U.S stock market set to slide
The stock market look ready to slide on Monday dragged by Boeing. The company set to cut its monthly production of 737 series by 20%, expecting authorities will not lift the ban on the airplane after two deadly crashes. Traders and investors see the decision taken by Boeing is the right thing to do.
Pinterest IPO may become headline this week. The company set a range between $15.00 – $17.00 for an upcoming initial public offering.
Well’s Fargo (NYSE: WFC) urged by Warren Buffet to choose their next CEO outside of Wallstreet. Buffet is one of the major shareholders in the company.
Asian & European Stock market
Asian stock market mixed today. Japan stock market down 45.85 points (-0.21%) to 21,761.65, China Shanghai Composite down 1.76 points (-0.05%) to 3,244.81, and Australia ASX 200 up 40.10 points (+0.65%) to 6,221.40. European stock market also mixed. DAX Germany down 0.21%, UK FTSE up 0.11%, Euro STOXX600 up 0.02%.
Dow Jones Industrial Average (INDU)
The situation of DJIA mostly positive as it continues to climb above 26,000. The index expected to reach 26,951.81 all-time high in coming weeks or months. Traders could continue holding the bullish bias and look for long positions in equity when DJIA retest 26,000.
Tripadvisor Inc (TRIP)
TRIP is in trouble as the share prices fell below the daily SMA 200. It found support at $50.00 round number and manage to bounce from it. But, the share prices show a bearish reaction before it could reach the SMA 50. If the bearish candlestick follows through by the bear then TRIP might make another test on $50.00. On the other hand, if the share prices could return above SMA 200 then it will turn bullish and challenge $60.00.