Wall Street rises, pricing in a Fed rate cut enabling the DJIA to end in bullish territory

• The S&P 500 put on 0.6% to end around 7,575.
•  The Dow Jones Industrial Average DJIA added 207 points, or 0.8%, to finish near 25,540. 
• The Nasdaq Composite COMP, +0.64% climbed 0.6% to end around 7,575.

Wall Street added to gains and the DJIA finished in a technically bullish position above trend line resistance as the focus shifts to the Fed and away from trade, giving investors a respite from global growth concerns, anticipating that a Fed hike would delay an impending recession.

"Indices released overnight told different stories about how the US economy is performing. The ISM non-manufacturing index increased to 56.9 (from 55.5) but the ADP measure of jobs created slumped to its lowest level in nine years with just 27,0000 new jobs created in May," analysts at ANZ bank explained. The Dow Jones Industrial Average DJIA, +0.82% picked up 207 points, or 0.8%, to finish near 25,540 while the Nasdaq Composite added about 0.6% to end around 7,575. The S&P 500 climbed 0.6% to finish at 7,575.

Meanwhile, an escalation of trade concerns could quite quickly turn the tables around and futures, depending on the outcome of trade discussions between Washington and Mexico City between representatives from both governments meeting in Washington on Wednesday, will dictate the open for Thursday's business. 

DJIA levels

The DJIA index closed the 28th May gap and got above those lows at 25349. The index went on to break the  200- EMA and bulls can eye the 4th March fractal low at 25624 which is placed above the 23.6% Fibo. Bears can look towards 24500s and then 50% of the upside run made at the end of Dec at 24150.