Market Update for July 29, 2019
In today's update:
1) U.S. Equity markets closed mixed on Monday after another low-volume trading session as traders exercise patience ahead of the Federal Reserve's decision on interest rates Wednesday.
2) Crude Oil Futures finished the day higher by $0.85 or 1.51% while Gold Futures rallied and closed higher by $7.40 or 0.52%. The Bond market was flat and the yield on the 10-year Treasury Note settled at 2.068%.
3) The quarterly earnings report that everyone was waiting for finally happened. Beyond Meat Inc. (BYND) released earnings after market close and reported a much wider than expected loss. The plant-based meat product company reported a loss of $0.24 per share compared to analyst expectations of a per share loss of $0.08. BYND also announced a secondary share offering and their shares are currently trading sharply lower in after-hours trading.