U.S stock futures up more than 100 points on trade talk hope

The trade war between the U.S and China intensified at the end of the previous week. China slapped a tariff on U.S imported goods and plan further tariff. President Trump tweeted that the U.S does not need China and order U.S company to find China alternatives. Aside from the tweet, Trump also moves up the planned September tariff from 25% to 30%.

However, today we have mixed signal as President Trump mentioned U.S and China ready to get back to the table to do trade talk. The G7 meeting is under focus today after President Trump mentioned the group needs to readmit Russia to the group.

Asian & European Stock market

Asian stock market is stride lower after trade war intensified. Japan’s stock market down 449.87 (-2.17%) to 20,261.04, China stock market down 33.86 (-1.17%) to 2,863.57, and Australia ASX 200 down 83.00 points (-1.27%) to 6,440.10. European stock market return to the positive area after the signal of trade talk resumption. DAX Germany up 0.44%, UK FTSE down 0.47%, Euro STOXX600 up 0.03%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA tumbled in Friday trading session and closed near the daily SMA 200. The index is under a situation where it needs to bounce from the averages. Otherwise, the index might continue its bearish pressure and target the bottom of the channel after the SMA 200 breakout.

Analog devises Inc (ADI)

ADI overall medium-term trend is bearish. The share prices continue lower after the rejection from daily SMA 50 & 100. At the current time, ADI located near SMA 200 and the trendline. Will it bounce and continue the long-term uptrend?