In Today's Update:
1) Apple Inc. (AAPL) leads equities lower as fear over an economic slowdown cause traders and investors to liquidate Holdings. The Dow Jones Industrial Average dropped 660.02 or 2.83%, the S&P 500 fell 62.14 or 2.48% while the Nasdaq 100 closed lower by 202.43 or 3.04% and the Russell 2000 finished lower by 25.01 or 1.84%.
2) Crude Oil Futures bounced after an initial move lower to close higher by $0.45 or 0.95% while Gold Futures turned into the safe-haven trade of the day and finished higher by $11.80 or 0.92%. The Bond market moved significantly higher today and the yield on the 10-year treasury note fell to 2.551%.
3) As we move into the last trading day of the first week of this year, all eyes and ears will be on the Employment Situation report due out tomorrow and the Federal Reserve chairman Jerome Powell's comments. Keep an eye on the Equity Futures market tonight and expect another volatile trading session tomorrow.