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 27010. Targets are 27280 and 27320.Plan B : Cut below 26920.Plan C : Attempt short if market surges but fails to breach above 27320. Targets are 27230 and 27010.Plan D : Cut above 27390.
E-Mini S&P 500
The Dow climbed 185.46 points, or 0.7%, to close at 27,386.98. The S&P 500 rose 0.6% to 3349.16. The Nasdaq Composite advanced 1% to 11,108.07. Stocks rose once again after a late-day surge in tech stocks.
Shares of Facebook ended the day up 6.5%. Apple shares rose 3.5% while Netflix and Google-parent Alphabet both closed more than 1% higher. Microsoft, meanwhile, climbed 1.6%. Those gains propelled the Nasdaq to its seventh straight positive session and to another all-time high above 11,000. The Dow and S&P 500 posted five-day winning streaks of their own.
The major averages oscillated around the flatline for most of the session as they sought clarity on the ongoing coronavirus relief stimulus negotiations. Senate Majority Leader Mitch McConnell told CNBC’s “Squawk on the Street” that lawmakers were still at odds over how much stimulus is appropriate. In another interview with CNBC’s “Squawk on the Street,” however, House Speaker Nancy Pelosi took a shot at Republicans and their priorities. She stated: “Perhaps you mistook (Republicans) for somebody who gives a damn.”
The July U.S. jobs report is set for release Friday morning.
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Plan A : Short if market failed to support above 3315.25. Targets are 3290.25, 3262.25 and 3241.25.Plan B : Long if market retraced slightly but supported firm above 3315.25. Targets are 3340.25, 3358.50 and 3375.25.
E-Mini Nasdaq
Futures tied to major U.S. equity averages traded in negative territory as U.S.-China tensions continued to heat up.
Dow futures implied a drop of more than 175 points at the open. S&P 500 futures and the Nasdaq 100 futures also traded lower.
The overnight moves came after U.S. President Donald Trump on Thursday issued executive order to address "the threat posed" by CHinese apps TikTok and WeChat. As part of the order, any transaction with ByteDance and Tencent, the parent companies of TikTok and WeChat, respectively, will be barred in 45 days.
It comes as tensions between Washington and Beijing continue to escalate over several issues including the origins of the coronavirus and democracy in Hong Kong.
Meanwhile, investors are watching closely for the upcoming monthly jobs report due at 8:30 a.m ET Friday.
It’s widely expected that the labor market’s rebound has slowed down amid a spike in coronavirus cases across the U.S. Economists predicted that the economy gained 1.48 million jobs in July, down sharply from the 4.8 million new payrolls in June, according to Dow Jones. The jobless rate is expected to dip to 10.6% in July from 11.1%.
The jobs data will come as lawmakers and the White House struggle to agree on a new stimulus package after a $600 per week enhanced federal unemployment benefit expired at the end of July.
Futures tied to major U.S. equity averages traded in negative territory as U.S.-China tensions continued to heat up.
Dow futures implied a drop of more than 175 points at the open. S&P 500 futures and the Nasdaq 100 futures also traded lower.
The overnight moves came after U.S. President Donald Trump on Thursday issued executive order to address "the threat posed" by CHinese apps TikTok and WeChat. As part of the order, any transaction with ByteDance and Tencent, the parent companies of TikTok and WeChat, respectively, will be barred in 45 days.
It comes as tensions between Washington and Beijing continue to escalate over several issues including the origins of the coronavirus and democracy in Hong Kong.
Meanwhile, investors are watching closely for the upcoming monthly jobs report due at 8:30 a.m ET Friday.
It’s widely expected that the labor market’s rebound has slowed down amid a spike in coronavirus cases across the U.S. Economists predicted that the economy gained 1.48 million jobs in July, down sharply from the 4.8 million new payrolls in June, according to Dow Jones. The jobless rate is expected to dip to 10.6% in July from 11.1%.
The jobs data will come as lawmakers and the White House struggle to agree on a new stimulus package after a $600 per week enhanced federal unemployment benefit expired at the end of July.
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Plan A : Short if market failed to support above 11128.25. Targets are 11080.25, 11038.25 and 10995.25.
HSI
Hong Kong shares ended lower on Thursday as Sino-U.S. tensions added to the existing woes about economic fallout, with U.S. Fed policymakers saying a rise in COVID-19 cases in the United States is slowing recovery in the world's largest economy.
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Plan A : Attempt short if market does not breach above 24920. Targets are 24810 and 24660. Cut above 25010.
Plan B : Attempt long if market trades firmly above 24890. Targets are 25070 and 25160. Cut below 24800.
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Plan A : Remain buy as long as oil price stays above 41.6Plan B : Exit below 41.0Plan C : Consider selling if oil price surges but fails to breach above 42.6Plan D : Cut above 43.1
Gold
Gold extended its record-breaking run on Thursday, driven by expectations of more monetary response as surging virus cases continue to pummel the U.S. economy.
Gold
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