Dow futures little change before major names earnings
Dow Jones Industrial Averages futures pointed upward 30 points before market open. The market is waiting for AT&T (NYSE: T), Boeing (NYSE: BA), Caterpillar (NYSE: CAT) and Biogen (NASDAQ: BIIB) earnings result before market open.
Facebook (NASDAQ: FB), Microsoft (NASDAQ: MSFT), Paypal (NASDAQ: PYPL), Tesla (NASDAQ: TSLA) and Visa (NYSE: V) are among companies which report earnings after market close.
Asian & European Stock market
Asian stock market continues mixed today. Japan stock market down 59.74 points (-0.27%) to 22,200.00, China Shanghai Composite up 3.02 points (+0.09%) to 3,201.61, and Australia ASX 200 up 62.70 points (+0.99%) to 6,382.10. European stock market also mixed. DAX Germany up 0.89%, UK FTSE down 0.26%, Euro STOXX600 up 0.20%.
Technical Analysis
Dow Jones Industrial Average (INDU)
Latest series of better than expected earnings result brought the index further higher. In the previous day, the index climbed and getting near to reach the all-time high. At this rate, traders might want to wait until the index reaches an all-time high or 27,000 resistance to gauge the bull strength.
Bed Bath & Beyond (BBBY)
BBY share prices jumped above the daily SMA 200 and continue further higher to close the gap on the daily chart. It declined after the test and currently traded near the daily SMA 50 & 200. There is little room downside toward the trendline and SMA 200 where traders could look for long positions.
Placing long positions near SMA 50 & 200 might be a good idea to ride BBY higher.
Lockheed Martin (LMT)
LMT jumped in the previous trading day after the company reported strong earnings result. The upward movement brought the share prices to its bearish trendline. Normally, the share prices might get rejected and start correction to test the nearest support. Currently, the nearest support is trendline and SMA 200.
Traders suggested waiting until the bearish pattern formed before placing any short positions. When LMT move down to test trendline and SMA 200, traders could look for long positions.