US stocks rose in mid trade on Wednesday
2018-08-08 03:48 pm | Resource: NEWS | No Views : 136
US stocks rose in midday trading on Wednesday, and there are no clear incentives for investors. Asian stocks ended mixed, while European stocks are trading lower.
At 7.45 am Eastern Time, Dow Jones futures rose by 6.00 points, S & P 500 futures were up 0.25 points and Nasdaq 100 futures were down 3.75 points.
US stocks ended higher Tuesday. The Dow Jones was up 126.73 points, or 0.5 percent, to 25,628.91, and the Nasdaq rose 23.99 points, or 0.3 percent, to 7888.66. The S & P 500 rose 8.05 points, or 0.3 percent, to 28,858.
On the economic front, Richmond Fed Chairman Richard Tom Barkan will speak to public questions and answers, followed by a separate question and answer in the media at 8.45am.
The Energy Information Administration will issue the EIA Oil Status Report for the week at 10:30 Eastern Time. The previous week, crude oil inventories were 3.8 million barrels. Gasoline inventories fell 2.5 million barrels.
In the corporate sector, Boston Scientific Corp. announced an agreement to acquire Veniti, Inc. Which developed and expanded the Vici venous stent system to treat venous occlusion.
Boston Scientific has been investing in Veniti since 2016 and currently owns 25 percent of the company. The transaction price consists of the remaining $ 108 million in cash in advance, in addition to payments of up to $ 52 million, subject to approval by the US Food and Drug Administration of the VICI support system.
Asian stock markets ended mixed on Tuesday. Chinese market fell. The Shanghai Composite Index ended down 35.30 points, or 1.27 percent, at 2,744.07.
The Japanese market fell slightly. The Nikkei was down 18.43 points, or 0.08 percent, at 22,644.31.
The Australian market ended modestly. The S & P / ASX 200 index gained 14.60 points, or 0.23 percent, to 6268.50. The broader All Ordinaries index was at 6,354.90 points, or 14.10 points, or 0.22 percent.
European stocks are trading higher. The French CAC 40 index added 1.76 points, or 0.03%. The German DAX is up 31.22 points or 0.25%. The FTSE 100 is up 63.52 points or 0.82% and the Swiss market index is down 26.39 points or 0.29%
Time frame Used - four hours The NASDAQ 100 is moving in a sideway direction in the near term. The NASDAQ 100 still faces resistance and selling pressure around the 7054 level forming a technical pattern called a rising wedge. In view of the technical indicators Both the RSI and the Stochastic are indicating a negative divergence between the RSI and the RSI as the Stochastic indicates that the indicator…
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