FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
E-Mini Dow
U.S. stock index futures headed lower on Thursday as investors braced for another staggering jobless claims report and a plunge in business activity data as state-wide lockdown measures hammer economic growth.
Surveys on U.S. manufacturing and services firms are likely to mirror dismal readings from Asia and Europe issued earlier on Thursday.
Data is also likely to show a record 26 million Americans sought unemployment benefits over the last five weeks, confirming that jobs created during the longest employment boom in U.S. history were wiped out in about a month.
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Plan A : Continue to hold short if market does not breach above 23505. Targets are 23470, 23425 and 23380.
Plan B : Cut above 23540.
Plan C : Long if market rebounds from 23520. Targets are 23565 and 23610.
Plan D : Cut below 23485.
Plan D : Cut below 23485.
E-Mini S&P 500
Stocks were taken for a wild ride on Thursday that showed just how important finding a treatment for the coronavirus is for Wall Street.
The Dow closed just 39.44 points higher, or 0.2%, at 23,515.26. Earlier in the day, the Dow rallied more than 400 points. The S&P 500 dipped 0.1% to 2,797.80 while the Nasdaq Composite closed just below breakeven at 8,494.75. Both the Nasdaq and S&P 500 were up more than 1% at their session highs.
The Financial Times said — citing documents accidentally published by the World Health Organization — that GIlead Sciences' drug remdesivir did not improve patients' condition or reduce the coronavirus pathogen in their bloodstream. Those findings, according to the report, came from a clinical trial in China.
Gilead took issue with the report, saying: “Because this study was terminated early due to low enrollment, it was underpowered to enable statistically meaningful conclusions. As such, the study results are inconclusive, though trends in the data suggest a potential benefit for remdesivir, particularly among patients treated early in disease.”
Equities attempted a rebound on the back of Gilead’s statement before closing along the flatline. Gilead Sciences shares closed 4.3% lower.
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Plan A : Short if market failed to support above 2773.25. Targets are 2745.25, 2723.50 and 2704.75.
Plan B : Long if market supported firm above 2773.25. Targets are 2798.25, 2820.25 and 2839.25.
Plan B : Long if market supported firm above 2773.25. Targets are 2798.25, 2820.25 and 2839.25.
E-Mini Nasdaq
U.S. stock futures were lower in early Friday morning trade as investors continued to weigh the prospects of a potential coronavirus treatment.
Dow futures fell 16 points, implying a Friday opening decline of about 86 points. S&P 500 and Nasdaq futures also pointed to Friday opening losses for the two indexes.
The major averages were taken for a wild ride during the regular session after The Financial Times reported — citing documents accidentally published by the World Health Organization — that Gilead Sciences’ drug remdesivir did not improve coronavirus patients’ condition. The documents cited by the FT referred to a Chinese clinical trial.
Gilead noted that study was “terminated early due to low enrollment,” leaving it “underpowered to enable statistically meaningful conclusions. As such, the study results are inconclusive.”
The S&P 500 and Nasdaq Composite closed just below the flatline on Thursday while the Dow eked out a small gain. At their session highs, however, the averages were all up more than 1%.
U.S. stock futures were lower in early Friday morning trade as investors continued to weigh the prospects of a potential coronavirus treatment.
Dow futures fell 16 points, implying a Friday opening decline of about 86 points. S&P 500 and Nasdaq futures also pointed to Friday opening losses for the two indexes.
The major averages were taken for a wild ride during the regular session after The Financial Times reported — citing documents accidentally published by the World Health Organization — that Gilead Sciences’ drug remdesivir did not improve coronavirus patients’ condition. The documents cited by the FT referred to a Chinese clinical trial.
Gilead noted that study was “terminated early due to low enrollment,” leaving it “underpowered to enable statistically meaningful conclusions. As such, the study results are inconclusive.”
The S&P 500 and Nasdaq Composite closed just below the flatline on Thursday while the Dow eked out a small gain. At their session highs, however, the averages were all up more than 1%.
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Plan A : Short if market failed to support above 8550.25. Targets are 8509.25, 8478.75 and 8449.75.
Plan B : Long if market supported firm above 8550.25. Targets are 8589.75, 8621.25 and 8652.25.
Plan A : Short if market failed to support above 8550.25. Targets are 8509.25, 8478.75 and 8449.75.
Plan B : Long if market supported firm above 8550.25. Targets are 8589.75, 8621.25 and 8652.25.
Plan B : Long if market supported firm above 8550.25. Targets are 8589.75, 8621.25 and 8652.25.
HSI
HSI
Hong Kong shares edged higher for a second session on Thursday, tracking the rebound in global markets as oil prices bounced from historic lows and expectations that China’s economy is slowly recovering.
At the close of trade, the Hang Seng index was up 0.4% at 23,977.32.
Hong Kong shares edged higher for a second session on Thursday, tracking the rebound in global markets as oil prices bounced from historic lows and expectations that China’s economy is slowly recovering.
At the close of trade, the Hang Seng index was up 0.4% at 23,977.32.
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Plan A : Continue to hold short if market stays below 23941. Targets are 23855 and 23760. Cut above 24030.
Plan B : Long if market rebounds from 23955. Targets are 24035 and 24130. Cut below 23870.
WTI Crude
Oil jumped nearly 20% on Thursday, accelerating its recent rally as the Street eyes continued production cuts and rising U.S.-Iranian tensions.
WTI Crude
Oil jumped nearly 20% on Thursday, accelerating its recent rally as the Street eyes continued production cuts and rising U.S.-Iranian tensions.
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Plan A : Attempt buy if oil price trades firmly above 17.0
Plan B : Cut below 16.5
Plan C : Consider selling if oil price surges but fails to breach above 17.6
Plan D : Cut above 18.3
Gold
Gold prices jumped as much as 1.5% to more than one-week high on Thursday, emboldened by hopes of more stimulus from the United States as a coronavirus-led lockdown takes a toll on the world's largest economy and its labor market.
Plan A : Attempt buy if oil price trades firmly above 17.0
Plan B : Cut below 16.5
Plan C : Consider selling if oil price surges but fails to breach above 17.6
Plan D : Cut above 18.3
Gold
Gold prices jumped as much as 1.5% to more than one-week high on Thursday, emboldened by hopes of more stimulus from the United States as a coronavirus-led lockdown takes a toll on the world's largest economy and its labor market.
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Plan A : Remain buy as long as gold price trades firmly above 1745
Plan B : Exit below 1730
Plan C : Consider selling if gold price surges but fails to breach above 1764
Plan D : Cut above 1769.9
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.
Plan A : Remain buy as long as gold price trades firmly above 1745
Plan B : Exit below 1730
Plan C : Consider selling if gold price surges but fails to breach above 1764
Plan D : Cut above 1769.9
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