In Today's Update:
1) Stocks closed well off their lows but still finished the day significantly lower despite a likely trade resolution between the U.S. and China. The Dow Jones Industrial Average dropped 206.67 or 0.79%, the S&P 500 fell 10.88 or 0.39% while the Nasdaq 100 closed lower by 17.79 or 0.23% and the Russell 2000 finished lower by 14.20 or 0.89%.
2) Crude Oil Futures managed to gain $0.62 or 1.11% while Gold Futures fell further closing lower by $11.60 or 0.89%. The Bond market rebounded slightly and the yield on the 10-year treasury note dropped to 2.722%.
3) Urban Outfitters (URBN) has been on a roller-coaster ride for years but its latest drop, which started last August, has traders and investors very worried. Shares of URBN have fallen over 42% since last summer and are currently testing a key level of support. The lifestyle Products Company reports quarterly earnings tomorrow after market close.