Market Update for June 19, 2019
In today's update:
1) U.S. Equities took another step toward all-time highs on Tuesday on renewed hopes of a trade deal with China and a rate cut by the Federal Reserve tomorrow. The Dow Jones Industrial Average gained 353.01 or 1.35%, the S&P 500 added 28.08 or 0.97% while the Nasdaq 100 closed higher by 108.8 6 or 1.39% and the Russell 2000 finished higher by 17.48 or 1.14%.
2) Crude Oil Futures bounced to close higher by $2.15 or 4.14% while Gold Futures finished the day higher by $7.20 or 0.54% despite more strength in the U.S. dollar. The Bond market moved higher for the fifth straight session and the yield on the 10-year Treasury Note dropped to 2.057%.
3) The Equity markets could get another boost tomorrow if the Fed announces a rate cut at 2 p.m. Eastern. With all the drama between Trump and Fed chairman Jerome Powell, I personally think it's highly likely the Federal Reserve announces a rate cut which should cause stocks to move even higher.
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
