LOCAL MARKET
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LOCAL MARKET
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
The S&P 500 closed at record levels on Thursday after blowout earnings results from two of the biggest tech companies in the world: Apple and Facebook.
The S&P 500 advanced just under 0.7% to finish the day at 4,211.47, a new closing high.
First-quarter GDP hit an annualized rate of 6.4%, according to a report published by the Bureau of Economic Analysis, a sign that the U.S. economy began 2021 with an acceleration of commercial activity. Outside of the reopening-fueled third-quarter surge last year, it was the best period for GDP since the third quarter of 2003.
The Labor Department, meanwhile, reported that initial jobless claims last week totaled 553,000, just above the 528,000 estimate issued by Dow Jones.
Plan A : Long if market supported firm above 4189. Targets are 4204, 4217 and 4235.
Plan B : Short if market failed to support above 4189. Targets are 4165, 4139 and 4110.
Futures contracts tied to the major U.S. stock indexes dipped at the start of the overnight session Thursday evening as investors pored over a flurry of earnings results and a robust profit beat from e-commerce giant Amazon.
The tech-heavy Nasdaq Composite, which began the day up 1%, underperformed with a gain of just over 0.2% to end the session at 14,082.55.
Apple, which reported earnings yesterday afternoon, said that sales jumped 54% during the quarter, with each product category seeing double-digit growth. The company also said it would increase its dividend by 7%, and authorized $90 billion in share buybacks. Still, Apple shares ended the day just under the flatline.
Exxon Mobil, Chevron, and Colgate-Palmolive will all report earnings on Friday.
Wall Street will also be keep a close eye on personal income and spending data, set for release at 8:30 a.m. ET Friday morning. That data could provide investors, and the Federal Reserve, with a valuable look at how quickly prices are rising across the U.S. economy as it recovers from the Covid-19 pandemic.
Plan A : Short if market failed to support above 13895. Targets are 13855, 13810 and 13771.
Plan B : Long if market supported firm above 13895. Targets are 13925, 13958 and 13992.
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LOCAL MARKET
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
The S&P 500 closed little changed near its record level on Tuesday as investors braced for a big batch of tech earnings.
The broad equity benchmark ended the day less than 0.1% lower at 4,186.72 after hitting a record high in the previous session.
The first-quarter earnings season kicked into high gear this week with key megacap tech companies such as Alphabet, Microsoft and AMD reporting after the bell Tuesday. Apple and Facebook earnings follow on Wednesday after the bell.
On the data front, home prices in February registered the biggest gain in 15 years, rising 12% year over year and up from 11.2% in January, according to the S&P CoreLogic Case-Shiller home price index.
Meanwhile, consumer confidence climbed sharply to hit a pandemic high with The Conference Board’s index jumping to 121.7, the highest since February 2020.
Plan A : Short if market failed to support above 4174. Targets are 4147, 4122 and 4098.
Plan B : Long if market retraced but supported firm above 4174. Targets are 4189, 4205 and 4222.
E-Mini Nasdaq
U.S. stock futures were mixed in early morning trading on Wednesday as investors digested major technology earnings and geared up for the latest Federal Reserve policy announcement.
The Nasdaq Composite was the relative underperformer, dipping 0.34%.
Google parent Alphabet reported better-than-expected earnings after the bell on Tuesday, sending shares of the tech giant up more than 4% in after-hours trading. Alphabet saw its revenues grow 34% from a year ago.
Technology darlings Apple and Facebook both report earnings on Wednesday after the bell.
The Fed wraps up its two-day policy meeting on Wednesday. The central bank is not expected to take any action, but economists expect it to defend its policy to let inflation run hot. Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET, 30 minutes after the decision is announced.
Plan A : Short if market failed to support above 13926. Targets are 13885, 13844 and 13800.
Plan B : Long if market supported firm above 13926. Targets are 13956, 13988 and 14022.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
LOCAL MARKET
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...