Market Update for July 30, 2019
In today's update:
1) Small Caps advance but most other stocks close lower as equity markets pause ahead of Fed decision on interest rates. The Dow Jones Industrial Average dropped 23.33 or 0.09%, the S&P 500 fell 7.79 or 0.26% while the NASDAQ 100 closed lower by 19.72 or 0.24% and the Russell 2000 finished higher by 16.55 or 1.05%.
2) Crude Oil Futures jumped $1.29 or 2.27% on news of a supply drawdown while Gold Futures bounced $11.00 or 0.77% and the U.S. dollar finished flat. The Bond market showed strength and the yield on the 10-Year Treasury Note settled at 2.059%.
3) Apple Inc. (AAPL) reported quarterly earnings after market close on Tuesday and beat analyst estimates on just about every metric. AAPL reported earnings of $2.18 versus $2.10 expected and revenue of $53.8B vs 53.4B expected. They also raised their forward Guidance. Shares of AAPL are currently trading higher by $9.00 or 4.30% in the after-hours trading session.
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
