WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A: Remain short as long as market stays below 35277. Targets are 34909 and 34827.
Plan B: Consider long if market able to stabilize above 34909 and rebound. Targets are 35099 and 35277.
E-Mini S&P 500
The Nasdaq Composite fell again on Wednesday, bringing its decline from its November high to more than 10% as investors continue to dump tech shares as interest rates spike to start the new year.
The Dow Jones Industrial Average fell 339.82 points to 35,028.65, dragged down by a 3.1% decline in Caterpillar’s stock. The S&P 500 slid nearly 1% to 4,532.76
Of the 44 S&P 500 companies that have reported quarterly results, nearly 73% have topped Wall Street’s expectations, according to FactSet.
Surging bond yields spurred the sell-off in stocks on Tuesday. The 2-year Treasury rate — which reflects short-term interest rate expectations — topped 1% for the first time in two years.
The Nasdaq Composite fell again on Wednesday, bringing its decline from its November high to more than 10% as investors continue to dump tech shares as interest rates spike to start the new year.
The Dow Jones Industrial Average fell 339.82 points to 35,028.65, dragged down by a 3.1% decline in Caterpillar’s stock. The S&P 500 slid nearly 1% to 4,532.76
Of the 44 S&P 500 companies that have reported quarterly results, nearly 73% have topped Wall Street’s expectations, according to FactSet.
Surging bond yields spurred the sell-off in stocks on Tuesday. The 2-year Treasury rate — which reflects short-term interest rate expectations — topped 1% for the first time in two years.
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Plan A: Long if market supported firmly above 4534. Targets are 4546, 4553 and 4567.
Plan B: Short only if the market failed to support above 4534. Targets are 4528, 4512 and 4505.
E-Mini Nasdaq
U.S. equities futures were little changed Wednesday after another choppy trading session as investors remained cautious amid rising rates and the Nasdaq dipped into correction territory.
The technology-focused Nasdaq Composite dipped 1.15% to 14,340.26. Wednesday’s losses brought the index 10.7% off its most recent record close in November 2021.
The Nasdaq Composite, full of interest rate sensitive technology stocks, was the relative underperformer, dipping 2.6%.
In economic data, investors are expecting numbers on jobless claims and existing home sales Thursday.
U.S. equities futures were little changed Wednesday after another choppy trading session as investors remained cautious amid rising rates and the Nasdaq dipped into correction territory.
The technology-focused Nasdaq Composite dipped 1.15% to 14,340.26. Wednesday’s losses brought the index 10.7% off its most recent record close in November 2021.
The Nasdaq Composite, full of interest rate sensitive technology stocks, was the relative underperformer, dipping 2.6%.
In economic data, investors are expecting numbers on jobless claims and existing home sales Thursday.
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