Better than expected U.S jobless claims boosted the market

U.S stock futures pointing to the upside after better than expected U.S jobless claims data. The jobless claims reported 340k claims vs 342 claims expectation. The number also increased compared to previous claims data which recorded 354k claims.

Traders will observe tomorrow’s non-farm employment and unemployments data which will provide more clues on the economic recovery.

Asian & European Stock market

The Asian stock market is traded mixed. Japan Stock market up 92.49 points (+0.33%) to 28,543.51, China stock market up 29.94 points (+0.84%) to 3,597.04, and Australia ASX 200 down 41.40 points (-0.55%) to 7,485.70. The European stock market is higher after U.S job data. DAX Germany up 0.16%, UK FTSE up 0.01%, Euro STOXX 600 up 0.30%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index hovering near the record high and there is no change to the situation yet. The index might close lower for few days but it might reverse the bearish movement and start moving upward again. However, if the index continues moving lower then the daily SMA 50 is the level to watch for a bounce.

Dollar General (DG)

DG share prices undergo bearish correction after the $239.35 high. It is currently trading near the broken resistance trendline while maintaining the level above it. If the share prices continue its bearish movement then traders could use the daily SMA 200 as level to enter long positions.