Market Update for July 31, 2019
In today's update:
1) Stock sell-off hard after the Federal Reserve cut rates by a quarter-point but hinted that future rate cuts are not guaranteed. The Dow Jones Industrial Average dropped 333.75 or 1.23%, the S&P 500 fell 32.80 or 1.09% while the NASDAQ 100 closed lower by 98.19 or 1.19% and the Russell 2000 finished lower by 10.99 or 0.69%.
2) Crude Oil Futures rose as U.S Crude Stockpiles continue to drop while Gold Futures plunged after the Fed rate cut and a huge spike in the U.S. dollar. The Bond market soared and the yield on the 10-Year Treasury Note settled at 2.011%.
3) The Federal Reserve cut interest rates by a quarter-point sparking a spike in the U.S. dollar and a sell-off in the equity markets. The quarter-point cut was widely expected but now where do we go from here and what should we expect for stocks going forward. We will answer this question and more in today's video.
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
