Job data on the watch as DJIA futures down 200 points

This week jobless claims record surge of numbers of people who claim for unemployment benefits. There were 6.65 million people who filed for the benefits. Today, traders and investors will wait for the release of Non-farm employment data.

U.S Non-Farm Employment Change, forecast -100k, while unemployment expected to increase 0.3% to 3.8%

Asian & European Stock market

The Asian stock market mixed today. Japan’s stock market up 1.47 points (+0.01%) to 17,820.19, China stock market down 16.65 points (-0.60%) to 2,763.99 and Australia ASX 200 down 86.80 points (-1.68%) to 5,067.50. The European stock market trade lower. DAX Germany down 0.38%, UK FTSE down 1.10%, Euro STOXX600 down 0.70%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA choppy movement expected to continue for medium-term, the index might hold out near the support level. However, the situation of coronavirus might worsen in the next two weeks. Traders might expect further weakness in the index until there is an improvement in the situation.

Similar to the previous day analysis, 21,201 – 22,558 is the area to watch.

FedEx Corp (FDX)

A bounce from the monthly SMA 200 or further weakness below the averages? We think the latter will happen and traders might want delay taking long positions for now. Wait until the monthly candlestick shows bullish sign. $85.52 – $100.00 will become the level to watch.