U.S stock future rise on stimulus talk

The promise that there will be a stimulus before the end of the week boosted the market. If there is an actual stimulus deal produced then the stock market expected to continue moving upward. At the current time, DJIA futures up 78 points.

Earnings season continues but there is not much major news to watch today aside from the stimulus deal and coronavirus vaccine development.

Asian & European Stock market

The Asian stock market is mostly mixed today. Japan stock market up 42.32 points (+0.18%) to 23,516.59, China stock market down 34.50 points (-1.04%) to 3,278.00 and Australia ASX 200 down 6.80 points (-0.11%) to 6,167.00. The European stock market traded higher. DAX Germany up 1.21%, UK FTSE up 1.57%, and Euro Stoxx600 up 0.92%.

Technical Analysis

Dow Jones Industrial Average (INDU)

There is nothing out of expectation yet in the DJIA index. The index bounced from the 28,000 support level and set to continue its ranging movement between 28,000 – 29,000 area. We think the index will continue its ranging movement until next month’s election.

Vaxart Inc (VXRT)

VXRT share prices undergo a bearish correction and almost reach the daily SMA 200. At the current time, the share prices are interesting to watch as a bullish bounce might happen. If a bounce happens then the share prices are expected to trade inside a triangle consolidation as shown on the chart. If it could breakout above the trendline then we will have a new bullish run.