Wall Street futures trade higher ahead in premarket session amid US-China trade deal optimism. The Dow Jones futures adds 0.08% at 27,444. The Nasdaq futures currently trading 0.08% higher at 8,216, while the S&P 500 futures trading 0.06% higher at 3,0736. Yesterday the US ISM Non-Manufacturing PMI registered at 54.7 topping expectations of 53.5 in October; JOLTS Job Openings came in at 7.024M below expectations of 7.028M in September. The Services PMI came in at 50.6, below forecasts of 51 in October while the Composite PMI came in at 50.9, below forecasts of 51.2. The United States Trade Balance came in at $-52.5B in line with forecasts for September. The Redbook Index (month over month) jumped to 0.3% in November 1st from previous 0% while the yearly reading came in at 5.5% vs 4.5%.
Investors digest the Fed decision to cut interest rates for 3rd time in a row by 25 basis point even with Wall Street at record highs.
Dow futures trade higher today keeping the bullish momentum as the index makes today another fresh all-time high. On the upside, immediate resistance stands at 27,460 today’s high before an attempt to 27,500 psychological figure. A break above that zone will open the way for a move up to 27,700. The technical analysis outlook for Dow Jones futures is bullish and is safe for bulls as far as the index trades above 27,000.