Market Update for November 26, 2018
In Today's Update:
1) Stocks rebound sharply after taking significant losses last week. Can stocks continue to climb or will this be a fool's rally? The Dow Jones Industrial Average gained 354.29 or 1.46%, the S&P 500 added to 40.89 or 1.55% while the Nasdaq 100 closed higher by 142.87 or 2.06% and the Russell 2000 finished higher by 17.28 or 1.16%.
2) Crude Oil Futures also bounced trading higher by $1.19 or 2.36% while Gold Futures moved slightly lower as the U.S. dollar continues to climb. The Bond market also traded lower and the yield on the 10-year treasury note settled at 3.062%.
3) General Motors (GM) shocked the markets last night announcing that they plan to halt production at 5 plants in North America, as well as, two plants outside North America. These cuts will eliminate over 14,000 jobs or 15% of its salaried workers. Shares of GM finished the day higher by $1.72 or 4.79%.
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
