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Dow Jones futures are currently trading at 26905- higher by 0.61% as compared to the previous close. The contract, however, closed in the negative territory in the last trading session.
In the Cash Markets, the DJIA inched up 0.55% as Intel outperformed.
U.S. equities advanced today as market participants’ cheered strong quarterly earnings from Intel along with progress on the Sino-U.S. trade front.
Stocks of Intel surged 7.94% after the company’s quarterly earnings topped market expectations. The chipmaker also issued better-than-expected guidance for the current quarter.
Stocks of Visa surged 1.4% after its third-quarter results beat market expectations.
The sentiment was also lifted by trade optimism. The U.S. trade representative said Washington and Beijing were close to finalizing parts of a phase one trade deal.
Verizon Communications dropped 0.84% despite the company exceeding market expectations for quarterly profit and revenue earlier today.
Boeing fell 1.37% after Indonesian authorities looking into the Lion Air crash said the company failed to grasp risks in the design of cockpit software on its 737 MAX jet.
Other top gainers in the Dow Jones include Pfizer (up 1.13%), Caterpillar (up 3.74%), and Cisco Systems (up 0.80%) at the time of writing.
The 30-stock index was up around 0.8% for the week.
On the economic front, Michigan Consumer Sentiment for October released earlier today came in at 95.5. The index reading was below the consensus estimates of 96.0.
On the technical front, the RSI is currently at 55.22% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
Overall Bias is Positive and Short-term trades can be initiated with tight Stop Loss and Take Profit targets.
Trade Suggestion-Limit Buy At 26885, Take Profit At 27005 Stop Loss At 26825