Stock futures lower before jobless data
The current movement of the U.S stock market continues to be cautious as the major indices trading near the all-time high. Traders will expect the situation to continue cautiously before the announcement of a stimulus decision. Today, the market will observe jobless claims data. Analysts expect 773k new claims.
At the current time, DJIA futures is lower 30 points. On the corporate ground, Walmart (WMT) set to report earnings result before the market open.
Asian & European Stock market
The Asian stock market mixed today. Japan stock market down 56.10 points (-0.19%) to 30,236.09, China stock up 20.27 points (+0.55%) to 3,675.36 and Australia ASX 200 up 0.70 points (+0.01%) to 6,885.90 . The European stock market slightly higher. DAX Germany up 0.31%, UK FTSE up 0.02%, and Euro Stoxx600 up 0.20%.
Dow Jones Industrial Average (INDU)
DJIA’s situation continues to be bullish but without strong momentum. The index printed a new all-time high and expected to continue trading near the current level. Same as yesterday, traders will wait for a bearish pullback in the index for a chance to enter long positions in the equity market at a better level.
Cheesecake Factory (CAKE)
CAKE share prices are trading in a bullish trend and reach a new yearly $57.2 high. The share prices seem rejected from the $50.00 level but keep pressuring to the upside. At the current time, there is a bearish correction in progress. The share prices might enter the bullish channel shown on the chart and test the daily SMA 50. When a test on the support level happens, traders could consider entering long positions.