WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Attempt sell if market trades below 36028. Targets are 35910 and 35770.
Plan B : Consider long if market supports above 35910 and rebound. Targets are 36028 and 36255.
E-Mini S&P 500
Stocks retreated Wednesday after October’s consumer price reading showing the biggest annual jump in more than 30 years, triggering a spike in bond yields.
The S&P 500 fell 0.8% to 4,646.71.
The yield on the benchmark 10-year Treasury, which had trended lower in recent weeks, jumped by about 11 basis points Wednesday after the CPI reading. (1 basis point is 0.01 percentage points.) A poor auction in 30-year bonds that afternoon added steam to the spike.
The consumer price index jumped 6.2% from a year ago, well above the 5.9% estimate from economists polled by Dow Jones and the largest annual increase since 1990. On a monthly basis, the CPI increased 0.9% against the 0.6% estimate. The CPI is a basket of products ranging from gasoline and health care to groceries and rents.
Stocks retreated Wednesday after October’s consumer price reading showing the biggest annual jump in more than 30 years, triggering a spike in bond yields.
The S&P 500 fell 0.8% to 4,646.71.
The consumer price index jumped 6.2% from a year ago, well above the 5.9% estimate from economists polled by Dow Jones and the largest annual increase since 1990. On a monthly basis, the CPI increased 0.9% against the 0.6% estimate. The CPI is a basket of products ranging from gasoline and health care to groceries and rents.
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Plan A : Long if market supported firm above 4655. Targets are 4667, 4676 and 4690.
Plan B : Short if market failed to support above 4655. Targets are 4640, 4621 and 4608.
E-Mini Nasdaq
U.S. stock futures were little changed in early morning trading on Thursday following a tech-driven sell-off on Wall Street.
The tech-heavy Nasdaq Composite dropped nearly 1.7% to 15,622.71.
The Nasdaq Composite was the relative under-performer, dipping 1.7% as Facebook-parent Meta Platforms, Amazon, Apple, Netflix, Microsoft and Google-parent Alphabet all closed lower.
Persistent inflation data was released on Wednesday. The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% in October from a year ago, its highest level in three decades. On a monthly basis, the CPI increased 0.9% against the 0.6% estimate.
U.S. stock futures were little changed in early morning trading on Thursday following a tech-driven sell-off on Wall Street.
The tech-heavy Nasdaq Composite dropped nearly 1.7% to 15,622.71.
The Nasdaq Composite was the relative under-performer, dipping 1.7% as Facebook-parent Meta Platforms, Amazon, Apple, Netflix, Microsoft and Google-parent Alphabet all closed lower.
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