Market Update for October 21, 2018

In Today's Update:

1) The Dow 30 closed in positive territory on Friday thanks to Procter & Gamble (PG) which surged 8.80% on a much better than expected earnings report but the other three main equity indices closed in the red. The Dow Jones Industrial Average gained 64.89 or 0.26%, the S&P 500 fell 1.00 or 0.04% while the Nasdaq 100 closed lower by 36.11 or 0.48% and the Russell 2000 finished lower by 18.71 or 1.20%.

2) Crude Oil Futures did post a gain of $0.72 or 1.05% on Friday but closed lower for the week while Gold Futures and the U.S. dollar both posted losses. The Bond market traded slightly lower and the yield on the 10-year treasury note finished the week at 3.195%.

3) Expect another busy week ahead for the U.S. Equity markets as the threats of rising rates, and a trade war with China continue along with Earnings season and several economic data reports due out including, MBA Mortgage Apps, House Price Index, New Home Sales, Crude Oil Inventories, Jobless Claims , Consumer Confidence , GDP, and Consumer Sentiment just to name a few.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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