Dow Futures Suggest Soft Opening – Lockheed Results In Focus
Jan, 29th 13:33
Wall Street futures suggest a softer start to the Monday trading session. The Dow Jones Industrial Average was down 8 points in early Monday trading, after Friday’s 221 point gain. Friday’s rally lifted the benchmark to another record close of 26,614.02 points. The broader S&P 500, which ended Friday 1.18% higher at 2,872.79 points, is expected to slip around 5.5 points, or 0.19%, at the opening bell.
Lockheed Martin Corp. is the biggest name in Monday’s light earnings schedule, although around a third of the S&P 500 will report fourth quarter figures this week, including benchmark heavyweights Apple Inc., Microsoft Corp., Facebook and Amazon Inc. Key economic data in the form of January consumer confidence (Tuesday), the ADP employment report (Thursday) and Friday’s January non-farm payrolls will also likely keep traders focused on both the dollar and broader U.S. financial markets.
On the technical charts, DJ30 has pulled back and trading negative. The market is trading above all the moving averages (9day, 20 day, 50 day, 100 day and 200 day). The RSI is at 74.09 and the MACD is above the signal line.
Buy digital Put options between 26557 and 26500, valid until 23:00 GMT january 29th 2018
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