WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street has played the blues so far this year, closing out a dismal month and quarter on Thursday as a continued sell-off put a grim punctuation mark on the close of the S&P 500's worst first-half in more than half a century.
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Plan A: Remain short as long as market trades below 31055. Targets are 30469 and 30273.
Plan B: Consider long if market stays above 31250. Targets are 31445 and 31641.
E-Mini S&P 500Stocks fell on Thursday, as the S&P 500 capped its worst first half in more than 50 years.
The S&P 500 slid nearly 0.9% to 3,785.38.
The core personal consumption expenditures price index, the Fed’s preferred inflation measure, rose 4.7% in May, the Commerce Department reported Thursday. That’s 0.2 percentage points less than the month before, but still around levels last seen in the 1980s. The index was expected to show a year-over-year increase of 4.8% for May, according to Dow Jones.
The Chicago PMI, which tracks business activity in the region, came in at 56 in June, slightly below a StreetAccount estimate of 58.3.
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Stocks fell on Thursday, as the S&P 500 capped its worst first half in more than 50 years.
The S&P 500 slid nearly 0.9% to 3,785.38.
The S&P 500 slid nearly 0.9% to 3,785.38.
The core personal consumption expenditures price index, the Fed’s preferred inflation measure, rose 4.7% in May, the Commerce Department reported Thursday. That’s 0.2 percentage points less than the month before, but still around levels last seen in the 1980s. The index was expected to show a year-over-year increase of 4.8% for May, according to Dow Jones.
The Chicago PMI, which tracks business activity in the region, came in at 56 in June, slightly below a StreetAccount estimate of 58.3.
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Plan A: Short if market failed to support above 3752. Targets are 3747 and 3730.
Plan B: Long only if market supported firm above 3752. Targets are 3768 and 3773.
E-Mini Nasdaq
U.S. stock futures fell Friday morning after the S&P 500 closed out its worst first-half performance in decades.
Nasdaq Composite pulled back by 1.3% to 11,028.74.
The tech-heavy Nasdaq has been hit especially hard this year. The index is now more than 31% below its Nov. 22 all-time high. Some of the largest technology companies have registered sizeable declines this year, with Netflix down 71%. Apple and Alphabet have lost roughly 23% and 24.8%, respectively, while Facebook-parent Meta has slid 52%.
Federal Reserve Bank of Cleveland President Loretta Mester told CNBC Wednesday that she supports a 75 basis point hike at the central bank’s upcoming July meeting if current economic conditions persist. Earlier in June, the Fed raised its benchmark interest rate by three-quarters of a percentage point, the largest increase since 1994.
U.S. stock futures fell Friday morning after the S&P 500 closed out its worst first-half performance in decades.
Nasdaq Composite pulled back by 1.3% to 11,028.74.
The tech-heavy Nasdaq has been hit especially hard this year. The index is now more than 31% below its Nov. 22 all-time high. Some of the largest technology companies have registered sizeable declines this year, with Netflix down 71%. Apple and Alphabet have lost roughly 23% and 24.8%, respectively, while Facebook-parent Meta has slid 52%.
Federal Reserve Bank of Cleveland President Loretta Mester told CNBC Wednesday that she supports a 75 basis point hike at the central bank’s upcoming July meeting if current economic conditions persist. Earlier in June, the Fed raised its benchmark interest rate by three-quarters of a percentage point, the largest increase since 1994.
Nasdaq Composite pulled back by 1.3% to 11,028.74.
The tech-heavy Nasdaq has been hit especially hard this year. The index is now more than 31% below its Nov. 22 all-time high. Some of the largest technology companies have registered sizeable declines this year, with Netflix down 71%. Apple and Alphabet have lost roughly 23% and 24.8%, respectively, while Facebook-parent Meta has slid 52%.
Federal Reserve Bank of Cleveland President Loretta Mester told CNBC Wednesday that she supports a 75 basis point hike at the central bank’s upcoming July meeting if current economic conditions persist. Earlier in June, the Fed raised its benchmark interest rate by three-quarters of a percentage point, the largest increase since 1994.
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Plan A: Short if market failed to support above 11386. Targets are 11354 and 11326.
Plan B: Long if market supported firm above 11386. Targets are 11419 and 11445.
WTI Crude
Oil prices sank around 3% on Thursday as OPEC+ confirmed it would only increase output in August as much as previously announced despite tight global supplies, but left the market wondering about future output.
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Plan A: Remain short as long as oil price stays below 109.38. Targets are 105.47 and 104.69.
Plan B: Consider long only if oil price stays above 109.38. Targets are 110.16 and 110.94.
Gold
Gold slipped on Thursday, heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset.
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Plan A: Remain short as long as gold price stays below 1824.2. Targets are 1804.7 and 1796.9.
Plan B: Attempts long only if gold price stays above 1828.1. Targets are 1835.9 and 1843.8.
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