U.S stock market ready for higher open

After taking a breather in the previous trading day, U.S stock market ready for a positive open under light economy data day. Traders will watch news from company reporting earnings and corporate action.

Alibaba (NASDAQ: BABA) gained in pre-market after the founder, Jack Ma, said he would consider listing in Hong Kong. Target Corp (NYSE: TGT) jumped 3.8% in pre-market after the company raised profit guidance. TGT expected quarterly earnings per share of $1.30 – $1.40 this year, increased from $1.05 – $1.25.

Asian & European Stock market

Asian stock market extends its bullish gains today. Nikkei up 135.46 points (+0.57%) to 23,849.99, Shang Hai Composite up 5.35 points (+0.16%) to 3,414.83 and Australia ASX 200 up 5.40 points (+0.09%) to 6,135.80. European stock market also soars today. DAX Germany up 0.34%, FTSE UK up 0.44%, and Euro STOXX 600 up 0.44%.

Technical Analysis

Dow Jones Industrial Average (INDU)

There is no change to the DJIA track which is up. Dow Jones Industrial Averages index futures pointed up more than 50 points before market open and indicate a bullish day. If there is no major change to the fundamental, we might see DJIA reach 26,000 in the first-half of 2018.

MGM Resorts International (MGM)

MGM share prices are a notable stock to watch as the share prices building upon a bullish ascending triangle pattern. The high around $34.30 – $34.50 is being challenged several times. It is only a matter of time for the bull to push the price higher. Traders could look for long position near the trendline or daily SMA 100 & 200.

Zynga Inc  (ZNGA)

The trend apparently up on ZNGA daily chart. The share prices are riding higher inside the bullish channel. Traders could continue place long position near the bottom of the channel.