[STOCK MARKET NEWS UPDATE] – Dow skyrockets 710 points

And we are live, again. This time with sound, so welcome to the stock market update. Today is Sunday January 20th. We’ll take a look at what
happened in the markets last week and also what to expect in the week ahead. And yes, one of these days I’ll
figure out the sound settings. I just did a whole market recap and of course there was no sound so
I’m doing it over here again. So what happened this week the Dow
rallied 710 points. So yes we had a good week. It’s actually the the fourth straight week that we’re up here in the market. So what is causing this rally right now? Well there’s there’s three factors
causing it. I mean first of all, we have theU.S. China trade-what-deal drama whatever is going on here. Right. So on Thursday there were some
news that maybe possibly that there will be an agreement, so good. The markets reacted positively to
this and really really rallied on Friday. What else was in focus this week. Well we had bank earnings and most banks reported earnings better than expected and of course that is good for the
stock market. Now the third thing that is going on right now is the government
shutdown. And right now it’s the longest
government shutdown ever it should have an
effect on the economy. But thus far it doesn’t seem this
way. The stock market is up 8 % since the government shutdown began. So let’s take a look at the charts and let’s see what happened here this week. So. Right now let’s go to the Dow Jones. Here you see the Dow Jones for this
week and you see on Monday not a whole lot going on there. Let me get rid of this. On Tuesday, the markets were up basically for the rest of the week. Markets up up and away. So on Thursday this where you see that we had the trade news
coming out. It was a bit conflicting because at first it seems that yes there will be a deal and then no there’s no
deal. But on Friday, the markets kept rallying. So on Friday the market’s up 330 points, 336 points for the Dow overall 710 points for this week. I know for the S&P 500 very similar picture on Friday the S&P was up 35 points. And overall for the week S&P posted a 2.9% gain, up 74 points. What about the Nasdaq here? Nasdaq also did really well overall up 2.7 points, a 2.7%, 186 one points for the week. Let’s take a look at crude oil. Crude oil also had a pretty good
week. So crude all finished higher for the
third week in a row and it’s now up 4.1% , in that as you can see 53.76. So what are some of the stocks that were in the news this week. Well the two main stocks that were in the news were Netflix and at first Netflix was the darling because it jumped up as you can see here. Because they said that they will raise subscription prices and of course traders thought that is good. Brings in more money more
profits right. So this is where Netflix jumped on Monday but then they reported earnings and earnings weren’t as good as
expected and that’s where you see on Friday
got hammered. Netflix down 4% on Friday. But overall is still up
for the week because after this heavy jump on Monday. Another stock that was in the news, well a stock that is probably always
in the news is Tesla. So Tesla said, Elon Musk actually announced that it
will slash. What was it 7% of the workforce. And as you can see on Friday Tesla was down 13 %. So investors don’t like that. So these are the highlights for the week. What To expect in the coming
week? Well first of all to morrow is Monday January 21st and the markets will be closed
tomorrow in observance of Martin Luther King Day. So that is tomorrow. Markets will be closed. So it will be a short week. Again there’s more earnings coming up
this week. This will be the focus. And then of course the other focus will be will be the U.S.-China trade war that we have going on there. Well, is it actually a war that we have going
on there or is it just a trade drama? It seems that every week there’s new
news, and China is a big economy. So of course the US market is affected by this. I in fact actually I saw that
Bloomberg was reporting, let me just find this here again. So a Bloomberg report said that in recent trade talks China offered a plan to boost the U.S. imports to
eliminate the trade imbalance by 2024. Who knows if these are rumors or if this is true? So This will be
definitely in the focus now is the government
shutdown. This is really a little bit
surprising for me. Longest government shutdown ever, but traders don’t seem to be worried
at all. While because eventually the government employees will be paid
right now they’re just not receiving paychecks but from what I heard they will be
paid in retrospect so as soon as somebody signs the paychecks again. Right. They will be mailed out. So therefore traders don’t seem to be worried about it too much. So anyhow a long weekend for traders. So enjoy your Sunday enjoy your Monday if you’re a full time
trader tomorrow. There’s not much for you to do because markets are closed tomorrow. If you still have a job and you’re not yet a full time trader maybe your job allows you to be off tomorrow if not have a fantastic week. And since the markets are
closed tomorrow I will be back on Tuesday to show you what the markets did on
Tuesday and what to expect for Wednesday. All right have a fantastic Sunday and I’ll talk to you soon.

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