Dow Jones Futures Rise by 150pts, Quartly earning session up
25 Oct 2022
The Dow Jones Industrial Average rose by 1.34% to 31,499.08 on Tuesday 25 October.
This earnings season has been good for the only banking sector.
By 19:00 ET DOW JONES FUTURES were up by 1.34%, S&P 500 Futures rose 0.5% and Nasdaq 100 Futures rose 0.3%. Nasdaq: CALM (Cal- Maine Foods Inc) is down by 0.6%, despite reporting Q2 EPS of $2.57, while revenue was reported by $658.30 million and expected $605.10 million
Apple (AAPL) retreated a day after launching the new iPhone 14 and other products, Tesla (TSLA) is the only way that moves toward the 200-day MA right now
Today’s weakness in the European market occurs because the people’s bank of China cut the repo rate and increased cash injections into the economy, a major driver of economic growth which has been hit hard by Covid-19 lockdowns
After the market close, DocuSign (cybersecurity firm Zscaler software specialist) reported better-than-expected quarterly results, ZS stocks popped overnight.
LONG-TERM TECHNICAL ANALYSIS
This daily chart indicates that Dow jones was trading in a down channel, currently, it is trading above all SMA. RSI is in the buying zone which indicates bullishness, and MACD is above zero which indicates bullishness.