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Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

Dow Jones, Nikkei 225, ASX 200 Index Outlook:

  • Dow Jones, S & P 500 And Nasdaq 100 indexes closed + 0.03%, + 0.03%, + 0.33% respectively
  • Lab reports show that Moderna’s Covid-19 vaccine is effective against Delta variant virus strains
  • The Asia Pacific market is in a position to trade slightly higher.Focus on China NBS Manufacturing PMI

Delta Variant, Moderna’Vaccine, NBS PMI, OPEC +, Asia-Pacific at Open:

The Dow Jones Industrial Average is Delta variant It was relaxed.Pharmaceutical company Modana A lab report was released on Tuesday showing that the Covid-19 vaccine is effective in production. antibody Against a newly discovered virus strain in India. Moderna’s share price surged more than 5% on Tuesday, hitting a record high. Still, as new virus strains continue to spread and mutate, questions remain about the worldwide production capacity and distribution of Moderna vaccines.

The· Delta variant The recent surge in Covid-19 cases in the UK and Australia could threaten a new round Blockade And travel restrictions around the world. This can cast a shadow over the fragile and disproportionate recovery of the global economy, especially in countries where vaccination is relatively slow. The worsening pandemic situation is Technology sector, Tends to be better than the periodic ones during the pandemic depth. Therefore, the Nasdaq-100 index may continue to outpace the Dow Jones.

Nasdaq-100 outperforms Dow Jones

The· U.S. dollar index It rebounded overnight to 92.07, putting downward pressure on commodities and emerging market currencies. Gold price It was pulled back to $ 1,761 and fell below the trend support of the “Bearish Pennant”, opening the door to the possibility of a further decline. crude oil Price bounced back to $ 73.5 OPEC + Meeting scheduled for July 1stst,inside that oil The cartel may decide to increase its power output by 550kbpd in August to meet increasing fuel demand.

From now on, in China NBS manufacturing PMI Reading is as dominant as today’s economic docket Core inflation In the euro area.. China’s manufacturing activity is expected to remain in the expanding territory, but economists predict that the PMI gauge will fall slightly below May levels (graph below). Higher than expected values ​​can add strength to the Chinese yuan, while lower values ​​can reverse. Click here for details DailyFX Economic Calendar..

China NBS Manufacturing PMI-Forecast

Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

Source: Bloomberg, DailyFX

Asia Pacific Market We are in a position to rebound from yesterday’s loss. Futures from Japan, Australia, Hong Kong, Taiwan, Singapore, Malaysia, India and Thailand are green, while futures from mainland China and South Korea are red.The· Hong Kong market Closed on July 1stst For Hong Kong Special Administrative Region Establishment Day.

Looking back on Tuesday’s closing price, four of the Dow Jones’ nine sectors closed at highs and 40% of the index’s constituents closed green. Consumer discretion (+ 0.98%) and information technology (+ 0.60%) outperformed, but telecommunications services (-1.28%) and industry (-0.89%) lag behind.

Dow Jones Sector Performance 29-06-2021

Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

Source: Bloomberg, DailyFX

Dow Jones Index Technical Analysis

The Dow Jones Industrial Average returned to the “up channel” after a temporary decline last week.

Immediate support levels can be found with the 33,320 – 161.8% Fibonacci extensions, while major resistors can be found with the 34,920 – 200% Fibonacci extensions. The bearish MACD difference suggests that as the bullish momentum weakens, prices can become vulnerable to technical fixes.

Dow Jones index – – every day chart

Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

Hang Seng Index Technical Analysis:

The Hang Seng Index is about to break through the “double bottom” pattern neckline (29,300) in the second attempt. Successful attempts may open the door to further upward possibilities by looking at previous highs of 31,180. The MACD index fluctuates near the neutral line, suggesting that the index may lack a clear direction in the short term.

Hang Seng Index – – every day chart

Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

ASX 200 Index Technical Analysis:

The ASX 200 index has retreated from its all-time high this week and made technical corrections. Prices may form a “bull flag” pattern. This suggests the possibility of further increases after the integration period. Immediate support levels can be seen on the 20-day SMA line (7,290), followed by the 7,200 – 127.2% Fibonacci extension. The overall bullish trend remains as suggested by the upwardly sloping SMA line.

ASX200 index – Daily chart

Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

— Written by Margaret Yang, Strategist at DailyFX.com

To contact Margaret, use the comments section below or @margaretyjy On twitter



Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

Source link Dow Jones steadily as a tech stock rally, Hang Seng Index could rebound

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