U.S stock futures slipped after ADP data

The stock market futures was trading upward in early trading session. However, the gain vaporized after the release of U.S. ADP Non-farm employment data, which shed 33k job vs. expectation of 99k increase. It seems the market is set to give back its gain after the latest rally. Traders will focus again on the major miss on ADP data, which might signal weak NFP data tomorrow. Traders will use the current bearish turn in the market as a chance to add long positions at a lower level.

Dow Jones Industrial Average (INDU)

DJIA index moving upward and has not formed a bearish reaction. The index might continue the bullish movement to challenge previous record high. However, there is bad data release today which might lead to weak job data tomorrow. If the index started a bearish correction, then the 44,000 and 43,000 level are the levels to watch as bearish target.

Grab Holdings Limited (GRAB)

GRAB share prices looks trading inside a triangle pattern and supported by the daily SMA 200. We might see breakout soon from the triangle pattern and get confirmation on the next direction. Overall, we think the share prices will break out higher and continue the bullish movement. However, if the share prices turn lower, then traders will use the daily SMA 200 as a place to look for bounce reactions. If the share prices could maintain its position and form major bullish reactions, then traders could enter long positions.