U.S stock futures lower after interest-rate uncertainties rising

Last week, the Fed Jerome Powell said that the Fed needs more evidence before cutting interest rates. The comment sparked from the stronger-than-expected U.S. job data which put doubt on next month’s rate cut. It seems the interest rate might stay at a steady level for now while traders and investors await more data releases. At the current time, the U.S. stock futures are slightly lower which hints at a weak opening.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index has not shown any weakness with a new higher high printed on the chart. The index could continue the bullish trend and continue printing new higher high. When the index start a new bearish correction, traders could wait near support level for bullish reactions. As long as the trend is bullish, it is better to wait for bearish pullback to enter more long positions in stocks.

Under Armour (UA)

UA share prices have broken above the cluster of averages and it’s making a pullback toward it. At the current time, a test on the cluster of averages is ongoing and traders will expect a bounce from it. Traders could accumulate long positions with a stop below the latest swing low. When the share prices manage to print a new higher high, it is a signal for bullish continuation.