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The Dow Jones Industrial Average closed at 44,406.36 on Monday, July 7, down 422.17 points, or 0.94%. The S&P 500 closed at 6,229.98 on Monday, July 7, down 49.37 points, or 0.79%. The Nasdaq Composite closed at 20,412.52 on Monday, July 7, down 188.59 points, or 0.92%.Broadcom Inc (AVGO.O) has sold three tranches of investment-grade bonds totaling $6 billion, its largest offering so far in 2025. The 10-year bonds were priced 30 basis points tighter than initial guidance, reflecting strong investor demand.On July 8, François Villeroy, a member of the European Central Banks Governing Council and the Governor of the Bank of France, said that with interest rates already at zero, a large-scale asset purchase program is the best unconventional tool to guide monetary policy. This statement was made after the European Central Bank completed its strategic review. In a column published on Monday in Les Echos, he stressed that although quantitative easing policies have been controversial for triggering asset bubbles, exacerbating inequality and causing losses to some eurozone central banks, their policy effects are still better than negative interest rates. He also pointed out that policy tools such as long-term refinancing operations (LTRO) and the transmission protection instrument (TPI) should be used mainly to ensure that monetary policy is effectively transmitted to the 20 eurozone economies.White House official: Tariffs will not be imposed cumulatively.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending July 1, stock fund managers increased their net long positions in the S&P 500 index at CME by 3,352 contracts to 844,576 contracts. Stock fund speculators increased their net short positions in the S&P 500 index at CME by 29,824 contracts to 298,864 contracts.

E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – Ready to Strike Next Main Top at 34011

Alice Wang

Aug 15, 2022 15:03

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Late in the Friday afternoon, September E-mini Dow Jones Industrial Average futures are trading substantially higher. Expectations of a less rapid pace of future interest rate increases beginning in September are the driving forces behind the rally. The present spending binge was spurred by earlier in the week's weaker-than-anticipated consumer and producer inflation numbers.


September E-mini Dow Jones Industrial Average futures are now trading at 33634, up 330 or +0.99%, at 18:58 GMT. Currently trading at $337.81, the SPDR Dow Jones industrial average ETF is up $4.10 or +1.23%.


Optimism was also fueled by statistics indicating that U.S. consumer confidence increased in August after hitting a record low this summer and that American consumers' expectations for inflation in the near term decreased once again as a result of falling gasoline costs.


The banking sector is up approximately 1.4% to continue its gain for a sixth consecutive week, according to stock market reports. JPMorgan Chase & Co. and Goldman Sachs Group Inc., two Dow components, are up 1.66% and 0.61%, respectively. Walt Disney and Merck & Co. are poised to record the session's biggest increases.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The rise resumed after the transaction passed 33625. The uptrend will be confirmed if a move is made through the next key top at 34011. When a transaction passes over 32342, the primary trend will turn downward.


35405 to 29639 is the primary range. The support that is dictating the short-term direction of the market is between 33202 to 32522, which is the strong side of the market's retracement zone.

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