The optimism of U.S-China trade negotiation boost the stock market
U.S stock market set to open higher on Monday as optimism that the trade negotiation between U.S and China next month will produce a positive result. DJIA futures up 50 points before the opening bell. Last week, China offered to buy U.S agricultural products in exchange for easing in Huawei export ban.
There is no major news to watch today, expect a mild trading day.
Asian & European Stock market
Asian stock market closed higher today. Japan’s stock market up 118.85 (+0.56%) to 21,318.42, China stock market up 25.14 (+0.84%) to 3,024.74, and Australia ASX 200 up 0.70 points (+0.01%) to 6,648.00. European stock market traded mixed. DAX Germany up 0.35%, UK FTSE down 0.62%, Euro STOXX600 down 0.03%
Dow Jones Industrial Average (INDU)
DJIA on the path higher to test 27,000 handle. The index might continue upward under current U.S-China optimism. Traders will wait for the reaction near the resistance to determine DJIA next direction. We think the index might trade between 26,000 – 27,000 before settling next direction.
Wayfair Inc (W)
W share prices attempting to build the bottom around $110.00 – $115.00. If the share prices could maintain the positions above $115.00 then it is possible for W to continue its upward movement. On the upside, $130.00 and the daily SMA 200 will become the resistances to watch.