Market Update for January 8, 2019

In Today's Update:

1) U.S. Equities post gains for the third straight session after another choppy, low-volume day on Wall Street. The Dow Jones Industrial Average gained 256.10 or 1.09%, the S&P 500 added 24.72 or 0.97% while the Nasdaq 100 closed higher by 73.53 or 1.08% and the Russell 2000 finished higher by 21.19 or 1.51%.

2) Crude Oil Futures jumped again today closing higher by $1.16 or 2.37% while Gold Futures fell $3.70 or 0.29% after a slight rise in the U.S. dollar. The Bond market was lower again today and the yield on the 10-year treasury note rose to 2.728%.

3) It was an active day for the retail sector as a bankruptcy judge gave Sears (SHLDQ) Chairman Eddie Lampert another chance to buy the department store chain while JCPenney (JCP) announced that holiday same-store sales dropped 3.5% and that they are planning to close 3 stores by Spring.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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