Stock futures gaining ahead of CPI data

The release of CPI data today will give clue on what will happen next on the interest-rate ground. If the inflation number continues to cool then it will give pressure to the Fed to stop the rising interest rate. The odds are favoring a lower number today, but traders will wait for the actual release and actual reactions toward the data before deciding to enter major positions. At the current time, DJIA futures are higher by more than 100 points.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index was mostly higher yesterday, it seems no bearish indication as the index is set to continue the bullish movement to print a new higher high. On the lower side, the daily SMA 200 provides a support level and no breakout below it. As long as the index starts printing a new higher high and higher low, there is no reason to turn bearish.

Walmart Inc (WMT)

WMT share prices look back on the bullish track. The share prices recently made a bearish movement and bounced from the cluster of averages. Traders will assume that the bullish trend will continue and each bearish correction is a chance for traders to enter long positions. If the U.S. inflation number continues to cool then it will benefit WMT. Traders will observe the release of today’s data to get clues on the next direction.