Stock market await U.S job data
The global stock market is slightly lower as traders and investors awaiting the release of U.S job data. Lower than expected number will increase the odds that the Fed will cut interest-rate this month. It is also a bullish indication for the stock market.
A higher number is out of expectation but it seems the market has priced in a rate-cut nevertheless what number comes out today. It is better to stay sideline and observe the release of the data today.
Asian & European Stock market
Asian stock market is mostly unchanged today. Japan’s Nikkei up 43.93 points (+0.20%) to 21,746.38, China stock market up 5.81 (+0.19%) to 3,011.06, and Australia ASX 200 up 33.30 points (+0.50%) to 6,751.30. European stock market traded lower before U.S job data. DAX Germany down 0.32%, UK FTSE down 0.23%, Euro STOXX600 down 0.45%.
Dow Jones Industrial Average (INDU)
DJIA printed all-time high in Wednesday trading session and ready to challenge 27,000 resistance. Today, the index might open near the resistance level and waiting for reaction toward U.S job data result. reaction. It is possible that the index will move higher but reverse and closed below 27,000 at the end of the day.
Conagra Brands (CAG)
CAG share prices traded inside a triangle pattern. Recently it gapped down from the daily SMA 200 and found support at the bottom of the triangle. At the current time, we have an ample bullish pressure which will test the daily SMA 200 soon. We expect CAG to continue range inside the triangle pattern for now.