U.S stock futures boosted by stimulus sentiment

Traders and investors are awaiting a stimulus deal which might be realized soon. The stock market futures mostly higher on the stimulus news. However, if there is no agreement this week then we might see a setback in the stock market again. On the unemployment claims, the number comes out at 840k vs. 820k expectation.

Asian & European Stock market

The Asian stock market mostly higher today. Japan stock market up 224.25 points (+0.96%) to 23,647.07, China stock market closed and Australia ASX 200 up 65.60 points (+1.09%) to 6,102.00. European stock market also on the path higher. DAX Germany up 0.70%, UK FTSE up 0.63%, and Euro Stoxx600 up 0.65%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA made further bullish close above 28,000 and the index futures currently higher more than 200 points. The index projected to move inside the 28,000 – 29,000 area with a bullish bias as the U.S election loom. It is possible the index could extend its bullish movement toward the 30,000 handles. However, traders might want to be careful about sudden change from the political side.

Vale S.A ADR (VALE)

VALE share prices look trading inside $10.00 – $11.25 area. The share prices stick near the daily SMA 100 & 200. We think the share prices will maintain its position near the current level while waiting for a bullish trigger. Traders could use daily SMA 200 and $10.00 handle as a level to enter long positions.