Market Update for June 2, 2019
In today's update:
1) Both stocks and bond yields fell sharply on Friday after Trump announced plans to impose escalating tariffs on Mexico. The Dow Jones Industrial Average dropped 354.84 or 1.41%, the S&P 500 fell 36.80 or 1.32% while the Nasdaq 100 closed lower by 114.57 or 1.51% and the Russell 2000 finish lower by 20.04 or 1.35%.
2) Crude Oil Futures plunged $3.23 or 5.71% while Gold Futures spiked $17.79 or 1.37% and the U.S. dollar gave back gains from the previous three trading sessions. The Bond market soared and the yield on the 10-year Treasury Note settled at 2.13%.
3) The week ahead is going to be a very important one for the U.S. Equity markets with several economic data reports scheduled to be released. There will also be two very important jobs reports along with comments from the Federal Reserve Chairman Jerome Powell.
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
