Easing of social distancing and U.S-China tension to become the market focus

The reopening of the economy as coronavirus new cases slowed is the main focus of traders and investors. All people will observe how the economy returns to its normal state. It is positive news but U.S-China tension appeared to increase these past few days.

It might be the time to stay sideline as Warren Buffet does for now. The renowned investor suffered losses in airline stocks and currently keep sideline with massive cash at hand.

Asian & European Stock market

The Asian stock market traded higher today. Japan and China stock market closed for holidays, and Australia ASX 200 up 87.30 points (+1.64%) to 5,407.10. The European stock on the path higher. DAX Germany up 0.97%, FTSE UK up 1.10%, Euro STOXX 600 up 1.13%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA supported by the daily SMA 50 and formed a bullish close yesterday. The index might trade higher today as DJIA futures pointed upward more than 300 points. No clue on the long-term direction yet, the index might continue its bullish correction but might start another bearish leg when coronavirus second wave strike.

Sony Corp (SNE)

SNE share prices consolidate between SMA 100 and 200 at the current time. The share prices might continue moving between both averages with a bearish bias for now. As long as SNE could maintain the position above SMA 200, there is a chance for the share prices to start a new bullish leg.