Market Update for October 24, 2018
In Today's Update:
1) Another painful day on Wall Street as weak housing numbers and news that China has not been participating in Bond auctions made an already bad situation much worse for U.S. equities. The Dow Jones Industrial Average dropped 608.01 or 2.41%, the S&P 500 fell 84.59 or 3.09%, while the Nasdaq 100 closed lower by 329.14 or 4.43% and the Russell 2000 finished lower by 57.89 or 3.79%.
2) Crude Oil Futures finished the day virtually flat while Gold Futures were down just $1.40 or 0.11% at the official close. The U.S. dollar rallied as did the Bond market causing the yield on the 10-year treasury note to fall back to 3.109%.
3) The after-hours trading session was very active after earnings reports from several big-name stocks. Tesla Inc. (TSLA) reported a much better-than-expected profit and was trading higher by 38.01 or 12.98%. Microsoft (MSFT), Advanced Micro Devices AMD, Visa (V), and Ford (F) also reported earnings and we're getting a lot of attention after-market close.
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
