Market Update for May 16, 2019
In today's update:
1) Stocks post gains for the third consecutive trading session led by Walmart (WMT), Cisco Systems (CSCO), and Bank shares. The Dow Jones Industrial Average gained 214.66 or 0.84%, the S&P 500 added 25.36 or 0.89% while the Nasdaq 100 closed higher by 75.90 or 0.97% and the Russell 2000 finished higher by 8.97 or 0.58%.
2) Crude Oil Futures had another strong day climbing $1.12 or 1.81% while Gold Futures were down sharply losing $10.80 or 0.83%. The Bond market was weak today and the yield on the 10-year Treasury Note settled at 2.393%.
3) Yesterday, CSCO dominated the after-hours trading session and today it was Nvidia (NVDA), Pinterest (PINS), and Applied Materials (AMAT) as all three reported quarterly earnings after the closing bell. Both NVDA and AMAT beat estimates and are trading significantly higher while PINS reported a much larger-than-expected loss and is trading substantially lower.
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
