The hope of faster recovery falter in Europe
Volatility in the stock market will remain as coronavirus continue spreading in Europe and around the world. Initially, the market believed that the coronavirus spread has peaked in Europe. But, the jump in Germany’s positive cases brought doubt in the market.
At the current time, DJIA futures up more than 100 points. U.S stock market might open higher but may come under pressure again.
Asian & European Stock market
The Asian stock market mixed today. Japan’s stock market up 403.06 points (+2.13%) to 19,353.24, China stock market down 5.39 (-0.19%) to 2,815.37 and Australia ASX 200 down 45.40 points (-0.86%) to 5,206.90. The European stock market also on the path lower. DAX Germany down 0.73%, UK FTSE down 1.25%, Euro STOXX600 down 0.95%
Dow Jones Industrial Average (INDU)
DJIA index jumped in the previous trading day at the beginning of the trading session. However, the index move lower gradually and closed near Monday closing level. It means the situation is neutral to bearish. Today, the index futures higher 100 points, indicating higher opening level. If the index could continue its upward movement then it might target 24,237 – 25,000
Fox Corp (FOX)
FOX share prices fell below the monthly SMA 200 last month. This month, there is bullish attempt and currently the share prices trade near the monthly SMA 200. FOX share prices direction will depend on the global market development. If the situation worsen then FOX might target $10.00