Positive cue before the opening bell
The stock market set for higher opening as DJIA futures up more than 300 points. A possible limited deal between U.S and China might happen following President Trump tweet which said the trade talk proceed “really well”. Aside from that, China’s regulator also announced a schedule to remove the requirement that foreign financial companies must have a Chinese investor.
Asian & European Stock market
The Asian stock market rise in trade optimism. Japan’s stock market up 246.89 points (+1.15%) to 21,798.87, China stock market up 25.95 points (+0.88%) to 2,973.66, and Australia ASX 200 up 59.70 points (+0.91%) to 6,606.80. The European stock market also traded higher. DAX Germany up 2.13%, UK FTSE up 0.42%, Euro STOXX600 up 1.68%
Dow Jones Industrial Average (INDU)
The positive development from the fundamental front should spark buying in the index. DJIA expected to continue upward and test 27,000. In the medium-term, it is possible the index will print a fresh all-time high. Technically, the index still moves between two trendlines and inside 26,000 – 27,000 range.
JD Com (JD)
JD currently traded at the daily SMA 200 and look will bounce from the averages. We have the level around $32.00 as long-term resistance. If the share prices could bounce from the averages then we could expect JD to target the resistance level.