U.S-China trade deal, job data under focus
U.S stock market set to open positive today as DJIA futures up more than 200 points. The upward movement happened as the market expects the worst of coronavirus has passed. U.S labor department will release job data which will become the worst ever. Economist expects 21.5 million jobs lost accompanied by 16% unemployment.
Meanwhile, the trade talks between the U.S and China are in progress. A positive results will help ease the current tension between the two countries.
Asian & European Stock market
The Asian stock market mostly higher today. Japan stock market up 504.32 points (+2.56%) to 20,179.09, China stock market up 23.82 points (+0.83%) to 2,895.34 and Australia ASX 200 up 26.90 points (+0.50%) to 5,391.10. The European stock market also trades higher on the spark of possible U.S-China trade deal. DAX Germany up 0.99%, FTSE UK up 1.40%, Euro STOXX 600 up 0.68%
Dow Jones Industrial Average (INDU)
DJIA index has not resistancebreakout of 22,500 – 24,250 area and currently consolidating between SMA 50 and the 24,250 resistance level. No change to the outlook of the index which is currently sideway inside the range. DJIA futures currently up more than 200 points which indicate higher opening but the index might close inside the range again.
Price T Rowe Group (TROW)
TROW share prices are in upward correction and have reached the trendline also daily SMA 200. There was a bearish reaction from the resistance levels. At the current time, the share prices might attempt to move higher and retest the resistances levels again.
When the retest results in bearish reactions then traders could look to enter short positions.