Market Update for January 2, 2019
In Today's Update:
1) Stocks started the first trading session of the year lower but rallied in afternoon trading to close in positive territory. They Dow Jones Industrial Average gained 18.78 or 0.08%, the S&P 500 added 3.18 or 0.13% while the Nasdaq 100 closed higher by 30.66 or 0.46% and the Russell 2000 finished higher by 7.34 or 0.54%.
2) Crude Oil Futures also recovered from earlier losses after tanker-tracking data showed a big drop in Saudi Arabia's crude oil exports while Gold Futures added $4.10 or 0.32%. The Bond market continued to climb and the yield on the 10-year treasury note settled at 2.649%.
3) Shares of Apple Inc. (AAPL) closed flat today but are trading significantly lower in after-hours trading. AAPL CEO Tim Cook issued a letter to investors announcing that the company is lowering their fiscal 2019 first-quarter earnings guidance but expects all other items to remain in line with original guidance estimates. Shares of AAPL are currently trading lower by $12.00 per share or nearly 8%.
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
