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Overview of April market

Overview of April Market
Overview of April Market
Chun Bong Lai

The markets for April is approximately the same. The Dow Jones Industrial down 300 points and up 300 points; basically, it is trading flat for the month of April. Earnings session kicked in with mixed results. The resistance level for the DJIA is at 16,500 to 16,600 level. It is quite hard to break through the resistance as it has been around this resistance level for around four months now.

The following are important headlines for the month of April: US job openings hit six-year high in February; IMF's global forecast is most optimistic since the crisis; GM to invest $449 million in electric-car development; US stocks rally as Fed ditches rate hike target; China exports unexpectedly fell in March; IMF: world economy is strong but faces threats; Tech stocks sink Wall Street; US posts smallest March Federal budget deficit since 2000; China consumer prices rise, but industry deflation persists; Earnings drop at JPMorgan drags bank stocks lower; Producer inflation accelerates in March; Herbalife marketing tactics said to be probed by FBI; G-20 leaders worry Ukraine crisis could lead to economic instability; Draghi says euro appreciation would trigger ECB stimulus; Surging retail sales signal an economy on the upswing; Facebook plans to provide mobile payment services; Yellen: big banks might need to hold more capital; Gold posts biggest drop since December; Alibaba earnings surge boosts valuation ahead of IPO; Intel's mobile-chip progress falters while PC market stabilizes; Alibaba valuation rises to $168 billion after earnings; Google earnings disappoint; IBM posts lower 1Q earnings; SAP earnings misses estimates; Weibo shares up 30% in IPO; Wal-Mart introduces money-transfer service; LinkedIn hits the 300 million member mark; Goldman Sachs earnings lower, but beat estimates.

We will continue to observe the trend for the DJIA.