Dow Jones Retreats on Earnings Disappointments
Wall Street indices turn lower today with the Dow Jones giving up 0.47% at 27,140.98. The S&P 500 finished 0.48% lower at 3,003, while the Nasdaq ended 0.90% at 8,247 after disappointing earnings report and warnings from Tesla (TSLA), Paypal, Ford Boeing and American Airlines.
Dow Jones trading above all the key daily moving averages and the bulls are still controlling the game for the short term while for the midterm is on a rising trend channel. On the upside immediate resistance is at 27,360 the all time high. On the downside Dow Jones first support stands at 27,062 today’s low and then at 27,030 the 20 day moving average while more bids will emerge at 26,336 the 50 day moving average. Traders keep their long positions as far the index is trading above the 27,000 mark.
The European Indices ended lower today after European Central Bank kept interest rates unchanged, the FTSE 100 finished 0.17 percent lower at 7,556 as the pound trades above 1.2450. DAX 30 ended 1.28 percent lower at 12,362 while CAC 40 in Paris also finished 0.50 percent lower at 5,578.Don’t miss a beat! Follow us on Twitter.