Market Update for October 31, 2018

In Today's Update:

1) Midway through the trading day U.S. equities are trading significantly higher compared to yesterday's close but are starting to show some weakness. The Dow Jones Industrial Average is higher by 303.97 or 1.22%, The S&P 500 has added 38.61 or 1.41% while the Nasdaq 100 is currently higher by 160.04 or 2.24% and the Russell 2000 is trading higher by 12.03 or 0.80%.

2) Crude Oil Futures are trading slightly higher while Gold Futures are trading lower by $8.80 or 0.72% on continued strength in the U.S. dollar. The Bond market has been quiet today and the yield on the 10-year treasury note is at 3.142%.

3) The ADP Employment Report came in better than expected showing private payroll growth of 277,000 jobs while Facebook (FB) is actually trading higher today after a mixed earnings report and trading lower in yesterday's after-hours trading session. Tomorrow's after-hours trading session should be very busy after Apple Inc. (AAPL) releases their much-anticipated earnings report.

Full Transcript:

Hello again everyone it's Vince Vora from TradingWins and this is our midday update for October 31st 2018. Let's have a look at how the markets have done so far this morning and so far so good we've gotten a gap higher and a continuation of that move higher so far.
Today the dow up 303 points the S&P; 500 up 38 points while the Nasdaq is up 160 points, as all three make their way towards that down sloping 20 while the Russell was up about 12 points. So, question is can we hold on to these gains and that's what we need to look at into the close.
So it's been a good morning let's have a look at how the afternoon goes. Bonds today so far fairly quiet on the yield on the 10-year note is at 3.42%, crude edging higher but slightly pretty flat on the day while gold down almost nine points today and that is on continued strength in the US dollar $DXY. There we go a fresh new high once again this morning and this looks like it is likely to continue.
Now Facebook $FB yesterday came out with earnings and it was a mixed bag where they beat on the earnings number but missed on revenue and their daily active user number and after hours yesterday they were getting beaten up but yet this morning, I guess everyone liked what they had to say in the conference call because this morning it capped up and although it straining off its highs it's certainly doing well right now I see it up a little so not bad at all.
Tomorrow is a biggie as after market close tomorrow should be very active as Apple Computer $AAPL reports and so far Apple today is up about 3% as well but the market certainly holding their breath over that report and again it will be released tomorrow after market close. that's about it for now enjoy the rest of your day and we will see you on our next update.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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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