Market Update for January 17, 2019

In Today's Update:

1) Stocks rallied in afternoon trading after a report stating the U.S. is considering easing tariffs on China during the negotiation process. The Dow Jones Industrial Average gained 162.94 or 0.67%, the S&P 500 added 19.86 or 0.76% while the Nasdaq 100 closed higher by 49.77 or 0.71% and the Russell 2000 finished higher by 12.55 or 0.86%.

2) Crude Oil Futures were flat closing lower by just $0.08 or 0.15% while Gold Futures also dropped closing lower by $2.10 or 0.16%. The U.S. dollar continued to show some weakness while the Bond market traded slightly lower and the yield on the 10-year treasury note jumped to 2.748%.

3) Morgan Stanley (MS) reported disappointing earnings this morning before market open and finished the day lower by $1.96 or 4.41% while traders held their breath over the much-anticipated earnings report from Netflix (NFLX) due out after market close. Unfortunately, Netflix delivered a mixed report beating EPS estimates but coming in below expectations on Revenue estimates. Shares of NFLX are currently trading lower by more than 3% 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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