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.
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
