Global Stock Market Today
The global stock market had a down day today with the exception of the Aussie and Korean stock markets. The Nikkei stock index closed lower by 0.43%, the Shanghai stock index dropped 0.45% while the HSI index declined 1.42%. The Korean Kospi stock index advanced 1.1.25% and the Aussie ASX stock index soared 0.68%.
Dow Index and S&P500 Index: Market Breadth
The U.S. stock market’s breadth shows no major shift among stock traders, as bulls remain in control of the price. 47% of the Dow Jones stocks traded above their 200-day moving average yesterday.
The S&P 500 stocks show more bullish market breadth. 54% of the shares traded above their 200-day moving average yesterday.
Dow Jones and S&P 500 Futures Today
The Dow Jones Industrial Average futures are trading higher by 80 points. Caution is the name of the game among stock traders today.
The Dow Jones futures have broken yesterday’s high. The Dow futures have made the highest high since early June, which confirms that Dow stocks have support from the bulls. The Dow Jones’s futures are trading above the 50, 100, and 200-day SMA on a daily time frame, and this confirms a bull trend.
The DJIA index’s weekly candle is immensely bullish and confirms that there is a lot of enthusiasm among stock traders. The 50-week moving average has provided the support for the Dow. The Dow Jones futures are also trading above 100, 50, and 200-week Simple Moving Averages. This further strengthens the bull trend that we see for the Dow stocks.
The S&P 500 index futures, a broader representation of the U.S. stock market, are trading higher but with small gains. The S&P 500 stocks continue their journey towards a record level, and now they are only a whisker’s distance from an all-time high. This is an encouraging sign for the coronavirus stock market rally. The S&P 500 stock index is trading above the 50, 100, and 200-week SMA. This confirms the fact that the bulls are in control of the stock market rally.
Stock Market Rally
The S&P 500 index continued its advance yesterday; the S&P 500 stock index soared 0.64%. The industrial sector led the gains for the S&P 500 stocks yesterday, and eight out of eleven sectors closed with gains. Assurant
The Dow Jones industrial average index jumped 373 points yesterday, and the Dow stocks advanced the index by 1.39%. 19 stocks of the Dow Index soared, and 11 shares of the Dow Jones index fell. Disney
The NASDAQ composite, also known as the tech index, gained 28 points yesterday.