Tuesday, January 30, 2018

Trading Wins A Sea Of Red - Market Update January 30th, 2018


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1) A second straight day of selling on Wall Street as stocks closed significantly lower on higher-than-average volume. The Dow Jones Industrial Average dropped 362.59 points, the S&P 500 fell 31.10 points the Nasdaq 100 closed lower by 6.02 points and the Russell 2000 finished lower by 15.39 points.

2) More selling in the bond market contributed to the pullback in stocks as bond yields continue to rise. TLT (20 Year Treasury Bond ETF) closed lower by $0.72. Gold futures dropped 4.90 points while crude oil futures fell 1.6% due mostly to a rise in the U.S. dollar.

3) It is going to be a very busy rest of the week for the equity markets with a lot of news to digest. This evening there's the President's State of the Union Address followed by the FOMC meeting announcement tomorrow afternoon and a slew of major earnings announcements on Thursday by the likes of Apple, Amazon and Google.



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