• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Dow Jones declined on the first trading day of the week

October 12, 2021
in Trading
Reading Time: 3 mins read
A A
0
Dow Jones declined on the first trading day of the week
0
SHARES
6
VIEWS
ShareShareShareShareShare

Dow Jones ended the first trading day of the week with a bearish tone. U.S. Bancorp and Walgreens Boots Alliance release their quarterly earnings today.

Dow Jones entered its sixth month of consolidation in October, so a decline like the one seen yesterday is meaningless unless we see more follow-through. As such, the outlook remains bullish because the consolidation is just shy of record levels. Futures also point to a weak opening, and the other stock market indices follow.

In Europe, all major indices opened the trading day in the red. The CAC 40 index in France is down about 1%, while the German Dax index is down by 0.80%. Unless the U.S. futures reverse some of their losses, the weakness in the European equities is likely to persist.

On the commodities front, oil remains strong while above $80, and there are no signs that the bullish bias there will end any time soon. Gold trades in a tight range, unable to move from the $1,750 area.

Economic Events to Consider Today

The main economic release in Europe comes from Germany. The ZEW Economic Sentiment is expected at 26.5, down from the 31.1 previously. This survey shows the strength of Europe’s largest economy and may move the markets, especially if the actual data comes out much weaker than the forecast.

In the United States, two Fed members hold speeches today – Clarida and Bostic. Because tomorrow the market expects the FOMC Minutes, the two may give guidance as to what comes next from the Fed in the last trading months of the year.

Today’s Markets to Watch

Today’s markets to watch are Dow Jones, U.S. Bancorp, and Walgreens Boots Alliance.

Dow Jones Outlook

The consolidation near all-time highs entered its sixth month in October, so traders must interpret each decline and advance with a grain of salt. Unless the Dow Jones index closes below 33,500 or above 35,600, any move lower or higher should be interpreted in the context of this long-term consolidation.

U.S. Bancorp

U.S. Bancorp investors prepare for the quarterly earnings due to be released this week, and the stock price hovers close to its all-time highs. It recently broke out of a bullish contracting triangle, and the bias remains constructive ahead of the conference call. A daily close below $56 will end the bullish case.

Walgreens Boots Alliance

Another company scheduled to release its quarterly earnings this week is Walgreen Boots Alliance. The price action here found support at $46 after forming a triple top pattern at $56. As such, the bias remains bearish unless we see a daily close above $52.

Winners and Losers

WTI crude oil price remains strong, trading above $80/barrel; U.S. equities and the Japanese yen started the week with a weak tone. 

Credit: Source link

ShareTweetSendPinShare
Previous Post

Even ‘less robust’ Q3 earnings may still impress amid inflation, supply woes: Morning Brief

Next Post

Bank of America stock price trending higher

Related Posts

IoT Device Management to Record US$ 39.6 Bn by 2032
Trading

IoT Device Management to Record US$ 39.6 Bn by 2032

July 1, 2022
5
Apple starts iPad assembly in Vietnam
Trading

Apple starts iPad assembly in Vietnam

July 1, 2022
4
Louis Region Poised To Join One Of The World’s Most Comprehensive…..
Trading

Port Milwaukee Director Appointed to National Maritime Transportation

July 1, 2022
4
Konecranes To Supply Miami Container Terminal With New RTGs
Trading

“A Look Back, A Look Ahead”

July 1, 2022
4
Common Causes Of Semi-Truck Breakdowns
Trading

Redwood Logistics Empowers Shippers to Grow a More Sustainable Supply Chain with Redwood Hyperion

June 30, 2022
5
Next Post
Bank of America stock price trending higher

Bank of America stock price trending higher

Recommended

US Authorities Probe Binance Amid Allegations Of Insider Trading And Market Manipulation

Binance actively hiring despite other exchanges laying off staff

June 14, 2022
6
JPMorgan economists evoke God in a chilling research

JPMorgan economists evoke God in a chilling research

June 19, 2022
6
Pall-Ex Group drives forward with US expansion

Pall-Ex Group drives forward with US expansion

June 6, 2022
11
BlockFi Gets Money Services License in Iowa Weeks After Paying a $1M Penalty

BlockFi Gets Money Services License in Iowa Weeks After Paying a $1M Penalty

June 29, 2022
4
Australian Mayor Proposes Paying Taxes in Cryptocurrency

Australian Mayor Proposes Paying Taxes in Cryptocurrency

June 7, 2022
9
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • North Korea Leads the World in Crypto Crime (Report)
  • Buy These 3 Top Cryptos Now for 20x Gains; Gnox (GNOX), Fantom (FTM), and Solana (SOL)
  • How mRNA tech blew open the door of UPS’s cold chain logistics business

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?