Market Update for May 28, 2019
In today's update:
1) Money continued to flow out of Equities and into Bonds on Tuesday as hopes for a U.S. - China trade deal start to fade. The Dow Jones Industrial Average dropped 237.92 or 0.93%, the S&P 500 fell 23.67 or 0.84% while the Nasdaq 100 closed lower by 29.66 or 0.39% and the Russell 2000 finished lower by 10.09 or 0.67%.
2) Crude Oil Futures finished the day higher by $0.43 or 0.73% while Gold Futures dropped $4.90 or 0.38% after a rebound in the U.S. dollar. The Bond market moved sharply higher and the yield on the 10-year Treasury Note settled at 2.265%.
3) Teva Pharmaceutical Industries (TEVA) has been in a steady decline since reaching a high of $72.31 back in July of 2015. Today, TEVA plunged another $1.35 or 12.42% after being downgraded to Neutral from Buy by UBS due to its opioid-related litigation. Shares of TEVA finished the day at $9.52.
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
