Market Update for September 26, 2018
In today's video:
1) U.S. equities reversed earlier gains and closed near session Lows after the Federal Reserve announced the third rate hike this year. The Dow Jones Industrial Average dropped 106.93 points, the S&P 500 fell 9.59 points while the Nasdaq 100 closed lower by 17.11 points and the Russell 2000 finished lower by 17.20 points.
2) Gold Futures also fell following the Fed's rate hike dropping $6.60 or 0.55% while Crude Oil Futures closed lower by $0.24 or 0.33%. The Bond market actually increased on the news and the yield on the 10-year treasury note fell to 3.049%.
3) The Federal Reserve's decision to raise interest rates today was widely expected but some comments made by Federal Reserve Chairman Jerome Powell were not. Specifically, he stated that he doesn't expect any surprises to the upside for inflation but is still expecting to raise rates one more time this year.
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
