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DJIA gains 1.13%

FXStreet (Mumbai) - The DJIA has inched higher after a back-to-back positive economic data out of the Eurozone and the US erased the concerns of a global economic slowdown.

The DJIA is trading 1.13% higher today at 16,664 levels. The Index breadth is positive with an advance decline ratio of 26:4. Among the index stocks, 3M and Caterpillar have gained 4.96% and 3.98% respectively. Meanwhile, AT&T and Procter & Gamble are down by 2.71% and 1.64% respectively.

Moreover, AT&T, the second-largest U.S. wireless carrier, missed profit estimates and cut its sales forecast as promotions and price cuts took a toll. On the other hand, GM and Caterpillar have rallied on a strong quarterly performance.

DJIA Technical levels

The index has an immediate resistance of 16,735 (May. 13 high), above which prices can rise to 16,800 levels. On the other hand, the index may fall to 16,460 levels if the immediate support of 16,654 is breached.

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