Dow Jones Futures: Stock Market Rally, Tesla Hit Resistance; SEC Accounting Probe Slams Baidu’s iQiyi, GSX Techedu – Investor’s Business Daily

Dow Jones futures rose modestly late Thursday … 2 trillion market cap.
Dow Jones Futures Today
Dow Jones futures rose 0.2% … Remember that overnight action in Dow futures and elsewhere doesn… the Micron warning.
Meanwhile, Dow Jones Industrial Average fell 0.3% …

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Dow Jones Futures: Stock Market Rally, Tesla Hit Resistance; SEC Accounting Probe Slams Baidu’s iQiyi, GSX Techedu – Investor’s Business Daily

Dow Jones futures rose modestly late Thursday … 2 trillion market cap. Dow Jones Futures Today Dow Jones futures rose 0.2% … Remember that overnight action in Dow futures and elsewhere doesn… the Micron warning. Meanwhile, Dow Jones Industrial Average fell 0.3% …

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Dow Jones Hits Key Resistance, Nikkei 225 Clears its Own. Dax 30 Ranges

Dow Jones Hits Key Resistance, Nikkei 225 Clears its Own. Dax 30 Ranges

Aug 13, 2020 (MENAFN via COMTEX) —

(MENAFN – DailyFX) DOW JONES, DAX, NIKKEI 225 INDEX OUTLOOK:

Dow Jones fell 0.29% on Thursday despite better-than-expected jobless claims data DAX 30 consolidated at around 13,000, a psychological resistance Japan’s Nikkei 225 index broke above 22,900 resistance, attempting the next one at 23,300 Dow Jones Index Outlook:

Better-than-expected US weekly jobless claims failed to lift the Wall Street equities overnight, with energy (-1.47%), financials (-0.96%), communication services (-0.43%) and industrials (-0.37%) among the worst performers. The share price of Cisco Systems plunged 11.2% after the release of disappointing 2Q results.

Some 963k people filed jobless claims last week, marking a second weekly decline since end July. This is also the lowest reading seen since 13th March 2020. Improving job market sentiment points to perhaps a brighter inflation outlook, which may explain rising longer-dated Treasury yields over the past two weeks.

The US stock markets, however, failed to extend gains on favorable macroeconomic data, as the valuations seemed to have been stretched. Investors are also concerned about the lack in approval of a second US stimulus package and this weekend’s US-China talks.

Dow Jones Sector performance 13-8-2020

Source: Bloomberg, DailyFX

Source: Bloomberg, DailyFX

Technically, the Dow Jones is challenging a key resistance at 28,000 – the 161.8% Fibonacci extension. The index may face some selloff risk at this level but its overall momentum remains bullish. Breaking above 28,000 resistance will likely open the room for more upside towards the 200% Fibonacci extension at 29,600.

Dow Jones Index – Daily Chart

DAX 30 Outlook:

Germany’s DAX 30 index stock market benchmark ended 0.5% lower on Thursday, consolidating at a key resistance level at 13,000. Payment company Wirecard was

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