U.S stock futures slightly higher before weekly wrapup

The stock market battered this week as the Fed announced they will start increasing interest-rate this March. No surprise in the announcement and traders will focus back on inflation numbers next. We might not see much movement in today’s trading session. However, the recent bearish sentiment might continue to mount as investors will flood to inflation-hedge instruments.

Asian & European Stock market

The Asian stock market is mostly higher. Japan Stock market up 300.25 points (+1.08%) to 28,089.54, China stock market up 15.79 points (+0.45%) to 3,543.94, and Australia ASX 200 up 30.40 points (+0.41%) to 7,534.90. The European stock market on the other hand trade lower after higher than expected inflation data. DAX Germany down 0.33%, UK FTSE down 0.53%, Euro STOXX 600 down 0.23%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index mostly bearish below the daily SMA 200 after the Fed interest-rate announcement. The bullish attempt seems will fail and the index might continue the bearish movement. Traders will continue to observe the index reaction near the daily SMA 200. The longer the time DJIA stays below SMA 200, the higher the risk of bearish continuation.

Accenture PLC (ACN)

ACN share prices trading lower after the $417.37 high. The share prices have reached the daily SMA 200 and currently stick near it. Will the share price bounce from the averages and start a new bullish leg? Alternatively, will it break out and continue the bearish trend? Traders will observe the share prices reaction from the averages for now.