U.S stimulus news to boost the market

The stimulus negotiation seems progressing well as both Mnuchin and Pelosi hinting that they are aiming for some agreement before the weekend. DJIA index futures currently higher 41 points. Traders and investors will continue to experience a change in the stock market based on political decision as election nearing.

On the earnings ground, Netflix reported weaker than expected earnings result. The company eps come out at $1.71 vs. $2.14 expectation. Global subcriber also missed projection by 1.37 million, for the third quarter, the company added 2.20 milion subscriber.

Asian & European Stock market

The Asian stock market higher today. Japan stock market up 72.42 points (+0.31%) to 23,639.46, China stock market down 3.08 points (-0.09%) to 3,325.02 and Australia ASX 200 up 7.20 points (+0.12%) to 6,191.80. The European stock market on the other hand traded on the red zone. DAX Germany down 0.76%, UK FTSE down 1.13%, and Euro Stoxx600 down 0.74%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA’s current movement span between the 28,000 – 29,000 handle and it seems the index will continue trading sideways until the election. At the current time, traders will continue observe the index movement inside the range. Traders might weigh in a bullish scenario as more the government will maintain strong performance before election.

Yandex N.V Com (YNDX)

YNDX share prices started a bearish correction after a $70.11 high and the share prices currently traded at the daily SMA 100. If the bearish correction continue then it might target the $50.00 handle and the daily SMA 200. Traders could use the daily SMA 100 and $50.00 handle as levels to enter long positions.