FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
E-Mini Dow
U.S. stock index futures fell on Thursday as growing trade tensions with China added to worries about the pace of a recovery from a coronavirus-fueled economic slump even with several countries easing lockdowns. Simmering tensions between the world’s two biggest economies over the origin of the novel coronavirus have slowed a Wall Street rally this month.
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Plan A : Short if market does not breach above 24533. Targets are 24488 and 24444.
Plan B : Cut above 24578.
Plan C : Attempt to long if market sustain firmly above 24500. Targets are 24545 and 24600.
Plan D : Cut below 24455.
Plan D : Cut below 24455.
E-Mini S&P 500
The Dow slid 101.78 points, or 0.41%, to close at 24,474.12. The S&P 500 dipped 0.78% to 2,948.51. The Nasdaq Composite fell 0.97% to close at 9,284.88. Stocks gave back some of their strong weekly gains amid dismal unemployment data and rising U.S.-China trade tensions.
The S&P 500 has skyrocketed more than 34% since hitting an intraday low on March 23, led in part by strong gains from major tech stocks.
The major averages remained on pace for solid weekly gains. The Dow was up more than 3% week to date. The 30-stock Dow was headed for its biggest one-week gain since the week of April 9. The S&P 500 has gained 2.96% this week while the Nasdaq Composite is up 3% in that time.
The Labor Department reported Thursday another 2.4 million people filed for unemployment benefits last week. Thursday’s report brings the total number of filings during the pandemic to more than 38 million. The number of continuing claims was at 25.07 million, its highest level on record.
Amazon shares closed lower by 2.05% after hitting an intraday record earlier in the session. Intel led the Dow lower with a 1.77% decline.
Investors will watch out for any new developments on the coronavirus and trade relations between the U.S. and China.
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Plan A : Long if market doesn't retrace much and supported firm above 2904.25. Targets are 2930.75, 2946.50 and 2968.75.
Plan B : Short if market doesn't rebound much and failed to support above 2904.25. Targets are 2877.25, 2859.25 and 2841.75.
Plan B : Short if market doesn't rebound much and failed to support above 2904.25. Targets are 2877.25, 2859.25 and 2841.75.
E-Mini Nasdaq
U.S. stock futures fell early Friday morning after a decline in some major tech stocks, along with dismal employment data and rising tensions with China, pushed the market lower during regular trading.
Dow Jones Industrial Average futures declined 213 points, implying a Friday opening drop of about 252 points. S&P 500 and Nasdaq 100 futures also pointed to a negative open for the two indexes on Friday.
Weekly jobless claims rose by another 2.4 million last week, according to data released by the U.S. Labor Department. That brings the total number of filings during the pandemic to more than 38 million. Continuing claims are also at a record.
Investors also fretted over U.S.-China trade relations. Earlier in the week, the Senate passed a bill that would potentially delist Chinese stocks from U.S. exchanges.
Ed Mills, Washington policy analyst at Raymond James, said the bill is moving at “warp speed,” noting: “We believe there will be a significant push for the legislation to be taken up in the coming weeks, and we believe it is only a matter of time before this bill (or something similar) is signed into law.”
Those weekly advances come amid optimism around the global economy reopening as well as rising hopes for a coronavirus vaccine.
U.S. stock futures fell early Friday morning after a decline in some major tech stocks, along with dismal employment data and rising tensions with China, pushed the market lower during regular trading.
Dow Jones Industrial Average futures declined 213 points, implying a Friday opening drop of about 252 points. S&P 500 and Nasdaq 100 futures also pointed to a negative open for the two indexes on Friday.
Weekly jobless claims rose by another 2.4 million last week, according to data released by the U.S. Labor Department. That brings the total number of filings during the pandemic to more than 38 million. Continuing claims are also at a record.
Investors also fretted over U.S.-China trade relations. Earlier in the week, the Senate passed a bill that would potentially delist Chinese stocks from U.S. exchanges.
Ed Mills, Washington policy analyst at Raymond James, said the bill is moving at “warp speed,” noting: “We believe there will be a significant push for the legislation to be taken up in the coming weeks, and we believe it is only a matter of time before this bill (or something similar) is signed into law.”
Those weekly advances come amid optimism around the global economy reopening as well as rising hopes for a coronavirus vaccine.
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Plan A : Long if market doesn't retrace much and supported firm above 9297.50. Targets are 9325.50, 9359.75 and 9390.75.
Plan B : Short if market doesn't rebound much and failed to support above 9297.50. Targets are 9267.50, 9230.25 and 9202.75.
Plan A : Long if market doesn't retrace much and supported firm above 9297.50. Targets are 9325.50, 9359.75 and 9390.75.
Plan B : Short if market doesn't rebound much and failed to support above 9297.50. Targets are 9267.50, 9230.25 and 9202.75.
Plan B : Short if market doesn't rebound much and failed to support above 9297.50. Targets are 9267.50, 9230.25 and 9202.75.
HSI
Hong Kong stocks slipped on Thursday, dragged down by technology shares, after U.S. officials said regulators were open to making changes to close a possible loophole in a new rule aimed at curbing global chip sales to Chinese firm Huawei Technologies.
At the close of trade, the Hang Seng index was down 119.92 points or 0.49%, at 24,280.03.
HSI
Hong Kong stocks slipped on Thursday, dragged down by technology shares, after U.S. officials said regulators were open to making changes to close a possible loophole in a new rule aimed at curbing global chip sales to Chinese firm Huawei Technologies.
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Plan A : Attempt to short if market falls below 24065. Targets are 23975 and 23885. Cut above 24140.
Plan B : Attempt to long if market tested and rebounds from 24060. Targets are 24145 and 24240. Cut below 23975.
WTI Crude
Oil prices rose to the highest level since March on Thursday, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions imposed on people's movements due to the coronavirus crisis.
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Plan A : Remain buy as long as oil price stays firm above 33.3
Plan B : Exit below 33.0
Plan C : Consider selling if oil price couldn't breach and holds firm above 33.8
Plan D : Cut above 34.7
Gold
Gold fell more than 1% on Thursday as investors booked profits from recent rallies and some switched to the safety of cash driven by growing U.S-China trade tensions and doubts about an economic recovery.
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Plan A : Attempt buy only if gold price retraces but holds firm above 1715
Plan B : Cut below 1709
Plan C : Consider selling if gold price stays below 1729
Plan D : Cut above 1734
Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.
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