Market Update for January 30, 2019
In Today's Update:
1) Stocks end the day sharply higher lead by Boeing (BA) and Apple (AAPL) after the Fed signals patience with rate hikes. The Dow Jones Industrial Average gained 434.90 or 1.77%, the S&P 500 added 41.05 or 1.55% while the Nasdaq 100 closed higher by 154.79 or 2.20% and the Russell 2000 finished higher by 15.49 or 1.05%.
2) Crude Oil Futures advanced another $0.98 or 1.84% to a new two-month high while Gold Futures continued to climb as the U.S. dollar weakened after the Fed announcement. The Bond market was flat but the yield on the 10-year treasury note dropped to 2.684%.
3) The earnings parade continued after market close with mixed results from some of Wall Street's biggest companies. Facebook (FB), Microsoft (MSFT), Qualcomm (QCOM), Visa (V), and PayPal (PYPL) all beat expectations but Tesla (TSLA) missed its EPS estimate by a wide margin and is currently the most heavily traded stock 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
