Market Update for January 29, 2019
In Today's Update:
1) Stocks closed mixed after a low range, low volume day on Wall Street. The Dow Jones Industrial Average gained 51.74 or 0.21%, the S&P 500 fell 3.85 or 0.15% while the Nasdaq 100 closed lower by 57.39 or 0.81% and the Russell 2000 finished lower by 2.13 or 0.14%.
2) Crude Oil Futures moved significantly higher after the U.S. slapped sanctions on Venezuela while Gold Futures hit an eight-month high and finished the day up $7.30 or 0.56%. The Bond market also moved higher and the yield on the 10-year treasury note settled at 2.710%.
3) Traders have been anxiously waiting for Apple's earnings report ever since CEO Tim Cook had warned that their numbers could disappoint. AAPL actually beat analysts estimates for both EPS and Revenue but did lower their guidance slightly. AAPL is a stock that can certainly move the markets, and so far, the stock is trading higher by $4.00 or 2.6% in after-hours trading.
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
