Fed concern on the U.S economy to weigh the market

DJIA futures lower 81 points before the market open. The bearish sentiment on the futures happens as Fed minutes of meeting mentioned concern on the U.S economy. The Fed is concerned about the current pandemic which weighs heavily on economic activities, employment, and inflation.

The global stock market mostly retreats on the bearish sentiment. However, U.S-China imminent trade talk helps to alleviate the bearish sentiment today. Today, the market will focus on the unemployment claims data which is expected to come out at 930k.

Asian & European Stock market

The Asian stock continues mostly lower today. Japan stock market down 229.99 points (-1.00%) to 23,110.61, China stock market down 44.23 points (-1.30%) to 3,363.90 and Australia ASX 200 down 47.60 points (-0.77%) to 6,120.00. The European stock market also lower. DAX Germany down 1.08%, FTSE UK down 1.30%, Euro STOXX 600 down 0.89%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA is slightly lower but not far from the consolidation range. More consolidation is expected to happen as traders and investors waiting for the coronavirus stimulus bills. However, the Fed’s concern on the U.S economy might put pressure on the DJIA index. If the index moves lower then 27,000 will become the level to watch.

Berkshire Hathaway Inc (BRK/B)

BRK share prices seem in a bearish correction toward the daily SMA 200. Traders could observe the level of around $200.00 and the daily SMA 200 for the chance to enter long positions.