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DJIA trades weak, Dax extends fall

FXStreet (Mumbai) - The DJIA is trading weak in line with its European peers, while the German equity index, Dax, has extended its fall post US market opening.

The DJIA is trading 0.45% lower at 16307.40, marginally below the critical support level of 16,333. The index is being driven lower by the IBM stock, which is trading down by 7.24%. Meanwhile, Ciso and Microsoft have lost 1.96% and 1.34% respectively. On the other hand , stocks like Walt Disney and Coca Cola are lending support to the index by gaining 1% each.

Elsewhere, the Dax is trading down by 1.55% at 8712.50. The index had hit a high of 8834 levels earlier today. Moreover, the weakness in the US and the European markets has pushed the US ten-year treasury yields lower to 2.16%.

This week, investors shall focus on the home sales and manufacturing data out of the US. The focus shall also be on the earnings report of Chipotle Mexican Grill Inc, Coca-Cola Co., and Yahoo! Inc.

DJIA Technical levels

The index has an immediate resistance of 16,333 levels, above which the index can re-test the Friday’s high of 16,427 levels. On the downside, failure to rise above 16,333 shall open the doors for a re-test of 16,200 levels.

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