U.S stock market to pause as more vaccine trials result announced
The rally in the U.S stock market might get a pause today as DJIA futures lower nearly 200 points. It is normal to see a bearish correction after the post-election rally. Late Wednesday, Moderna announced that it has enough trial cases for the Covid-19 vaccine. By the end of the month, it will know whether the vaccine works or not.
Traders and investors will observe The Fed Jerome Powell’s speech today.
Asian & European Stock market
The Asian stock market is mixed. Japan stock market up 171.28 points (+0.68%) to 25,520.88, China stock market down 3.52 points (-0.11%) to 3,338.68 and Australia ASX 200 down 31.50 points (-0.49%) to 6,418.20. The European stock market moved lower. DAX Germany down 1.03%, UK FTSE down 0.68%, and Euro Stoxx600 down 0.72%.
Dow Jones Industrial Average (INDU)
The index has not reached the 30,000 handles yet but it might be due for a correction. Today, the DJIA futures lower nearly 200 points which suggests a pullback. Traders will observe 29,000 handles and the post-election bullish gap. We still think the index could continue upward but the situation could change depending on the U.S political situation.
Trip Advisor (TRIP)
TRIP share prices worth monitoring as it will start recovery when the economy recovers after coronavirus pandemic end. We have a bullish gap and possible bearish correction. If the bearish correction could reach the broken triangle level then traders could enter long positions. The cluster of averages below the level also worth to watch too.