Stock market boosted by better than expected job data

The jobless claim comes out at 406k or hitting a new pandemic low level. The better than expected job data helped the U.S stock market futures to trade on the positive side. The market expected to trade higher even though prelim GDP data came out slightly miss from the target. Prelim GDP comes out at 6.4% vs 6.5%.

Traders will expect trading sessions mostly flat proceeding to Memorial Day weekend.

Asian & European Stock market

The Asian stock market mixed. Japan Stock market down 93.18 points (-0.33%) to 28,549.01, China stock market up 15.49 points (+0.43%) to 3,608.85 and Australia ASX 200 up 2.40 points (+0.03%) to 7,094.90. The European stock market slightly higher. DAX Germany up 0.11%, UK FTSE down 0.01%, and Euro STOXX600 up 0.37%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index little changed yesterday as it closed inside the Tuesday range. The index might continue trading near the current level for now and aiming for more record highs. The index futures currently trading higher 136 points which indicates a bullish opening.

Salesforce com Inc (CRM)

CRM share prices formed higher low on the chart and currently moving upward to test the bearish channel also daily SMA 200. If the share prices could break out above both resistance levels and print a higher high then the trend will switch from bearish to bullish. Traders will observe the share price reaction near the resistance levels for now.

Ralph Lauren Corp (RL)

RL share prices were under pressure and pushed lower to reach the daily SMA 100. We have bounce indication from the averages and it might move upward to test flip level at $130.00. If the share prices could climb and close above the level then it is expected to continue the bullish trend.