Rate-cut prospect, trade talk development to influence the market
The prospect of rate-cut becoming more certain after The Fed Jerome Powell sounded dovish in the latest meeting. However, trade talks between U.S-China might come under threat after President Trump tweet that China is not living up to the promise it made on buying agriculture products from Amerika.
Asian & European Stock market
Asian stock market mostly higher. Japan’s Nikkei up 42.37 points (+0.20%) to 21,685.90, China stock market up 12.79 (+0.44%) to 2,930.55, and Australia ASX 200 down 19.60 points (+0.29%) to 6,696.50. European stock is slightly higher. DAX Germany up 0.01%, UK FTSE up 0.36%, Euro STOXX600 up 0.20%.
Dow Jones Industrial Average (INDU)
A fresh all-time high printed on DJIA chart. The index has surpassed 27.000 for the first time yesterday and it is better for traders to continue long in the equity market. If the index turns lower then 27.000 will act as a support level.
Flowserve Corp (FLS)
FLS share prices moving between two trendlines and currently experiencing a bearish correction. The share prices expected to move lower and test daily SMA 50 and the bottom trendline. Long positions near the SMA 50 or the bottom trendline might be the best options traders could take.