Gilead Remdesivir, Alphabet earnings to boost the market

The market return to positive sentiment after The National Institute of Allergy and Infectious Diseases said a study of remdesivir drug has reach its primary endpoint. If a cure has been found to fight coronavirus then we see the start of bullish reversal in the stock market.

Today, the market will observe FOMC interest-rate decision.

Asian & European Stock market

The Asian stock market mostly higher today. Japan’s stock market closed, China stock market up 12.42 (+0.44%) to 2,822.44 and Australia ASX 200 up 80.30 points (+1.51%) to 5,393.40. The European stock market also continue higher. DAX Germany up 0.38%, FTSE UK up 0.94%, Euro STOXX 600 up 0.04%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA attacking the resistance level and has surpassed the daily SMA 50. The index might continue moving upward and target the daily SMA 100 also the SMA 200. No close above the 24,250 resistance level at the current time. We might see reaction in the today trading session as The Fed will set interest-rate and give guidance on the future interest-rate.

Texas Instruments Inc (TXN)

TXN share prices on the path upward in a bullish correction. The share prices recently tested the daily SMA 100 and the level around $120.00. We think if bearish movement happen then traders will observe the level around $110.00. On the upside, there is daily SMA 200 to watch if TXN making further bullish movement.