Dow Jones Futures Point to Positive Opening on Q3 Earnings Optimism

Wall Street index futures contracts in premarket point for a quiet start the cash market later today. The Dow Jones adds 0.02% at 26,803. The Nasdaq futures currently trading 0.09% higher at 7,956, while the S&P 500 futures trading 0.03% higher at 3,007; Traders closely follow the critical vote in UK Parliament about the Brexit agreement and the US-China trade relations. Before the markets open we await figures on existing home sales and manufacturing, while  Harley-Davidson, 3M, UPS, Kimberly-Clark and McDonald’s, will be among the group of companies out with Q3 results. Later this week we have more earnings results from Facebook (FB), Microsoft (MSFT), AMD, Amazon (AMZN), Twitter, and Intel. Secretary of Commerce, Yesterday, Commerce Secretary Wilbur Ross said that USA would be very happy to do a trade agreement with the UK after Brexit. On the US-China trade conflict, said that a trade deal with China doesn’t have to be finalised in November adding that they want to be sure that the deal is right.

Download our Gold Prices Q4 Outlook Today!

Dow Jones Futures Resistance and Support

Dow futures trade cautiously higher ahead of the Brexit vote and the earnings release while keeping the bullish short term momentum. On the upside the first resistance stands at 26,857 today’s high and then at 27,080 the high from October 17. A break above that level will open the way for a move up to all-time highs at 27,399. On the downside, Dow Jones futures first support stands at 26,751 today’s low and then at 26,575 the 100-day moving average, a break below might accelerate the move to the next support level at 26,098 and the 200-day moving average. The technical outlook for Dow Jones is bullish and is safe as far as the index trades above 26,500.

The European Indices trading higher, the DAX 30 is 0.24 percent higher at 12,778 while CAC 40 in Paris trades 0.05 percent higher at 5,651. The FTSE 100 is 0.49 higher at 7,198.