Market Update for October 30, 2018
In Today's Update:
1) Traders breathe a sigh of relief as stocks bounce and close near daily highs. The Dow Jones Industrial Average gained 431.72 or 1.77%, the S&P 500 added 41.38 or 1.57% while the Nasdaq 100 closed higher by 111.36 or 1.58% and the Russell 2000 finished higher by 29.33 or 1.99%.
2) Crude Oil Futures remain under pressure dropping $0.66 or 0.98% while Gold Futures hit a two-week low after the U.S. dollar Index hit a new 52-week high. The Bond market traded lower lifting the yield on the 10-year treasury note to 3.127%.
3) The much-anticipated earnings report from Facebook (FB) was released after market hours and the reaction from Traders has been mixed. Facebook beat analyst expectations on earnings but missed estimates on revenue and daily active users. The stock is currently 4% lower in after-hours Trading.
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
