Market Update for June 6, 2019
In today's update:
1) U.S. Equities moved higher for the fourth straight trading session after news that the U.S. may delay tariffs on Mexico. The Dow Jones Industrial Average gained 181.09 or 0.71%, the S&P 500 added 17.34 or 0.61% while the Nasdaq 100 closed higher by 40.08 or 0.53% and the Russell 2000 finished lower by 3.24% or 0.21%.
2) Crude Oil Futures followed stocks higher gaining $1.53 or 2.96% while Gold Futures posted a gain of $4.60 or 0.34% on weakness in the U.S. dollar. The Bond market also moved higher and the yield on the 10-year Treasury Note finished the day at 2.125%.
3) While traders will be waiting for news on U.S. - Mexico trade talks, which are set to continue throughout the evening, the focus will quickly shift to the Employment Situation report tomorrow morning. The jobs report is scheduled to be released at 8:30 a.m. tomorrow and has the potential to move the markets substantially.
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
