U.S stock futures flat before the end of first-half of yearly trading

The stock market is set to close the first-half trading of the year on the bullish side. It seems the market stays optimistic despite the pressure on the economy caused by covid-19. The recent news shows economic recovery is in progress, traders and investors seem to shrug off the inflation threat.

If the economic recovery continues in the second half then we will expect the stock market to continue its upward movement. However, traders will observe whether inflation will come under control or rising wildly out of control in the second half.

Asian & European Stock market

The Asian stock market mixed. Japan Stock market down 21.08 points (-0.07%) to 28,791.53, China stock market up 18.02 points (+0.50%) to 3,591.20 and Australia ASX 200 up 11.80 points (+0.16%) to 7,313.00. The European stock market on the pullback path. DAX Germany down 0.99%, UK FTSE down 0.54%, and Euro STOXX600 down 0.63%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index trading near the daily SMA 50 and seems will continue consolidation near the level until the end of the week. At the current time, DJIA futures are lower 30 points which indicates a slight bearish opening. If the index could continue to maintain the level near the averages then there is a chance for bullish continuation.

Jetblue Airways Corporation (JBLU)

JBLU share prices have been correction lower from $21.96 high and soon will reach the daily SMA 200. We might see some reaction from the level where traders could plan for long positions. Traders will wait for a bullish reaction before jump into long positions.