S&P 500 and DAX Trading Levels – Busy Week Of Earnings, Apple in Limelight
The present week will be dominated by several market-moving events, with the Federal Reserve’s monetary policy meeting, July’s jobs report, and the earnings report from tech leader Apple and many more companies.
Unsurprisingly, the global stock markets aren’t moving much and it continues to trade sideways on Monday. Looks like the investors are saving their shots ahead of major economic events. The real game will begin tomorrow with the release of BOJ policy decision and on the U.S. consumer confidence.
Most importantly, it’s another big week for earnings reports. Apple (NASDAQ: AAPL) remains in the highlight as it’s due to report its earnings on Tuesday. As we recall, there has been a strong sell-off in Netflix (NASDAQ: NFLX), Facebook (NASDAQ: FB) and Twitter (NYSE: TWTR) after disappointing forecasts.
Can we expect the same kind of behavior from Apple? Let’s wait and watch. A dip in Apple (NASDAQ: AAPL) earnings report can cause a sell-off in the U.S. indices.
Besides this, the stock markets can remain under bearish pressure on the back of Federal Reserve interest rate meeting. Although, they aren’t expected to hike the rate in August. Clues about the next rate hike will matter a lot.
Watch out for these key trading levels for SPX and DAX this week.
S&P 500 – SPX500- Trading Levels
Support Resistance
2792.1 2813.12
2785.6 2819.62
2775.09 2830.13
Key Trading Level: 2802.61
DAX – GER30 – Trading Levels
Support Resistance
12485.08 12721.5
12412.04 12794.54
12293.83 12912.75
Key Trading Level: 12603.29
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