Market Update for October 23, 2018
In Today's Update:
1) Stocks gapped and traded significantly lower in early morning trading before bouncing back to pair losses in the afternoon session. The Dow Jones Industrial Average dropped 125.98 or 0.50%, the S&P 500 fell 15.19 or 0.55% while the Nasdaq 100 closed lower by 31.09 or 0.42% and the Russell 2000 finished lower by 12.91 or 0.84%.
2) Crude Oil Futures plunged today dropping $3.27 or 4.71% while Gold Futures hit a three-month high as investors look for safety. The Bond market gave up earlier gains to close flat while the yield on the 10-year treasury note settled at 3.169% and the U.S. dollar traded slightly lower.
3) Shares of Tesla Inc. (TSLA) got a huge boost and soared $33.19 or 12.72% ahead of its much-anticipated earnings report scheduled for tomorrow after-market close. Traders and investors are expecting Tesla to report a slight profit tomorrow which could give the stock another big boost.
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
