WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks rallied on Tuesday and the S&P 500 ended a 3-day skid as another drop in oil prices and a softer-than-expected reading on producer prices helped ease inflation fears among investors, with the focus turning to the Federal Reserve's upcoming policy announcement.
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Plan A: Remain buy as long as market trades firmly above 33191. Targets are 33560 and 33722.
Plan B: Consider short if market surges but fails to breach above 33722. Targets are 33560 and 33354.
Plan A: Remain buy as long as market trades firmly above 33191. Targets are 33560 and 33722.
Plan B: Consider short if market surges but fails to breach above 33722. Targets are 33560 and 33354.
E-Mini S&P 500
The S&P 500 rose on Tuesday for its first gain in four days, as oil prices continued to drop further below $100 and a reading of wholesale inflation came in lighter than expected.
Falling oil prices pushed up other travel stocks as well, including cruise lines, hotels, casino and gaming companies and travel booking site operators, which were among the top gainers in the S&P 500.
February’s surge in energy prices led wholesale goods prices to their biggest one-month jump on record, the Labor Department reported Tuesday. The headline producer price index (PPI) rose 0.8% in February from the previous month. While that was slightly lower than the 0.9% estimated by Dow Jones, it still showed a 10% gain from the same time last year.
Core PPI, which excludes food, energy and trade services, rose just 0.2%. That was below the expectation of 0.6%.
The S&P 500 rose on Tuesday for its first gain in four days, as oil prices continued to drop further below $100 and a reading of wholesale inflation came in lighter than expected.
Falling oil prices pushed up other travel stocks as well, including cruise lines, hotels, casino and gaming companies and travel booking site operators, which were among the top gainers in the S&P 500.
February’s surge in energy prices led wholesale goods prices to their biggest one-month jump on record, the Labor Department reported Tuesday. The headline producer price index (PPI) rose 0.8% in February from the previous month. While that was slightly lower than the 0.9% estimated by Dow Jones, it still showed a 10% gain from the same time last year.
Core PPI, which excludes food, energy and trade services, rose just 0.2%. That was below the expectation of 0.6%.
Falling oil prices pushed up other travel stocks as well, including cruise lines, hotels, casino and gaming companies and travel booking site operators, which were among the top gainers in the S&P 500.
February’s surge in energy prices led wholesale goods prices to their biggest one-month jump on record, the Labor Department reported Tuesday. The headline producer price index (PPI) rose 0.8% in February from the previous month. While that was slightly lower than the 0.9% estimated by Dow Jones, it still showed a 10% gain from the same time last year.
Core PPI, which excludes food, energy and trade services, rose just 0.2%. That was below the expectation of 0.6%.
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Plan A: Long if market supported firm above 4269. Targets are 4273 and 4281.
Plan B: Short if market failed to support above 4269. Targets are 4257 and 4242.
E-Mini Nasdaq
Stock futures were flat in overnight trading after the major indexes rallied and oil prices tumbled below $100 a barrel ahead of Wednesday’s Federal Reserve meeting.
The tech-heavy Nasdaq Composite gained 2.9% to 12,948.62.
Tech stocks led the bounce after recent losses. Microsoft and Netflix each rose 3.8% after Wall Street analysts reiterated their overweight ratings. Oracle climbed 4.5%. Chipmakers climbed, with Nvidia 7.7% higher and Advanced Micro Devices up 6.9%.
Investors will be watching Ukrainian President Volodymyr Zelenskyy address Congress on Wednesday and are awaiting economic data, including the retail sales report for February.
Stock futures were flat in overnight trading after the major indexes rallied and oil prices tumbled below $100 a barrel ahead of Wednesday’s Federal Reserve meeting.
The tech-heavy Nasdaq Composite gained 2.9% to 12,948.62.
Tech stocks led the bounce after recent losses. Microsoft and Netflix each rose 3.8% after Wall Street analysts reiterated their overweight ratings. Oracle climbed 4.5%. Chipmakers climbed, with Nvidia 7.7% higher and Advanced Micro Devices up 6.9%.
Investors will be watching Ukrainian President Volodymyr Zelenskyy address Congress on Wednesday and are awaiting economic data, including the retail sales report for February.
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Plan A: Consider long if market supports firmly above 13530 and rebound. Targets are 13567 and 13592.
Plan B : Consider short as long as market stays below 13530. Targets are 13505 and 13474.
Plan A: Consider long if market supports firmly above 13530 and rebound. Targets are 13567 and 13592.
Plan B : Consider short as long as market stays below 13530. Targets are 13505 and 13474.
HSI
HSI fell 5.7% on Tuesday, the lowest since Feb 12 2016 with COVID-19 cases fueled fears.
HSI
HSI fell 5.7% on Tuesday, the lowest since Feb 12 2016 with COVID-19 cases fueled fears.
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Plan A: Remain short as long as market stays below 19177. Targets are 18809 and 18570.
Plan B: Consider long if market stays resiliently above 18809 and rebound. Targets are 19070 and 19177.
WTI Crude
Oil registered heavy losses Tuesday, building on Monday's decline, as myriad factors weighed on sentiment, including talks between Russia and Ukraine, a potential slowdown in Chinese demand and unwinding of trades ahead of the Federal Reserve's expected rate hike on Wednesday.
Plan A: Remain short as long as market stays below 19177. Targets are 18809 and 18570.
Plan B: Consider long if market stays resiliently above 18809 and rebound. Targets are 19070 and 19177.
WTI Crude
Oil registered heavy losses Tuesday, building on Monday's decline, as myriad factors weighed on sentiment, including talks between Russia and Ukraine, a potential slowdown in Chinese demand and unwinding of trades ahead of the Federal Reserve's expected rate hike on Wednesday.
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Plan A: Remain short as long as oil price trades below 104.5. Targets are 96.5 and 88.4.
Plan B: Consider long if oil price trades firmly above 96.5 and rebound. Targets are 98.7 and 104.5.
Gold
Gold extended its slide on Tuesday as ceasefire talks between Russia and Ukraine reduced demand for safe-haven assets, while bets that the U.S. Federal Reserve may raise interest rates for the first time in three years added to pressure on gold.
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