Stock futures slightly lower after another record high

Yesterday, the U.S stock market opened after the Easter holiday. The index secured a new record high as job data released at the end of the previous week show robust gain. We might see the index continue its upward movement as optimism continues to grow following the massive vaccination progress.

Aside from that, the market also will observe Joe Biden’s $2 trillion infrastructure proposals which will rise tax-rate for corporate.

Asian & European Stock market

The Asian stock market is mixed today. Japan stock market down 392.62 points (-1.30%) to 29,696.63, China stock market down 1.42 points (-0.04%) to 3,482.97 and Australia ASX 200 up 57.20 points (+0.84%) to 6,885.90. The European stock market advance higher. DAX Germany up 1.16%, UK FTSE up 1.27%, and Euro STOXX600 up 0.81%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed another all-time high and looks will continue its upward movement. Nothing much, traders could do aside from waiting for a bearish correction toward major levels. 33,000 will become a temporary support level for now and traders will continue to observe the current index movement.

FOX Corp (FOX)

FOX share prices corrected lower after the $42.14 high. The share prices have reached the daily SMA 50 also the horizontal support level. Traders could use the moment to enter long positions near the current level. If the share prices continue its bearish movement then the horizontal level around $32.00 and $30.00 will become the level to look for long positions.