Market Update for March 3, 2019
In Today's Update:
1) Stocks broke a three-day losing streak and closed mostly higher on Friday after White House Economic Advisor Larry Kudlow said U.S. and China are making "fantastic" progress in their negotiations. The Dow Jones Industrial Average gained 110.32 or 0.43%, the S&P 500 added 19.20 or 0.69% while the Nasdaq 100 closed higher by 62.82 or 0.83% and the Russell 2000 finished higher by 14.09 or 0.89%.
2) Crude Oil Futures closed sharply lower on fresh demand worries while Gold Futures plunged $21.60 or 1.64% on strength in the U.S. dollar. The Bond market traded lower and the yield on the 10-year treasury note settled at 2.754%.
3) We have another very busy week ahead for economic data releases including Building Permits, Housing Starts, Factory Orders, Jobless Claims, GDP, and Consumer Spending just to name a few. However, the report that the whole marketplace will be anxiously waiting for will be the all-important Employment Situation report due out on Friday before market open.
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
