LIVE MARKETS Dow Industrials poised to pop post CPI

  • 12/10/2021
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Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com DOW INDUSTRIALS POISED TO POP POST CPI (0900 EST/1400 GMT) In the wake of mostly in-line November CPI data , CBT e-mini Dow Futures are posting premarket gains suggesting the Dow Jones Industrial Average (.DJI) is poised to rise around 200 points when regular-session trading kicks off on Friday: DJI12102021 DJI12102021 In that event, the DJI can challenge the 76.4%/78.6% Fibonacci retracement zone of its November-December slide at 35,961.87/36,018.16. Traders will be watching for how the Dow deals with this barrier. The next levels above this zone include the November 16 high at 36,316.61, the November 8 record close at 36,432.22 and the November 8 record intraday high at 36,565.73. The resistance line from early 2018, which capped strength in November, is now close to 37,000. A failure to overwhelm the retracement zone, followed by a reversal below Thursday"s low at 35,577.14, however, can add credence to the view that December strength has just been a counter-trend bounce. read more (Terence Gabriel) ***** FOR FRIDAY"S LIVE MARKETS" POSTS PRIOR TO 0900 EST/1400 GMT - CLICK HERE: read more Terence Gabriel is a Reuters market analyst. The views expressed are his own Our Standards: The Thomson Reuters Trust Principles.

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