Selasa, 02 Juli 2013

Morning Dew - 3 July 2013

Key Points
  • JCI resumed its fall this Tuesday as it reached 4724, just above the support at 4714. The dip is still considered as a decent pullback and the index is expected to hold above its subsequent support at 4648. The overall fluctuation seems to be ranging from 4500 to 5000 as the market weighs the course of Federal Reserve's policy.
  • Despite early gains, the Dow ended the day down as investors stay cautious ahead of the key jobs data set for release on Friday. Earlier, factory orders were reportedly better than expected while Fed's William Dudley said that the Fed may extend the period of its bond purchases if required. The market now will be eyeing the ADP employment data which gauges the numbers of jobs added by the private sector, a good cue before the nonfarm payrolls data.
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