Market Update for July 24, 2019
In today's update:
1) Stocks closed mixed on Wednesday as chipmakers rallied but earnings from industrial giants were disappointing. The Dow Jones Industrial Average dropped 79.22 or 0.29%, the S&P 500 added 14.09 or 0.47% while the NASDAQ 100 closed higher by 70.10 or 0.85% and the Russell 2000 finished higher by 25.46 or 1.64%.
2) Crude Oil Futures fell $0.88 or 1.55% despite a draw in U.S. Crude Inventories while Gold Futures rose by $4.00 or 0.28%. The Bond market showed strength today and the yield on the 10-year Treasury Note settled at 2.048%.
3) Earnings reports dominated the pre-market trading session and are once again the main focus of the after-hours trading session. Facebook (FB), Tesla (TSLA), PayPal (PYPL), and Ford (F) all reported quarterly earnings and all are making significant moves 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
