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DJIA gains 0.30%

FXStreet (Mumbai) - The US Equity markets have opened higher, in line with the action witnessed the gains in the European equity markets. The negative Durable goods number released earlier today has failed to have a big impact on the stock markets.

The DJIA is trading 0.33% higher at 16,873.50 levels. The index breadth is positive with an advance decline ratio of 24:6. Among the index stocks, Merck&Co is trading 1.64% lower after it reported the disappointing sales of its Gardasil cervical cancer vaccine. The stock had tumbled 2% yesterday. Meanwhile, the biggest chemical maker by market value, Dupont share price is trading 0.30% up, despite reporting a surprise drop in the third-quarter sales. On the other hand, Caterpillar and Intel share prices are trading higher by 1.69% and 1.16% respectively.

Moreover, the stock markets in the US may extend rally if the consumer confidence number for October due later in the day manages to surpass the expected print of 87.00.

DJIA Technical levels
The index has an immediate support at 16,800 levels, below which the prices can drop to 16,652 levels. On the other hand, the index may extend gains to 17,000 levels if the immediate resistance of 16,900 is breached.

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