DJIA heavily in the red after Trump says U.S. companies must look for ‘alternative to China’


  • US stocks are in a state of panic over trade wars.
  • The market expects more tariff announcements today.

US Stocks are in the red while the drum beats of the trade wars continue to play havoc on investor sentiment. First of all, President Donald Trump has been saying that he’s ordering American companies to start looking for “an alternative to China,” after Beijing finally punched back with tariffs on imports of U.S. goods.

We are trading volatile markets to the week with headlines from the Jackson Hole streaming through whereby Federal Reserve chairman Powell has delivered comforting words to investors whereby he has indicated that the door is indeed wide open for another interest rate cut in September.

The mixed backdrop for investors has subsequently resulted in the Dow Jones Industrial Average DJIA, -2.26%  falling 520 points, or 2%, to 25,732. The S&P 500 index fell dropped 59 points to 2,863 in a 2% decline while the Nasdaq Composite index lost 195 points, or 2.4%, to 7,796.

"The Dow is down 573 points perhaps on the news that Representative Seth Moulton, whoever that may be, has dropped out of the 2020 Presidential Race!" -

Trump

We are waiting for Trump to say more and the market expects more tariff announcements.

DJIA levels

DJIA

Overview
Today last price 25662
Today Daily Change -558.00
Today Daily Change % -2.13
Today daily open 26220
 
Trends
Daily SMA20 26273
Daily SMA50 26631.72
Daily SMA100 26310.24
Daily SMA200 25629.28
Levels
Previous Daily High 26384
Previous Daily Low 26098
Previous Weekly High 26430
Previous Weekly Low 25238
Previous Monthly High 27408
Previous Monthly Low 26616
Daily Fibonacci 38.2% 26207.25
Daily Fibonacci 61.8% 26274.75
Daily Pivot Point S1 26084
Daily Pivot Point S2 25948
Daily Pivot Point S3 25798
Daily Pivot Point R1 26370
Daily Pivot Point R2 26520
Daily Pivot Point R3 26656

 

 

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