Stock futures edge higher before Biden’s inauguration

The stock market in Asia and Europe trade higher today anticipating Biden’s inauguration today. Trades and investors are awaiting the president-elect new policies, especially on possible new stimulus. If more stimulus is announced then the stock market will continue moving upward. However, a bearish sentiment might surface too as the president expected to announce progressive taxes.

Asian & European Stock market

The Asian stock market moving upward today. Japan stock market down 110.20 points (-0.38%) to 28,523.26, China stock market up 16.71 points (+0.47%) to 3,583.09 and Australia ASX 200 up 27.80 points (+0.41%) to 6,770.40. The European stock market also moves higher. DAX Germany up 0.53%, UK FTSE down 0.04%, and Euro Stoxx600 up 0.51%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA hanging near the all-time high before Biden’s inauguration. The market might proceed with caution as new policies will be enacted. Technically, we expect a bearish correction to happen but it is possible the index will extend its upward movement too without correction.

It is time to wait and see for now.

Mastercard Incorporated (MA)

MA share prices traded lower and getting near the daily SMA 200. There is a support area around $315.00 – $320.00 to watch. If the share prices could halt the bearish pressure and reverse it then MA set to bounce and target the $350.00 – $360.00 area again.