U.S stock futures pointed upward despite the uptick in CPI data
The U.S stock market set to open the day on a positive tone after CPI data recorded an increase of 0.6% and core CPI increased 0.7%. Both numbers are higher than expected but softer than the previous month’s increase. Traders and investors seem to place the result as acceptable and bet that the Fed will not change policies in the coming FOMC meeting.
Asian & European Stock market
The Asian stock market mostly higher. Japan Stock market up 97.76 points (+0.34%) to 28,958.56, China stock market up 19.46 points (+0.54%) to 3,610.86 and Australia ASX 200 up 32.30 points (+0.44%) to 7,302.50. The European stock market also mixed. DAX Germany up 0.11%, UK FTSE up 0.33%, and Euro STOXX600 flat near 0 level
Dow Jones Industrial Average (INDU)
DJIA index futures traded upward 157 points at the current time, suggesting a strong opening. It seems the inflation data has been released and falls under the acceptable range. The index might continue its upward movement and target a new record high. Next week, traders will observe the FOMC interest-rate decision to further determine the index direction for the medium-long term.
Johnson & Johnson Com (JNJ)
JNJ share prices always could bounce from the daily SMA 100 in the previous downward movement. It is currently trading near the averages and also the trendline. Traders could assume the share prices will continue its bullish movement and bounce from the averages. On the upside, the $170.00 resistance level will become the level to watch.