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
The Dow futures ticked lower on Wednesday as investors stayed on the sidelines ahead of the Federal Reserve meeting that could shed further light on the central bank’s view of the economy as it emerges from lockdowns.
Fed policymakers will publish their first economic projections since the coronavirus pandemic set off a recession in February that ended a decade-long expansion. Investors will also look for any hints on yield curve control measures amid a recent surge in U.S. Treasury yields.
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Plan A : Short if market fails to surge above 27145. Targets are 27100 and 27045.
Plan B : Cut above 27190.
Plan C :Long if market tested and rebounds from 26641. Targets are 26686 and 26740.
Plan D : Cut below 26595.
Plan D : Cut below 26595.
E-Mini S&P 500
The Dow dropped 282 points, or 1.04%, to 26,989.99, and the S&P 500 fell 0.53% to 3,190.14 at the close. The Nasdaq Composite continued to find its way higher, advancing 0.67% to a record close of 10,020.35.
S&P 500 is down 1.26% year to date and is 5.99% below its intraday record high from Feb. 19. 10 out of 11 sectors were negative Wednesday led by Energy down 4.92% for its worst day since May 1.
Bank stocks tumbled in afternoon trading as Federal Reserve Chairman Jay Powell said that the central bank remains committed to keeping rates near zero for two years.
The Financial Select Sector SPDR Fund slid more than 3%. Shares of Wells Fargo dropped more than 8%, while Citigroup and Bank of America each posted a loss of 5%. JPMorgan traded 3.5% lower, with Morgan Stanley and Goldman Sachs also in the red. Banks typically benefit when rates are higher since it widens the spread between how much they pay to borrow compared with their profits from loans. —Pound
Investors are awaiting the new jobless claim data for the week ending June 6, which is set to come out at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones expect filings for unemployment insurance claims to total 1.595 million last week, which is down from 1.775 million in the week before.
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Plan A : Long if market supported firm above 3146.25. Targets are 3171.50, 3189.75 and 3210.50.
Plan B : Short if market failed to support above 3146.25. Targets are 3119.25, 3099.25 and 3075.50.
Plan B : Short if market failed to support above 3146.25. Targets are 3119.25, 3099.25 and 3075.50.
E-Mini Nasdaq
The Nasdaq closed above 10,000 for the first time ever, but the Dow and the S&P 500 fell for the second consecutive day. The Dow closed down 282 points, or 1%, while the S&P 500 dipped 0.5% and the Nasdaq rose 0.7%. —Pound
Nasdaq closed up 0.67% for its eighth positive day in nine at a new record.This was the Nasdaq’s first close above 10K, after hitting a new intraday all-time high of 10,086.89. Nasdaq is up 11.68% year to date and up 51.1% from its March 23 low.
Nasdaq 100 biggest point impact: Microsoft, Apple, Amazon, Tesla all with double-digit point contributions and all hitting new intraday all-time highs.
Stock futures fell in early morning trading on Thursday as investors evaluate the pace of economic recovery and the coronavirus developments.
Futures on the Dow fell 578 points, implying a Thursday opening drop of around 592 points. S&P 500 and the Nasdaq 100 futures also pointed to sizable losses at the Thursday open for the two indexes.
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Plan A : Short if market failed to support above 9984.25. Targets are 9948.25, 9915.50 and 9889.25.
Plan B : Long if market supported firm above 9984.25. Targets are 10012.25, 10047.50 and 10071.75.
HSI
Hong Kong shares closed little changed on Wednesday as risk sentiment was hit by a deepened deflation in China’s producer prices, and investors waited for the U.S. Federal Reserve’s economic projections.
At the close of trade, the Hang Seng index was down 7.49 points, or 0.03%, at 25,049.73.
Hong Kong shares closed little changed on Wednesday as risk sentiment was hit by a deepened deflation in China’s producer prices, and investors waited for the U.S. Federal Reserve’s economic projections.
At the close of trade, the Hang Seng index was down 7.49 points, or 0.03%, at 25,049.73.
At the close of trade, the Hang Seng index was down 7.49 points, or 0.03%, at 25,049.73.
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Plan A : Attempt short if market breaks below 24975. Targets are 24905 and 24820. Cut above 25050.
Plan B : Attempt to long if market tested and rebounds from 24813. Targets are 24888 and 24975. Cut below 24735.
WTI Crude
Oil recovered its earlier losses on Wednesday, even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand.
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Plan A : Remain buy as long as oil price stays above 38.4
Plan B : Exit below 37.7
Plan C : Consider sell if oil price fails to hold above 38.4
Plan D : Cut above 39.1
Gold
Gold rose nearly 1% to a one-week high on Wednesday after the U.S. Federal Reserve held onto its pledge to ease the economic pain from the coronavirus pandemic, boosting bullion's safe-haven appeal.
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Plan A : Remain buy as long as gold price stays firm above 1709
Plan B : Exit below 1700
Plan C : Consider sell if gold price fails to hold above 1709
Plan D : Cut above 1717
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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