Solid News

DJIA Market Update

8/15/2022 12:52 PM

Quotes of US stock indicators continue their upward correction against the backdrop of a wave of positive reports from leading companies, as well as due to correction in the bond market. The Dow Jones is correcting in a local uptrend, trading at 33683.0.

Tomorrow, investors will pay attention to the financial publications of two retail market leaders, Walmart Inc. and Home Depot Inc. From Walmart Inc. analysts expect revenue of 150.93 billion dollars, well above the 141.57 billion dollars shown in the previous quarter. At the same time, Home Depot Inc. also could well outperform the first quarter of 38.91 billion dollars to 43.36 billion dollars, and EPS could reach 4.94 dollars, which has never happened before in the company's history.

In turn, the downward correction, which began in mid-June in the US bond market, continues. According to current trading data, the rate on 10-year treasuries is 2.838%, significantly losing 3.479% in June, and the yield on global 20-year bonds is 3.329%, after 3.714%, which debt securities showed at the end of June.

The growth leaders in the index are The Walt Disney Co. (+3.30%), Merck & Company Inc. (+2.35%), Apple Inc. (+2.15%).

Among the leaders of the decline are Johnson & Johnson Co. (-1.10%), Amgen Inc. (-0.07%), Visa Inc. (-0.02%).

Quotes of the index left the limits of a wide downward channel, having overcome the resistance line last week. Technical indicators have already reversed and are holding a steady buy signal: the range of EMA fluctuations on the Alligator indicator expands in the direction of growth, and the histogram of the AO oscillator is forming new ascending bars in the purchase zone.

Support levels: 33290.0, 31626.0. | Resistance levels: 34050.0, 35274.0.

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