Market Update for March 6, 2019

In Today's Update:

1) U.S. Equity markets closed lower for the third straight trading session on Wednesday as traders patiently wait for the jobs report due out on Friday. The Dow Jones Industrial Average dropped 133.17 or 0.52%, the S&P 500 fell 18.20 or 0.65% while the Nasdaq 100 closed lower by 70.44 or 0.93% and the Russell 2000 finished lower by 31.46 or 2.01%.

2) Crude Oil futures dropped again today after an unexpected surge in U.S. Crude stockpiles while Gold Futures managed a slight gain of $3.10 or 0.24% on weakness in the U.S. dollar. The Bond market edged higher and the yield on the 10-year treasury note settled at 2.690%.

3) Dollar Tree Inc. released its fourth quarter and fiscal year 2018 earnings report before market open. The report came in strong showing an increase in same-store sales of 2.4%. The discount retailer also announced plans to close up to 390 Family Dollar stores while renovating 1000 other locations. Shares of DLTR closed higher by $4.88 or 5.11%.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

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