Market Update for July 16, 2019

In today's update:

1) Another quiet session turned negative after Trump says "long way to go" on trade talks with China. The Dow Jones Industrial Average dropped 23.53 or 0.09%, the S&P 500 fell 10.26 or 0.34% while the Nasdaq -100 closed lower by 35.39 or 0.43% and the Russell 2000 finished higher by 0.17 or 0.01%.

2) Crude Oil Futures dropped sharply losing $1.57 or 2.64% after State Secretary Pompeo says Iran is ready to negotiate missile program while Gold Futures fell $8.20 or 0.58% on strength in the U.S. dollar. The Bond market was slightly weaker today and the yield on the 10-year Treasury Note settled at 2.111%.

3) CSX Corp. (CSX) reported lower-than-expected second-quarter earnings and lowered its full-year revenue guidance due to trade-related demand issues. The stock is trading lower by $4.32 or 5.43% in after-hours trading while United Airlines Holdings Inc. (UAL) beat 2nd quarter earnings expectations and reported a jump in profits of 54%. Shares of UAL were trading higher by just $0.28 or 0.30% after market close.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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