Market Update for July 24, 2018

In today's update:

1) Positive earnings help the DOW close higher by almost 200 points. The big winners were United Technologies (UTX), Eli Lilly (LLY), Biogen (BIIB), and Google (GOOGL) parent Alphabet. The Dow Jones Industrial Average gained 197.65 points, the S&P 500 added 13.42 points while the Nasdaq 100 closed lower by 1.11 points and the Russell 2000 finished lower by 18.22 points.

2) U.S. Crude Oil Futures rose $0.60 or 0.94% while Gold Futures and the U.S. dollar finished the day little changed. The Bond market was fairly quiet today closing slightly higher while the yield on the 10-year treasury note is currently at 2.953.

3) Earnings will be the main focus on Wall Street this week and today there was one company that stood out and it wasn't Google. Whirlpool (WHR) lowered their forward guidance due to the negative impact from tariffs and the stock was punished closing lower by $21.89 or 14.52%.

 

 

 

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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