Stock futures trade higher

Brexit Deadline Extended

In the forex market, investors are feeling somewhat relief as they know that Brexit deadline has been extended and there are still chances that we will have a deal on Brexit. Once again, anything in relation to Brexit, is going to bring higher volatility for the Pound.

Asian Markets

The Asian stock market traded mostly lower on the final trading day of the week. At the time of writing this,  the Nikkei index was trading with a loss of 0.37%. The Shanghai index fell to 1.11%, while the HSI index jumped higher by 0.33%. The ASX index declined by 0.61%.

Dow Jones and S&P 500: Market Breadth

The Dow Jones' market gained further strength as the rally continues. 90% of the Dow Jones stocks traded above their 200-day moving average.

The S&P 500 stock breadth is maintaining its momentum. 90% of the shares traded above their 200-day moving average.

Dow Jones Futures Today

The Dow Jones futures are trading lower by 40 points today. In terms of economic data, investors will be looking at the Core retail data which is due on Wednesday. The forecast is for 0.2%, while the previous reading was at 0.2%. 

The Dow Jones futures recorded three consecutive days of losses on Friday. However, the positive aspect for the bulls is that the index recorded a higher high as compared to the last week. Overall, the bulls are in strong battle with the bears because the 50-day SMA is trying its best to stay above the 100-day SMA. In order for the bulls to remain in full control of the price, the 50-day SMA needs to stay above the 100-day SMA.. The near term support is at 29,426 while the resistance is at 30,336.

The S&P 500 futures, which represent the broader stock market, has moved above the 50-day SMA on the 30-minute time frame. This is positive as the index below the 50-day SMA 11th of December and this triggered a decent sell-off. The index needs to stay above the 50-day SMA and if it drops below this average, bears are likely to increase their short bets. The near term support is at  3,548 while the resistance is at 3699.

Stock Market Rally

The S&P 500 stock index fell on Friday; the index declined by 0.13%. The energy sector led the index lower- 5 out of 11 sectors closed lower. 

The Dow index recorded gains on Friday; the Dow stocks moved the index higher by 0.16%. Eight shares advanced while 21 shares closed lower. 

The NASDAQ composite, a tech-savvy index, closed lower by 0.21 yesterday. 

S&P 500 Leaders and Laggards: Disney and Qualcomm

Disney stock contributed the biggest gain, soaring 13.6%. Qualcomm was the largest drag; it fell by 7.36%. The S&P 500 stock index is up 9% so far this year.

Dow Jones Leaders and Laggards

Disney provided the biggest help for the Dow Jones; it advanced by 13.6%, while Goldman Sachs was the largest decliner, it fell by 1.8%. 

Bitcoin 

The crypto king is back on top. Over the weekend, Bitcoin recovered its hangover and climbed back above the 19,000. Bulls are once again eyeing the all-time high price level.