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Dow Futures pointing To a Strong Opening – Market Set to Trade Higher -

Feb, 12th 14:42

U.S. stock index futures pointed to a solid open on Monday, but worries about a return to inflation and a week of wild swings in the market kept investors on edge.

The Dow futures were trading at 24248, 1.24% higher and S&P 500 up 1.17 percent. That would add to a 1.5 per cent on Friday that took the index to 2,619, rising from an earlier low of 2,532.69. For the week, however, the S&P 500 shed 5.2 per cent, its biggest five-day fall since January 2016.

The moves came after U.S. indexes rebounded on Friday, although the Dow still had its worst week in two years. The Dow Jones industrial average popped more than 300 points, recovering from deep early losses in what still amounted to the worst week in two years.

The White House will unveil its long-awaited infrastructure plan, fulfilling a signature campaign promise of President Donald Trump. The proposal includes $200 billion in federal infrastructure spending over a decade, which would be paid for through cuts elsewhere in the budget.

Investors are waiting for US inflation figures, due out on Wednesday, for signs the market will settle or that more volatility is on the way. Economists expect the US consumer price index to rise for a fifth straight month.

On the technical charts, Dow30 is trading in the positive zone, above the 200 day EMA. The market is trading below the 9 day, 20 day, 50 day and 100 day moving averages. The RSI is at 41.52 and the MACD is below the signal line.

Trade suggestion:

Buy digital Call options between 24500 and 24610, valid until 23:00 GMT February 2018