Market Update for March 24, 2019
In Today's Update:
1) Stocks plunged on Friday after an inversion of the yield curve in the U.S. Treasury market spread fear throughout the U.S. Equity markets. The Dow Jones Industrial Average dropped to 460.19 or 1.77%, the S&P 500 fell 54.17 or 1.90% while the Nasdaq 100 closed lower by 196.29 or 2.50% and the Russell 2000 finished lower by 56.49 or 3.62%.
2) Crude Oil Futures also fell on Friday closing lower by $1.01 or 1.68% while Gold Futures moved higher for the second straight session as did the U.S. dollar. The Bond market soared and the yield on the 10-year Treasury Note dropped to 2.442%.
3) After the Fed's new stance on interest rates and the yield curve inversion in the Bond market, economic data reports will be followed much more closely. Some of the more important reports scheduled to be released this week include Building Permits, Housing Starts, Consumer Confidence, Crude Oil Inventories, Jobless Claims, GDP, and Pending Home Sales.
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
