Global stocks rose today, reversing a major slump that happened yesterday after the US unveiled tariffs worth more than $200 billion on Chinese imports. What is next? Gain insight into the following 12 July Dow Jones Index Trading Outlook.
12 July, OctaFX – The markets reacted to a Trump press conference in Brussels, where he sounded confident that the ongoing trade war will likely be resolved.
Broadcom Proposes to Acquire CA Technologies
The markets were also pleased with the ongoing deal-making process. Last night, Broadcom announced that it would purchase CA Technologies for $18.2 billion while Comcast upped its bid for Sky’s assets to $34 billion.
As the interest rates remain low, there is a likelihood that the current deal-making will continue.
12 July Dow Jones Index Trading Outlook
Yesterday, the Dow Jones Industrial Average (DJIA) fell by triple digits as investors grew weary about the ongoing trade conflict. Today, as the fears have eased, the index is up by more than 200 points and is currently trading at $24,900 after establishing an important support at $24,000.
The price today is above the 200 and 100-day moving average and is nearing the upper band of the Bollinger Bands. Today, the index could continue moving higher as traders eye corporate earnings and the trade situation.
This article about 12 July Dow Jones Index Trading Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.