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%.