The stock market rise on Jerome Powell remark
The stock futures currently trading upward after reassurance from the Fed Jerome Powell that the Fed still a ways off from altering its loose policies. The remark calmed the market after previous hot inflation data. The CPI increased to 0.9% compared to the 0.5% expectation.
Traders and investors will shift focus to earnings results while waiting for further information on the Fed’s stance toward inflation.
Asian & European Stock market
The Asian stock market mostly lower. Japan Stock market down 109.75 points (-0.38%) to 28,608.49, China stock market down 38.02 points (-1.07%) to 3,528.50 and Australia ASX 200 up 22.60 points (+0.31%) to 7,354.70. The European stock market slightly lower. DAX Germany up 0.04%, UK FTSE down 0.35%, Euro STOXX 600 down 0.10%
Dow Jones Industrial Average (INDU)
DJIA index futures are pointing upward 80 points at the current time, indicating a higher opening level for the DJIA index. The index seems will print a new record high anytime soon. Base on the situation, traders might want to continue avoiding short positions at least until a lower high is printed on the chart.
Box Inc Com (BOX)
BOX share prices are at an interesting level to watch. The share prices make a bearish correction and reach the daily SMA 50. There is a horizontal level where the previous gap broken to the upside. If the share prices could maintain the level and bounce from it then traders will expect a bullish continuation.