Market Update for October 28, 2018

In Today's Update:

1) U.S. equities closed significantly lower on Friday despite a late day rally and another very volatile trading session on Wall Street. The Dow Jones Industrial Average dropped 296.24 or 1.19%, the S&P 500 fell 46.88 or 1.73% while the Nasdaq 100 closed lower by 151.12 or 2.06% and the Russell 2000 finished lower by 16.58 or 1.10%.

2) Crude Oil Futures managed a slight gain of $0.29 or 0.43% Friday but posted its third straight weekly loss while Gold Futures closed slightly higher gaining $3.00 or 0.24%. The Bond market edged higher and the yield on the 10-year treasury note move down to 3.077%.

3) This should be another busy and volatile week ahead on Wall Street as earnings season continues with reports from Facebook (FB), Apple (AAPL), Starbucks (SBUX), Baidu (BIDU) and many more. There will also be several economic data reports released including Consumer Confidence, ADP Non-Farm Employment report, Jobless Claims, Construction Spending, Total Vehicle Sales, and the Employment Situation report.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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