30 January 2020 Foreign

FUTURESCOIN IS GOING GLOBAL

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

U.S. stock index futures rose on Wednesday as strong results from Apple and other marquee companies kicked fourth-quarter earnings into top gear and overshadowed concerns over the economic impact of the fast-spreading corona-virus. 

The United States and Japan evacuated their nationals from a quarantined city in China, while British Airways suspended flights as deaths rose to 132 and the first cases emerged in the Middle East.

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Plan A : Attempt long if market rebounds firmly from 28768. Targets are 28805, 28843 and 28888.

Plan B : Cut below 28735.

Plan C : Continue to hold short if market as long as market stays below 28743. Targets are 28705, 28660 and 28615.

Plan D : Cut above 28780.

E-Mini S&P 500

The Dow climbed 11.60 points, or 0.04%, to 28,734.45. The S&P 500 fell 0.09% to end the day at 3,273.40. The Nasdaq Composite advanced 0.03% to 9,275.16. Investors digested better-than-expected earnings along with no surprises from the Federal Reserve.

Apple led a parade of companies that reported better-than-expected earnings, including General Electric, Dow and McDonald’s. The Fed, meanwhile, kept rates unchanged, as was widely expected. The central bank also said the U.S. economy is growing at a “moderate rate” while inflation remained below its 2% target.

Apple shares hit an all-time high on Wednesday, ending the day up 2.09%. General Electric, meanwhile, surged 10.32% on stronger-than-forecast earnings.

Data on fourth-quarter U.S. economic growth is set for release Thursday at 8:30 a.m. along with the latest weekly jobless claims numbers. Amazon, Visa and Coca-Cola are among the companies set to report earnings.

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Plan A : Short if market rebounded and resisted around 3259.25. Targets are 3244.25, 3232.50 and 3220.75.
Plan B : Long only if market supported firm above 3259.25. Targets are 3270.25, 3282.50 and 3292.75.
Plan C : Short if market failed to support above 3233.25. Targets are 3218.50, 3205.25 and 3196.75.

E-Mini Nasdaq

Dow Jones futures fell overnight as Asian stock markets came under pressure from the latest Wuhan coronavirus figures out of China. 

Now at 7,711 cases, with 170 deaths, it’s quite clear the virus is moving faster than SARS. The World Health Organization (WHO) may need to reconsider whether to declare an international emergency.

Trade on Wall Street was off to a strong start as positive earnings reports from big U.S. companies got investors to set aside worries about a spreading virus in China.

General Electric, Textron and Norfolk Southern all rose Wednesday after turning in solid results. 

After a mixed Wednesday session for the U.S. stock market, the Nikkei 225 fell more than 1% early Thursday as the number of confirmed coronavirus cases in China continues to soar. Dow futures were off 0.5%, while S&P 500 futures dropped a similar amount. Crude oil declined around 1%, while safe-haven gold spiked 0.5%.

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Plan A : Long if market supported firm above 9041.25. Targets are 9071.50, 9090.25 and 9110.75.
Plan B : Short if market failed to support above 9041.25. Targets are 9005.25, 8973.75 and 8942.25.

HSI

Hong Kong’s stock market tumbled almost 3% on Wednesday in the first trading session since the spread of a virus in China accelerated over the Lunar New Year holidays. 

Transport has been all but shutdown in parts of the country, travellers have cancelled bookings and some shops, restaurants, cinemas and tourist sites have closed. 

The Hang Seng index hit a seven-week low, with shares of China-exposed stocks, financials and the travel and tourism sectors leading declines as investors braced for the economic impact from the epidemic, which originated late last year in Wuhan in central China. 

The Hang Seng ended down 791.99 points or 2.83% at 27,289.55.

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Plan A : Above 27233, do nothing.
Plan B : Below 26735, do nothing.
Plan C : Attempt to long if market rebounds from 27086.
Plan D : Cut below 26995.
Plan E : Consider to short if market does not breach above 27233. 
Plan F : Cut above 27315.

WTI Crude Oil

Oil prices fell on Thursday, resuming their declines after a brief pause earlier this week, as alarm spread over the economic impact of the Wuhan virus in China, while a bigger-than-expected increase in U.S. crude stocks added to the negative tone.

Brent was down 62 cents, or 1%, at $59.19 a barrel by 0623 GMT, having risen 0.5% on Wednesday. U.S. crude was down 51 cents, or 1%, at $52.82 a barrel, after dropping 0.3% in the previous session.

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Plan A : Long if market supported firm above 52.56. Targets are 52.86, 53.17 and 53.48.
Plan B : Short if market failed to support above 52.56. Targets are 52.26, 51.96 and 51.66.

Gold

Gold prices edged higher on Thursday after the U.S. Federal Reserve Chair’s remarks that the new coronavirus outbreak could impact China’s economy in the short term boosted the safe-haven metal’s appeal.

Spot gold rose 0.1% to $1,578.95 per ounce by 0338 GMT and U.S. gold futures gained 0.5% to $1,578.90.

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Plan A : Long if market supported firm above 1574.80. Targets are 1582.60, 1587.90 and 1593.00.
Plan B : Short if market failed to support above 1574.80. Targets are 1566.50, 1561.20 and 1556.10.

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.