FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Attempt long if market trades firmly above 27824. Targets are 27933 and 28070.Plan B : Cut below 27710.Plan C : Attempt short if market fails to hold above 27824. Targets are 27630 and 27590.Plan D : Cut above 27910.
E-Mini S&P 500
The Dow slid 80.12 points, or 0.3%, to close at 27,896.72. The S&P 500 dropped 0.2% to 3,373.43. The Nasdaq Composite added 0.3% to end the day at 11,042.50. The S&P 500 failed to break above its all-time high once again despite stronger-than-expected unemployment data.
The S&P closed the regular session Thursday down 0.2%. Earlier in the day, it briefly traded above its record closing high of 3,386.15. The gyrations between gains and losses through the day came as tech shares outperformed while names that would benefit from the economy reopening struggled.
If the S&P 500 breaks out for a fresh record, it would be the index’s fastest recovery from a 30% drop in its history, according to data compiled by Ned Davis Research.
Initial U.S. weekly jobless claims fell to 963,000, the Labor Department said. That’s below a Dow Jones estimate of 1.1 million. It was also the first time since March that jobless claims came in below 1 million. Thursday’s data was the latest indication of an improving labor market. To be sure, investors continued to keep a watchful eye on Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses.
Shares of Cisco Systems dropped 11% after the tech company issued weaker-than-expected earnings guidance for the current quarter. United Airlines, Delta and American all fell more than 1%.
Retail sales and consumer sentiment are among the economic numbers set for release on Friday.
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Plan A : Short if market failed to support above 3340.25. Targets are 3312.25, 3290.50 and 3250.25.
Plan B : Long only if market doesn't retrace much and supported firm above 3340.25. Targets are 3357.25, 3369.25 and 3390.50.
E-Mini Nasdaq
U.S. stock futures rose slightly early Friday morning after the S&P 500 failed once again to reach its record high from February.
Dow Jones Industrial Average futures were up 82 points at 2:18 a.m. ET, pointing to opening gains of around 85.28 points on Friday. S&P 500 and Nasdaq 100 futures also traded up.
Facebook, Netflix and Alphabet all closed higher and Apple rallied to an all-time high. Meanwhile, Gap and American Airlines both fell at least 1.8%. JPMorgan Chase slid 0.6%.
To be sure, sentiment was kept in check as lawmakers seem unable to move forward with a coronavirus stimulus bill.
House Speaker Nancy Pelosi, D-Calif., has said she will not restart talks with Republicans on the matter until they increase theiraid offer by $1 trillion. White House economic advisor Larry Kudlow also told CNBC’s that the administration and Democrats were at a “stalemate.”
“Given the current fiscal stalemate, it is extremely unlikely that consumers receive any additional fiscal support in August. Needless to say, the outlook for September is highly dependent on fiscal policy,” said Aneta Markowska, chief economist at Jefferies, in a note.
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Plan A : Short if market failed to support above 11055.50. Targets are 11002.25, 10975.25 and 10900.50.
Plan B : Long if market doesn't retrace much and supported firm above 11055.50. Targets are 11080.25, 11102.25 and 11160.50.
HSI
Hong Kong shares closed flat on Thursday as caution prevailed ahead of a crucial U.S.-China meeting this weekend to discuss the progress of the bilateral trade deal.
U.S. stock futures rose slightly early Friday morning after the S&P 500 failed once again to reach its record high from February.
Dow Jones Industrial Average futures were up 82 points at 2:18 a.m. ET, pointing to opening gains of around 85.28 points on Friday. S&P 500 and Nasdaq 100 futures also traded up.
Facebook, Netflix and Alphabet all closed higher and Apple rallied to an all-time high. Meanwhile, Gap and American Airlines both fell at least 1.8%. JPMorgan Chase slid 0.6%.
To be sure, sentiment was kept in check as lawmakers seem unable to move forward with a coronavirus stimulus bill.
House Speaker Nancy Pelosi, D-Calif., has said she will not restart talks with Republicans on the matter until they increase theiraid offer by $1 trillion. White House economic advisor Larry Kudlow also told CNBC’s that the administration and Democrats were at a “stalemate.”
“Given the current fiscal stalemate, it is extremely unlikely that consumers receive any additional fiscal support in August. Needless to say, the outlook for September is highly dependent on fiscal policy,” said Aneta Markowska, chief economist at Jefferies, in a note.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for August subscription.
Plan A : Short if market failed to support above 11055.50. Targets are 11002.25, 10975.25 and 10900.50.
Plan B : Long if market doesn't retrace much and supported firm above 11055.50. Targets are 11080.25, 11102.25 and 11160.50.
HSI
Hong Kong shares closed flat on Thursday as caution prevailed ahead of a crucial U.S.-China meeting this weekend to discuss the progress of the bilateral trade deal.
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