TECHNICAL VIEW ON INDICES 02 AUGUST 2022 TUESDAY
Trading range of US30 for today is 32650-32820. Key levels to look for today on the upper side are 32800, then 32950 while on the lower side key support areas are 32600 then 32500. Ahead in the session, investors will be watching fresh earnings data companies such as Starbucks Corporation (NASDAQ:SBUX), PayPal Holdings Inc (NASDAQ:PYPL), Caterpillar Inc (NYSE:CAT) and Advanced Micro Devices Inc (NASDAQ:AMD). Meanwhile, July’s nonfarm payrolls report slated for release Friday will also be closely watched. On the statistics front, the ISM manufacturing PMI came in at 52.8, which was stronger than the projected 52 and indicated that factories had expanded for 26 months in a row. However, this growth was occurring at the slowest rate since June 2020 as prices dropped to two-year lows. Key events to look for today are U.S. JOLTS Job opening data and U.S. FOMC member Bullard speaks.