Weak data, earnings miss weighing on the market

U.S stock futures mostly lower after the previous day weak annualized GDP data. Aside from the weak result, Amazon yesterday reported its first quarterly revenue miss since three years ago. The company also provided weak guidance which leads the stock prices to lower by 7.4%.

The stock market might continue trading weak today but is set to close the month higher.

Asian & European Stock market

The Asian stock market is mostly lower. Japan Stock market down 498.83 points (-1.80%) to 27,283.59, China stock market down 14.37 points (-0.42%) to 3,397.36 and Australia ASX 200 down 24.80 points (-0.33%) to 7,392.60. The European stock market is also on the bearish path. DAX Germany down 0.98%, UK FTSE down 0.92%, Euro STOXX 600 down 0.64%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index printed another record high though not really far from the previous record high. It seems the index will start a bearish movement today as the DJIA futures lower more than 100 points. Nevertheless, the index set to notch gain after a bearish correction in the middle of July.

Traders will expect the index to continue its upward attempt and print a new record high.

Cigna Corporation (CI)

CI share prices are at an interesting level near the confluence of supports. There are trendline, horizontal support line, and the daily SMA 200. If the share prices could bounce from the support levels then traders will expect a start of the new bullish trend.