Market Update for June 17, 2019
In today's update:
1) U.S. Equity markets closed slightly higher after a very quiet day on Wall Street ahead of Wednesday's Fed decision on interest rates. The Dow Jones Industrial Average gained 22.92 or 0.09%, the S&P 500 added 2.69 or 0.09% while the Nasdaq 100 closed higher by 48.37 or 0.62% and the Russell 2000 finished higher by 10.25 or 0.67%.
2) Crude Oil Futures closed lower dropping $0.59 or 1.12% while Gold Futures fell 1.40 or 0.10% on slight strength in the U.S. dollar. The Bond market traded higher and the yield on the 10-year Treasury Note settled at 2.091%.
3) The Federal Reserve is scheduled to start a two-day monetary policy meeting on Tuesday and will announce their decision on Wednesday afternoon. Traders expect rates to be left unchanged but will be looking for clues to potential rate cuts in coming months.
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
