The Dow is higher in leading the way amongst the major indices today. The S&P is near unchanged. The NASDAQ index is down marginally. The major indices are all on two-day winning streaks. The NASDAQ index rose over 2% on each of the trading days.
A snapshot of the market currently shows:
- Dow Industrial Average up 139 points or 0.42% at 33767
- S&P index is up 0.7 points or 0.01% at 4020.03
- NASDAQ index is down -18.78 points or -0.17% at 11345.44
The Department of Justice is bringing a lawsuit against Google for anti-competitive practices. Alphabets stocks is down -1.97%.
After the close Microsoft reports earnings. The expectations are for revenues to rise 2.4% year on year to 52.97 billion. Earnings-per-share are expected at $2.30. Microsoft shares are down $-0.63 or -0.26% at $241.99.
Looking at the daily chart of Microsoft, the price moved above its 100 day moving average yesterday at $241.01. Back on December 13 and December 14, the price moved above the moving average but stalled against its 200 day moving average and rotated back to the downside. Going back to August 15, the price also stalled against its 200 day moving average.
The current 200 day moving average is up at $255.64. Getting above that moving average is required to increase a bullish bias going forward.