Market Update for January 22, 2019
In Today's Update:
1) The U.S. Equity markets snapped a 4-day win streak after the U.S. cancels a trade planning meeting with China and December Existing Home Sales plunge 4.6%. The Dow Jones Industrial Average dropped 301.87 or 1.22%, the S&P 500 fell 37.81 or 1.42% while the Nasdaq 100 closed lower by 136.87 or 1.91% and the Russell 2000 finished lower by 25.05 or 1.69%.
2) Crude Oil Futures dropped sharply and closed lower by $1.03 or 1.91% while Gold Futures advanced $1.80 or 0.14%. The Bond market posted gains sending the yield on the 10-year treasury note down to 2.739%.
3) Earnings season continues with IBM (IBM), Capital One (COF), Ameritrade (AMTD), and Interactive Brokers (IBKR) all reporting after-market close. IBM beat estimates for both earnings and 2019 guidance sending the stock higher by more than $8.00 per share or 7% in after-hours trading. AMTD was also trading higher while COF and IBKR we're both trading lower.