Global Markets plummet in Tuesday’s trade and the U.S. Dollar declined robustly after North Korea conducted the sixth nuclear test. Markus Heitkoetter, the CEO and founder of Rockwell Trading, always see the volatility in the stock market as a trading opportunity for day traders. After the long weekend, the dip in the major U.S. markets was higher than expectations.
The S&P 500 plummeted 18.7 points to 2,457.85, the Dow Jones Industrial Average fell 234.25 points to 21,753.31, and the Nasdaq Composite slump 59.76 points to 6,375.57.
The huge volatility in the U.S. markets has created several buying opportunities for day traders, as the markets slumped only due to the North Korean factor, which seems to have a short-term impact.
The dollar index chopped down 0.35% while the Japanese yen soared 0.84% against the USD at 108.83 per dollar, thanks to traders concerns over the interest rates. Lael Brainard, Federal Reserve Governor, has said inflation was lower than their target, which could have a negative impact on central bank’s interest rate policy.
European markets also ended the day with losses, as investors moved their focus towards safe haven assets, including bonds and the yen.
Gold and other the traditional safe haven assets climbed sharply during Tuesday’s trade. Gold surged 0.4% to $1,339.11, the highest level in the last year.
On the other hand, U.S. oil prices rose sharply, amid increasing demand from U.S. gasoline refineries. Refineries in the Texas are resuming their operations which had been shut by Hurricane Harvey, resulting in increasing demand for crude oil.
Markus had already predicted that trend last week and had suggested that oil could go higher once the water goes down. Overall, the volatility in the market has created several attractive investment opportunities for day traders, as the impact of North Korean jitters seems to be short-term in nature and effects of the hurricane are also dwindling. Get these insights on the market live at rockwelltrading.com/prcoffee.
SOURCE: Press Advantage [Link]
Markus Heitkoetter founded Rockwell Trading in January 2005 with ONE goal in mind: To simplify trading and help day traders achieve their goals. Since then we have helped over 340,000 traders from more than 38 countries. Visit us at rockwelltrading.com
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