Risk-averse to take on the market before U.S-EU meeting

The stock market ready for a bearish open today as attention focused on President Trump – Jean Claude Juncker meeting. Before the meeting, EU spokesperson said the union prepares counter tariff up to $20 billion value against U.S goods. The tariff prepared against the global import of machinery, agriculture and technology products.

Notable Earnings & Corporate reports

Boeing (NYSE: BA) dragged U.S futures down even though the company reported better than expected earnings per share and revenue. The company reported eps of $3.33 vs. $3.25 expectation. Revenue comes out at $24.26 billion vs. $24.04 billion. Despite the rising revenue, BA major business segment, the Commercial Airplanes revenue missed analysts expectation. The Commercial Airplane revenue comes out at $14.48 billion vs. $14.86 billion.

Coca-Cola (NYSE: KO) beat estimates. The company reported earnings per share of $0.61 on $8.9 billion revenue. Analysts expect the company report earnings per share of $0.60 on $8.54 billion revenue. Share prices up more than 0.7% in pre-market trading.

General Motors (NYSE: GM), United Parcel Service (NYSE: UPS) set to report earnings before the market open.

Facebook (NASDAQ: FB), Ford (NYSE: F), Visa (NASDAQ: V), Las Vegas Sands (NYSE: LVS) are among companies which will report earnings after market close.

Asian & European Stock market

Asian stock closed mixed. Nikkei closed up 103.77 points (+0.46%) to 22,614.25, Shang Hai Composite closed down 1.19 points (-0.04%) to 2,904.37 and Australia ASX 200 down 18.20 points (-0.29%) to 6,247.60. European stock market pulled back before the U.S-EU meeting. DAX Germany down 0.64%, FTSE UK down 0.83%, and Euro STOXX 600 down 0.28%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA climb above the trendline and attempting to widen the distance from breakout point. Corporate reports continue strong and could support the occasion. However, the index ready to open lower today on the key meeting between President Trump and Jean Claude Juncker. If the index falls inside the triangle pattern, then it will trigger ranging movement inside the triangle.

United Parcel Service (UPS)

UPS upward movement will encounter the daily SMA 200 soon. There is bearish trendline resistance present near the averages too. When the share prices hit both resistances, it is expected to bounce lower and resume its bearish trend.

Nu Skin Enterprises (NUS)

NUS drifted lower since reached three years high at $84.00. The share prices downward movement is stable and hard to reverse by the bull. Currently, NUS testing daily SMA 200 and both breakout or bounce possible. Will the share prices continue its bearish trend by breaking lower?