Stock futures lower, indicating a bearish start for the stock market

DJIA futures currently lower 138 points and indicate a lower opening. It seems the market mostly cautious about inflation. Last week, the consumer price index increased 4.2% you which triggering a sell-off in the stock market. The data told the market that the Fed might start tapering soon to control the inflation.

This week, traders will observe the release of the FOMC minutes of the meeting. We might see a major movement again base on the inflation outlook in the minutes of the meeting.

Asian & European Stock market

The Asian stock market traded mixed. Japan Stock market down 259.64 points (-0.92%) to 27,824.83, China stock market up 27.24 points (+0.78%) to 3,517.62 and Australia ASX 200 up 9.40 points (+0.13%) to 7,023.60. The European stock market mostly lower. DAX Germany down 0.36%, UK FTSE down 0.67%, and Euro STOXX600 down 0.46%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index was under pressure last week after a record high of around 35,000. The bearish pressure brought the index down toward the daily SMA 50. No-touch on the averages but we might have a bounce reaction near it. If the index could print another bullish close today then it is set to continue moving upward to print a new record high.

Hasbro Inc (HAS)

HAS share prices mostly sideline and supported at the daily SMA 50. However, there was bearish pressure last week which printed a close below the averages. Fortunately, the share prices could stage a recovery and closed above the daily SMA 50 at the end of the week.

We might see the share prices continue its bullish movement from the current level. However, if the share prices continue its bearish movement toward the daily SMA 200 or the bottom of the channel then traders could use the level to enter long positions.