Apple’s earnings to boost the market

Good news come from Apple’s earnings result. The company reported revenue of $91.8 billion vs. $88.4  billion expectation. EPS comes out at $4.99 vs. $4.55 estimation. Aside from the result beat, the company also sees $63 – $67 billion in revenue guidance vs. $62.45 billion expectation.

On the economic front, traders and investors are waiting for the Fed interest-rate decision today.

Asian & European Stock market

The Asian stock slightly higher today, escaping the coronavirus grip. Japan’s stock market up 163.69 points (+0.71%) to 23,379.40, China stock market closed and Australia ASX 200 up 37.00 points (+0.53%) to 7,031.50. The European stock market mostly higher today. DAX Germany up 0.16%, UK FTSE up 0.11%, Euro STOXX600 up 0.42%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA set to extend its bullish bounce from the daily SMA 50 and close the gap created at the beginning of the week. The index upward sentiment might be temporary and could anytime switch to bearish again. Traders and investors will focus on coronavirus update from China and the world. On the downside, DJIA might be able to reach the daily SMA 100 or around 27,500

Caterpillar Inc (CAT)

CAT share prices corrected from the $150.55 top and almost reach the daily SMA 200. If the share prices continue lower then traders could consider long positions near the SMA 200. There is a horizontal support level present too, overlapping the averages. A bounce from the averages might lead the share prices up to test the level around $140.00