. Market Insights: General Motor Earnings, Alphabet, Microsoft

Market Insights: General Motor Earnings, Alphabet, Microsoft

Market Insights: General Motor Earnings, Alphabet, Microsoft

30 Jan 2024

Dow Jones investors prepare for GM’s earnings Alphabet, Microsoft’s reveals, and a key Fed meeting set to sway expectations.

FUNDAMENTAL OVERVIEW:

  • General Motors announces earnings before Tuesday’s opening, with the market closely monitoring the outcome.
  • Alphabet and Microsoft are set to reveal their earnings after Tuesday’s closing.
  • The Federal Reserve’s decision is pivotal in determining the market direction for this week.

The primary U.S. stock indexes exhibit mixed but predominantly lower trends in Tuesday’s pre-market trade, as investors focus on recent corporate earnings and the impending Federal Reserve policy meeting. General Motors (GM) is poised to report before the market opens, while the spotlight turns to Alphabet and Microsoft after the closing bell.

The market aims to capitalize on a positive prior session where the Dow and S&P 500 secured their sixth-record closes of the year.

Attention is focused on the two-day policy meeting of the Federal Open Market Committee, where the market anticipates the Federal Reserve to uphold existing rates. Additionally, investors closely watch significant economic data concerning housing, the labor market, and consumer confidence.

DOW JONES TECHNICAL ANALYSIS DAILY CHART:

DOW JONES

Technical Overview:

Dow Jones is trading within an up channel.

Dow Jones is positioned above all Moving Averages (SMA).

The Relative Strength Index (RSI) is in the buying zone, while the Stochastic oscillator suggests a Positive trend.

Immediate Resistance level: 38474.01

Immediate support level: 38012.20

HOW TO TRADE DOW JONES

The Dow Jones exhibits an upward trajectory within a channel, displaying a structure of higher highs. Presently, the Dow sustains its upward momentum, suggesting a bullish outlook. A minor pullback may be anticipated following the robust ascent. The current scenario suggests considering a buy-on-dip strategy.

TRADE SUGGESTION- LIMIT BUY– 38031.98, TAKE PROFIT AT- 38433.85, SL AT- 37796.10.