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 ended sharply lower on Friday after a steeper-than-expected rise in May consumer prices fueled fears of more aggressive interest rate hikes by the Federal Reserve.
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Plan A: Remain short as long as market trades below 32031. Targets are 31250 and 30859.
Plan B: Consider long if market stays above 32031. Targets are 32227 and 32422.
E-Mini S&P 500Stocks dropped sharply on Friday after a highly anticipated inflation report showed a faster-than-expected rise in prices and consumer sentiment hit a record low.
The S&P 500 fell 2.91% to settle at 3,900.86.
The May consumer price index report came in at its highest level since 1981, putting pressure on the stock market. The report showed prices rising 8.6% year over year, and 6% when excluding food and energy prices. Economists surveyed by Dow Jones were expecting year-over-year increases of 8.3% for the main index and 5.9% for the core index.
The hot inflation readings have flamed concerns about a potential recession for the U.S. economy among investors and the general public. The preliminary June reading for the University of Michigan consumer sentiment index came in well below expectations, hitting a record low.
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Stocks dropped sharply on Friday after a highly anticipated inflation report showed a faster-than-expected rise in prices and consumer sentiment hit a record low.
The S&P 500 fell 2.91% to settle at 3,900.86.
The May consumer price index report came in at its highest level since 1981, putting pressure on the stock market. The report showed prices rising 8.6% year over year, and 6% when excluding food and energy prices. Economists surveyed by Dow Jones were expecting year-over-year increases of 8.3% for the main index and 5.9% for the core index.
The hot inflation readings have flamed concerns about a potential recession for the U.S. economy among investors and the general public. The preliminary June reading for the University of Michigan consumer sentiment index came in well below expectations, hitting a record low.
The S&P 500 fell 2.91% to settle at 3,900.86.
The May consumer price index report came in at its highest level since 1981, putting pressure on the stock market. The report showed prices rising 8.6% year over year, and 6% when excluding food and energy prices. Economists surveyed by Dow Jones were expecting year-over-year increases of 8.3% for the main index and 5.9% for the core index.
The hot inflation readings have flamed concerns about a potential recession for the U.S. economy among investors and the general public. The preliminary June reading for the University of Michigan consumer sentiment index came in well below expectations, hitting a record low.
To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your May subscription.
Plan A: Short if market failed to support above 3843. Targets are 3859 and 3862.
Plan B: Long only if market supported firm above 3843. Targets are 3835 and 3829.
E-Mini Nasdaq
U.S. stock futures fell early Monday morning as Wall Street struggles to recover from one of its worst weeks of 2022.
The Nasdaq Composite sank 3.52% to 11,340.02.
That data comes ahead of a highly anticipated Federal Reserve meeting this week, with the central bank expected to announce at least a half-point rate hike on Wednesday. The Fed has already raised rates twice this year, including a 50-basis-point (0.5 percentage point) increase in May in an effort to stave off the recent inflation surge.
Traders appeared to be preparing for a more aggressive Federal Reserve in response to the surge in prices. The 2-year Treasury yield, which is seen as one of the most sensitive to Fed rate hikes, jumped above 3% on Friday to hit its highest level since 2008.
U.S. stock futures fell early Monday morning as Wall Street struggles to recover from one of its worst weeks of 2022.
The Nasdaq Composite sank 3.52% to 11,340.02.
That data comes ahead of a highly anticipated Federal Reserve meeting this week, with the central bank expected to announce at least a half-point rate hike on Wednesday. The Fed has already raised rates twice this year, including a 50-basis-point (0.5 percentage point) increase in May in an effort to stave off the recent inflation surge.
Traders appeared to be preparing for a more aggressive Federal Reserve in response to the surge in prices. The 2-year Treasury yield, which is seen as one of the most sensitive to Fed rate hikes, jumped above 3% on Friday to hit its highest level since 2008.
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Plan A: Short if market failed to support above 11591. Targets are 11567 and 11538.
Plan B: Long if market supported firm above 11591. Targets are 11628 and 11657.
HSI
The Hong Kong Hang Seng Index opened lower, rallied, but still finished off 0.3% as traders weighed softer-than-expected consumer and producer price reports from mainland China. Tech shares gained, but property issues fell back.
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Plan A: Remain short if the market stays below 21563. Targets are 21250 and 20938.
Plan B: Consider long only if the market stays above 21563. Targets are 21719 and 22031.
WTI Crude
Oil prices fell on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures.
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Plan A: Remain short as long as oil price stays below 121.88. Targets are 118.75 and 117.19.
Plan B: Consider long only if oil price stays above 117.19. Targets are 121.88 and 123.44.
Gold
Gold prices bounced back in volatile trading on Friday, as focus turned to economic risks after elevated U.S. inflation readings bolstered bets for aggressive interest rate hikes.
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Plan A: Remain long as long as gold price stays above 1859.4. Targets are 1875 and 1890.6.
Plan B: Attempts short only if gold price stays below 1851.6. Targets are 1843.8 and 1828.1.
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