker imports and exports in China which can lead to a slowdown in fuel demand while Gold Futures gained $2.30 or 0.18%. The Bond market declined and the yield on the 10-year treasury note was little changed at 2.703%.
3) Shares of Alibaba (BABA) have been trending lower since the middle of last year and may continue doing so after the company's President Michael Evans said "China has slowed down due to natural causes and ongoing trade tensions with the US.". BABA closed lower by $2.05 or 1.35%.
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
