Strong round of earnings boost the market

U.S stock market ready to open higher today as ECB leave the rate unchanged and strong earnings reported by the blue-chip company. ECB Mario Draghi said they continue to expect interest rates to remain at their present levels for an extended period of time, and well past the horizon of net asset purchases.

Digesting the commentary, it is a dovish comment, but the market reacted positively on Euro. The pair gained almost 100 pips against U.S dollar and reached 1.2500 for the first time since 2014.

Corporate report

Caterpillar (NYSE: CAT) reported earnings per share of $2.16 vs. $1.77 consensus. Revenue comes out at $12.9 billion vs. $11.8 billion expectation.

INTC, SBUX scheduled to report earnings after market close.

Asian & European Stock market

Asian stock market closed lower today. Nikkei down 271.29 points (-1.13%) to 23,669.49, Shang Hai Composite down 11.16 points (-0.31%) to 3,548.30 and Australia ASX 200 down 4.70 points (-0.08%) to 6,050.00. European stock on the other hand move upside. DAX Germany up 0.08%, FTSE UK up 0.19%, and Euro STOXX 600 up 0.14%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA ready to open higher today as the index futures pointed up more than 100 points before market open. There is no change to the index situation, and it is aiming for next milestone at 27,000.

Starbucks Corp (SBUX)

SBUX is building the floor up little by little, the share prices continuously attain a new higher level and using the broken resistance as support. Currently, the share prices might fall to test level around $59.50 – $60.00 where traders could place long position.

Note: Earnings report after market close.

ExxonMobil (XOM)

XOM on the daily chart is bullish and could continue further upside following the appreciation of oil prices. The upward movement of XOM share prices will test the channel resistance shown on its weekly chart. There is no bearish reaction yet; traders might want to wait until breakout or rejection happen.