DJIA tilted downward before GDP data

Dow Jones Industrial Averages futures slightly lower 31 points before market open. Chevron (NYSE: CVX), American Airlines (NASDAQ: AAL) and Exxon Mobil (NYSE: XOM) set to report earnings before the market open. On the economic ground, U.S advance GDP will be released on 08.30 EST. Forecast saw Q1 GDP expand by 2.2%.

Asian & European Stock market

Asian stock market mostly lower today. Japan stock market down 48.85 points (-0.22%) to 22,258.73, China Shanghai Composite down 37.43 points (-1.20%) to 3,086.40, and Australia ASX 200 up 3.50 points (+0.05%) to 6,385.60. European stock market pointed upward. DAX Germany up 0.19%, UK FTSE down 0.24%, Euro STOXX600 up 0.06%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA closed lower in the previous trading day but maintain the bullish trend above 26,000. Today, the market will wait for advance GDP data before determining the next direction. We think the situation will continue bullish as major names releasing earnings results. If DJIA manages to reach 26,000 then traders could look for long positions in equity.

Hess Corporation (HES)

HES Sloped down after two days bearish close. The share prices are in pullback mode and might continue downside until it reaches the SMA 200 or trendline. Traders could look for long positions when the share prices reach both support levels.

Jetblue Airways (JBLU)

JBLU crossed above daily SMA 200 and close above it. The share prices continue higher before it reaches the level around $18.50 and pullback to close below its opening level. JBLU might continue lower to test broken SMA 200. Traders could look for reaction near the averages and enter long positions when there is a bullish reaction.