U.S stock futures rise ahead of central banks meeting

The Omicron variant has been bearish news for the market. Aside from that, inflation numbers also ticking up moderately to 6.8%, the highest level since 1982. Despite the situation, it seems the market shrugging off the news and start building upward pressure on the stock market.

This week, traders and investors will focus on the Fed FOMC meeting which is expected to announce an acceleration of tapering to combat inflation.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index keeps building more bullish close on the daily chart, shrugging of fundamental data which show high inflation reading last week. The index is set to continue the bullish movement and target a new record high. Traders will proceed cautiously ahead of the Fed FOMC meeting. The market might trade higher before the news but start a sell-off after the news announcement.

The Travellers Company (TRV)

TRV share prices broke below the bullish trendline also the daily SMA 200. At the current time, the share prices made a bullish correction and have reached breakout points. We might see bearish rejection from the broken level and TRV could continue the bearish trend. On the other hand, the share prices might continue to stick near the trendline, trading upward.