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Wall Street ends mixed with the DJIA leaning bearish, eyes on a break of 26000

  •  The Nasdaq Composite added 15.19 points, or 0.2%, to 7,953.88.
  • The S&P 500 was rising 3.03 points, or 0.1%, to 2,895.77.
  • Dow Jones Industrial Average fell 83.97 points, or 0.3%, to 26,341.02.

U.S. stocks ended the session higher on Monday with all two of three benchmark indexes in the green, including the S&P 500 which climbed for the eighth session in a row ahead of a new earnings season rising 3.03 points, or 0.1%, to 2,895.77, tying its longest winning streak from October 2017.  The Nasdaq Composite added 15.19 points, or 0.2%, to 7,953.88.
The laggard, the Dow Jones Industrial Average fell 83.97 points, or 0.3%, to 26,341.02 with the Boeing Co. as the index’s biggest loser weighing. 

As for data, following Friday's March employment report which showed that the U.S. economy added 196,000 new jobs, beating the expectations of 180,000, fresh concerns arose from the U.S. factory orders data which dropped 0.5% in February, a stronger decline than the 0.6% decline expected by the market showing that the manufacturers are becoming more cautious. However, on the political front, investors are awaiting news for further progress in Sino/US trade talks as well as a Brexit breakthrough, albeit, with mixed expectations. 

DJIA levels

The index is back on the defensive and the first key bearish target would likely come at 25700s where the monthly pivot is located. The 200-DMA is located in the 25200s which guards a break all the way down to 24800 gap area ahead of the 24500s and then 50% of the upside run made at the end of Dec at 24200. 

 

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