Market Update for January 31, 2019
In Today's Update:
1) Strong earnings continue to push equity markets mostly higher and the S&P 500 has its best January since 1987. The Dow Jones Industrial Average dropped 15.19 or 0.06%, the S&P 500 added 23.05 or 0.86% while the Nasdaq 100 closed higher by 98.66 or 1.37% and the Russell 2000 finished higher by 12.48 or 0.84%.
2) Crude Oil Futures advanced another $0.30 or 0.54% and closed out the month with a gain of more than 18% while Gold Futures hit a nine-month high with a gain of $9.70 or 0.75%. The Bond market closed significantly higher and the yield on the 10-year treasury note dropped to 2.644%.
3) Amazon (AMZN) reported quarterly earnings after market close and has been dropping sharply in after-hours trading. AMZN beat analysts expectations for EPS coming in at $6.04 versus $5.68 on record holiday sales but its sales outlook fell short. Amazon is currently trading lower by $83.73 per share or 4.87%.
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
