31 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 pared some losses on Thursday after data showed domestic economy rose at a 2.1% annualized rate in the fourth quarter, in line with expectations. Futures were lower earlier as investors fretted over the economic impact of a fast spreading coronavirus in China.

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Plan A : Attempt long if market stays firmly above 28740. Targets are 28770, 28815 and 28855.
Plan B : Cut below 28705.
Plan C : Consider to short if market breaks below 28765. Targets are 28730, 28685 and 28635.
Plan D : Cut above 28805.

E-Mini S&P 500

The Dow climbed 124.99 points, or 0.43%, to end the day at 28,859.44. The S&P 500 rose 0.31% to 3,283.66. The Nasdaq Composite closed 0.26% higher at 9,298.93. Stocks were down for much of the day as investors assessed the potential economic impact of the deadly coronavirus, but they reversed course after the World Health Organization declared the outbreak a global health emergency.

Chinese authorities said the death toll from the coronavirus has topped 150 with confirmed cases surpassing 8,000. This led investors to sell some of their equity holdings and buy into safe havens such as Treasurys, pushing the 10-year rate below its 3-month counterpart. This triggered a so-called yield-curve inversion, an event that has preceded recessions in the past. However, the major averages recovered after the WHO announcement, which noted that Chinese authorities had the situation under control and did not recommend restricting travel to China.

Facebook shares tumbled 6.14% after the company’s latest quarterly results showed a sharp increase in costs. Tesla, meanwhile, surged more than 10.30% after its fourth-quarter earnings topped expectations.

Caterpillar, Exxon Mobil and Chevron are scheduled to release earnings before the bell on Friday. Data on U.S. personal income along with consumer sentiment are also on deck.

About 200 S&P 500 companies have reported quarterly earnings thus far, with 70% of them posting better-than-expected profits, FactSet data shows.

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Plan A : Long if market supported firm above 3285.25. Targets are 3300.50, 3311.25 and 3320.50.
Plan B : Short if market failed to support above 3285.25. Targets are 3270.25, 3258.75 and 3247.25. 

E-Mini Nasdaq

Stocks closed higher on Thursday after a sharp comeback late in the session erased earlier losses stemming from concerns around the coronavirus.

The major averages started paring losses with roughly one hour to go after the World Health Organization declared a global health emergency, but at the same time, did not recommend travel to China be restricted and said the country had the situation under control. 

Worries over the spreading coronavirus are weighing on investor sentiment once again, with U.S. stock futures lower and world stock markets falling this morning. The Dow and S&P 500 are on track to post their second straight weekly losses since October. The Nasdaq could fall for two straight weeks for the first time since September. The Dow and S&P 500 are also on track to lose a good chunk of their remaining January gains at the open. However, the Nasdaq has been fairing better in 2020, with an advance of nearly 3.4% in January, as of Wednesday’s close. 

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Plan A : Short if market failed to support above 9166.25. Targets are 9123.25, 9095.75 and 9067.25.
Plan B : Long if market retraced but supported firm above 9166.25. Targets are 9192.50, 9215.25 and 9236.50. 

HSI

Hong Kong shares ended lower for a second straight session on Thursday amid weakness in healthcare and consumer stocks, as the number of confirmed cases of coronavirus in the city rose to 10.

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The Hang Seng index fell 2.6% to 26,449.13 points. Hong Kong’s de facto central bank said it will continue to monitor any impact from the spread the virus.

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Plan A : Above 26809, do nothing.
Plan B : Below 25803, do nothing.
Plan C : Attempt to long if market rebounds from 26260.
Plan D : Cut below 26180.
Plan E : Consider to short if market does not beach above 26535.
Plan F : Cut above 26615.

WTI Crude

Oil prices fell more than 2% on Thursday on concerns over potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting.

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Plan A : Remain sell as long as oil price stays below 53.3

Plan B : Cut above 53.9

Plan C : Consider buying if oil price able to recover and holds firm above 53.3

Plan D : Cut below 52.7

Gold

Gold held onto gains on Thursday, supported by concerns over the potential impact on global economic growth of a fast-spreading coronavirus outbreak in China which kills 170 people.

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Plan A : Remain buy as long as gold price stays firm above 1563.2

Plan B : Cut below 1556.7

Plan C : Consider selling if gold price fails to breach above 1578.1

Plan D : Cut above 1585.9

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.