Dow Futures Set For a Slightly Positive Open As Political Turbulence Rumbles On

Dow futures fluctuated ahead of Friday’s open, as investors’ tried to shake off concerns surrounding the U.S. administration.

The S&P 500 futures rose a point and a half or 0.05% to 2,756.75 as of 6:43 AM ET (10:43 GMT) while Dow futures decreased 17 points or 0.07% to 24,907.0. Meanwhile, Nasdaq 100 futures were down two points or 0.03% to 7068.25.

The moves in premarket trade come after Wall Street saw a choppy trading day Thursday, with the Dow Jones industrial average closing up more than 100 points and other major indexes closing lower. Political developments continue to rattle investor sentiment, with markets overseas seeing their gains capped due to developments within the White House.

Elsewhere, concerns surrounding a potential trade war continue to dwell on investor sentiment. Tariffs on steel and aluminum imports are expected to come into effect in the coming weeks after Trump signed two declarations last week. While Canada and Mexico are exempt from the deal, investors worry that countries around the world may strike back.

On the technical charts, DOW30 is trading sideways below the 9 day, 20 day, and 50 day moving averages but above the 100 day and the 200 day moving averages. The RSI is at 48.19 and the MACD is above the signal line, but ready to make a negative crossover below the signal line. The market is expected to trade in the positive zone for the day.

Trade suggestion:

Buy stop at 24931, Take profit at 24979, Stop loss at 24856

Leave a Reply

Your email address will not be published. Required fields are marked *