27 May 2020 Foreign

FUTURESCOIN IS GOING GLOBAL

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

U.S. stock futures surged on Tuesday as business restarts and optimism about a potential coronavirus vaccine helped investors returning from a long weekend to overlook Sino-U.S. tensions. Wall Street’s main indexes have risen sharply from March lows, gaining 3% last week, on hopes of an eventual coronavirus antidote and easing of virus-related curbs.

“The markets are focusing more on healthcare related news getting better and the possibility for a vaccine by the end of the year and the potential for increased economic activity as more and mores states reopen,” said Art Hogan, chief market strategist at National Securities in New York.

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Plan A : Short if market does not breach above 25095. Targets are 25040 and 24985.

Plan B : Cut above 25140.

Plan C : Attempt to long if market tested and rebounds from 25025. Targets are 25070 and 25125.

Plan D : Cut below 24980.

E-Mini S&P 500

Stocks surged on Tuesday, adding to their strong gains from last week, as optimism grew about the re-opening of the economy and a potential coronavirus vaccine.

The S&P 500 rallied 1.2% to 2,991.77 . The index traded above 3,000 for most of the session, but fell back below that level in the final minutes of trading. 

The major averages cut their gains in the final hour of trading after a Bloomberg News report said the U.S. was considering sanctions on Chinese firms and officials over the situation in Hong Kong. That report came after White House National Security Advisor Robert O’Brien said Sunday the U.S. will likely impose sanctions on China if Beijing implements national security law that would give it greater control over autonomous Hong Kong.

The S&P 500 climbed 1.2%, briefly breaching the 3,000 level for the first time since March 5. Many Wall Street analysts believe breaking above this level is a bullish long-term trend. The Nasdaq Composite rose 0.2%.

Nine of eleven S&P 500 sectors were positive in Tuesday’s session, led by banks, which are getting a boost the economy re-opening. Citigroup rose more than 9% and JPMorgan gained 7% after CEO Jamie Dimon said the bank is “very valuable” at current prices. 

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Plan A : Long if market doesn't retrace much but supported firm above 3014.50. Targets are 3038.25, 3055.50 and 3085.75.
Plan B : Short if market failed to support above 3014.50. Targets are 2985.25, 2967.25 and 2947.75.

E-Mini Nasdaq

U.S. stock futures pointed to more gains at Wednesday’s open. Optimism about the re-opening of the economy and a potential coronavirus vaccine offset concerns about rising U.S.-China tensions. 

Dow futures pointed to an implied open more than 300 points. The S&P 500 and Nasdaq futures also implied solid gains at the open. The Nasdaq Composite lagged, rising just 0.2% to 9,340.22 on Tuesday.

A report from Bloomberg News that said the Trump administration is weighing sanctions on Chinese firms and officials over the situation in Hong Kong pushed stocks off their highs in the final hour of trading. President Donald Trump said Tuesday afternoon he would make an announcement about the administration’s response to China’s actions by the end of this week. 

Data released Tuesday showed new home sales in April topped estimates. Sales of new U.S. single-family homes increased by 623,000 last month, beating estimates of 490,000, according to Dow Jones. A measure of consumer confidence jumped to 86.6 this month from 85.7 in April, according to the Conference Board. Economists polled by Dow Jones expected consumer confidence of 82.3 in May. 

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Plan A : Long if market doesn't retrace much and supported firm above 9488.25. Targets are 9519.25, 9550.75 and 9585.75.
Plan B : Short if market failed to support above 9488.25. Targets are 9455.25, 9424.75 and 9390.25.

HSI

Hong Kong shares ended higher on Tuesday, mirroring a broader rally across Asia, as investors welcomed the promise of more stimulus in China and the gradual re-opening of the global economy.

At the close of trade, the Hang Seng index was up 432.42 points or 1.88% at 23,384.66.

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Plan A : Attempt to short if market recovers but does not breach above 23720. Targets are 23645 and 23570. Cut above 23810.

Plan B : Attempt to long if market rebounds from 23588. Targets are 23704 and 23820. Cut below 23500.

WTI Crude

Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up the coronavirus restrictions easing.

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Plan A : Remain buy as long as oil price stays firm above 33.8

Plan B : Exit below 33.3

Plan C : Consider selling if oil price fails to hold above 33.8

Plan D : Cut above 34.3

Gold

Gold fell over 1% on Tuesday as major economies further eased coronavirus-linked restrictions, fuelling hopes for economic recovery and bolstering risk appetite.

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Plan A : Attempt sell if gold price stays below 1709

Plan B : Cut above 1715

Plan C : Consider buying if gold price able to hold firm above 1703

Plan D : Cut below 1700

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.