U.S stock futures optimistic before the Fed minutes

The stock market futures gains before the market open, DJIA pointed upward more than 100 points and suggest higher opening. Target (NYSE: TGT) and Lowe’s (NYSE: LOW) woe the market by reporting strong quarterly result. TGT up 13.9% and LOW up more than 10% before the opening bell.

Today, the market will focus on FOMC minutes of meeting to get hint on the Fed future policy. Later on Friday, Jerome Powell will give speech and further confirm the Fed policy in the future.

Asian & European Stock market

Asian stock market mostly lower. Japan’s stock market down 58.65 (-0.28%) to 20,618.57, China stock market up 0.33 (+0.01%) to 2,880.33, and Australia ASX 200 down 61.70 points (-0.94%) to 6,483.30. European stock market gained before the Fed minutes. DAX Germany up 1.18%, UK FTSE up 1.07%, Euro STOXX600 up 1.13%

Technical Analysis

Dow Jones Industrial Average (INDU)

No clear direction for DJIA yet, the index traded at 26,000 handles and still searching for direction. At the current time, DJIA futures pointed upward more than 100 points. It is possible the index will bounce from the 26,000 handles and continue upward today.

Omnicom Group (OMC)

OMC next direction will depend on the share prices reaction at the daily SMA 200 and the trendline. At the current time, the share prices supported by both support levels but no upside progress. The triangle pattern breakout will confirm OMC next trend.

William-Sonoma Inc (WSM)

WSM surpassed the resistance around $65.75 in the previous rally and start bearish correction after the share prices hit $70.00 handle. The bearish correction lead WSM down and trade inside $62.50 – $65.75 range. If the bull could seize the control and bring the price above $65.75 then we might see another bullish attempt toward $70.00

However, a close below $62.50 might trigger further selling toward the SMA 200.