Market Update for July 17, 2019
In today's update:
1) Stocks post second straight day of losses as second-quarter earnings become the main focus of concern. The Dow Jones Industrial Average dropped 115.78 or 0.42%, the S&P 500 fell 19.62 or 0.65% while the Nasdaq 100 closed lower by 37.59 or 0.46% and the Russell 2000 finished lower by 11.22 to 0.72%.
2) Crude Oil Futures fell $1.04 or 1.80% after a surprise build in U.S. Crude stockpiles while Gold Futures jumped gaining $17.00 or 1.20% on weakness in the U.S. dollar. The Bond market rallied and the yield on the 10-year Treasury Note settled at 2.050%.
3) Netflix Inc. (NFLX) is tanking in the after-hours trading session after reporting second-quarter earnings and beating analyst expectations for earnings per share but missing big on domestic and international paid subscriber additions. Shares of NFLX are trading lower by $44.05 per share or 12.15% 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
