DJIA futures moving up as Brexit deal and stimulus talk continue

The prospect of a Brexit-deal is questionable as the deadline is set on Sunday. No-deal so far and the Brexit talk will continue. Under the current situation, traders and investors seem to play safe cards by staying sideline. U.S stimulus talks also in progress as the Covid-19 situation in the U.S worsens.

At the current time, DJIA futures higher 44 points which might indicate a flat opening. It is better to continue waiting and observing the situation on the weekend.

Asian & European Stock market

The Asian stock market continues lower today on Brexit deal pessimism. Japan stock market down 61.70 points (-0.23%) to 26,756.24, China stock market up 1.31 points (+0.04%) to 3,373.28 and Australia ASX 200 down 45.40 points (-0.67%) to 6,683.10. The European stock market cautiously bullish. DAX Germany up 0.10%, UK FTSE up 0.74%, and Euro Stoxx600 up 0.09%.

Technical Analysis

Dow Jones Industrial Average (INDU)

The consolidation of the DJIA index near 30,000 seems will continue for now. No major bearish scenario is expected for now as the year 2020 nearing its end. We think the index will continue to maintain its level and mostly flat at 30,000 near the end of the year.

Best Buy Co Inc (BBY)

BBY share prices are in a bearish correction phase. The share prices printed a lower low and might continue moving lower to target the daily SMA 200 also the horizontal support level around $92.00. Traders could use the $95.00 level as the initial level to look for a bullish reaction before placing long positions.

Note, $100.00 psychological level might limit downside in the share prices.