United States-based stock market index with $6.56 trillion Market Cap at Dec. 2018, Dow Jones Index futures (DJI), goes up slowly at Sunday night, along with S&P 500 futures and Nasdaq futures.
The current stock market rally is nearing record highs as Apple stock (NYSE: AAPL) and Microsoft stock (NYSE: MSFT) become their “heroes” because going strong in entire market session. US President and China President meeting to end the China trade war reportedly could be pushed back to June. this has led to various speculations among investors.
Dow Jones Futures Today
Dow Jones futures and S&P 500 futures edged up 0.1% vs. fair value and Nasdaq 100 futures rose 0.1%. This is like a indicate that the China trade war does not give a negative effect on investor consideration to invest in America stock market. It means, investors still have good expectations from the US stock market amid some bad fundamentals in US economic data.
South China Morning Post reporting, a meeting between the United States and China Presidents, may not happen until June. President Trump had originally hoped for a March summit at his Mar-A-Lago resort, but this meeting has already been shifted to at least April. Actually, it still makes investors hesitant to pick high-risk yield investment or safe havens asset to put their fund.
Tech Titan Stocks Outperform
The Dow Jones rose 1.6% last week, one of their supporters is tech Titan stocks Rival, Apple stock and Microsoft stock, who move in Bullish weekly trend and in the technical view, each already retest their previous High level (Apple reach previous Lower High, and Microsoft reach previous Highest level).
Apple stock spiked 7.6% (making it their best week in seven months) nearing its 200-day line when this company earning can beat analyst estimates. With 15.30 P/E Ratio (Price-to-earning Ratio), Apple still looks like “treasure” in tech industry stocks, where the previous decline (because China export import fundamental) not make this stock looked bad and that is only made as a correction by “Pro-Apple” investors.
Microsoft stock spiked 4.9%, who become their best week since November 2018, clearing new buy points and hitting a record high after reach previous Highest level (breakout or not this Highest level will lead a continuation Bullish or Double Top Pattern).
Microsoft and Apple also fell less than the major averages in the prior week’s pullback. For Apple fell (few weeks ago), it happened because of some “panic” Selling after bad sales data in China.
The relative strength lines for Apple stock and Microsoft stock have been moving higher again after moving sideways for much of the current stock market rally, who supported by their powerful dividend yield and interesting fundamental factors like P/E Ratio and Cash Flow per Share.
The S&P 500 index and Dow Jones are now just 4% off record highs, while the Nasdaq is within 6%. A satisfying achievement when some stocks in the same industry still moved under analysts expectation. When the two most valuable companies are outperforming along with growth stocks (like Apple and Microsoft Stocks), the drive to stock market highs becomes much easier and possible enough.
Recently news about Boeing accident, make Boeing stock (NYSE: BA) fell 3% in early stock market trading.
According to multiple reports, the Transportation Department is now probing the FAA’s approval of the Boeing 737 Max. On Sunday, the Seattle Times reported that the FAA delegated much of 737 Max safety assessment to Boeing, which gave regulators a “big” question mark and bad view.
Ethiopian Transportation Minister Dagmawit Moges said, “a review of flight data recorders show clear similarities between Ethiopian Airlines flight 302 and Indonesian Lion Air Flight 610.” Indonesian Lion Air Flight 610 also had an accident on 29th October 2018.
Later Sunday, Boeing CEO Dennis Muilenburg said in a statement:
“Boeing is finalizing its development of a previously-announced software update and pilot training revision that will address the MCAS flight control law’s behavior in response to erroneous sensor inputs.”
Muilenburg gave no time frame for the software fix. On Friday, Boeing stock rose 1.5% on a report that a 737 Max software fix could come within 10 days. A single update which makes quite an interesting difference in investors outlook.