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 rose on Wednesday as signs of more official stimulus supported hopes of an economic recovery from a coronavirus-led slump, even as six U.S. states saw a record rise in new COVID-19 cases.
Encouraging economic data and trillions of dollars in monetary and fiscal stimulus have propelled a rally in the Wall Street indexes from their late-March trough.
The benchmark Dow now remain about 11% below their respective record closing highs hit in February. However, Federal Reserve Chair Jerome Powell warned on Tuesday that a full recovery is unlikely until the public is confident that the disease in under control, as he testified before U.S. lawmakers.
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Plan A : Short if market breaks below 26035. Targets are 25990 and 25935.
Plan B : Cut above 26080.
Plan C :Long if market tested and rebounds from 25915. Targets are 25960 and 26015.
Plan D : Cut below 25875.
Plan D : Cut below 25875.
E-Mini S&P 500
The Dow dipped by 170.37 points, or 0.7%, to close at 26,119.61. The S&P 500 slipped 0.4% to 3,113.49. The Nasdaq Composite advanced 0.2% to 9,910.53. Tech shares led the Nasdaq to its fourth straight day of gains.
Reuters reported that Beijing canceled several domestic flights to curb the spread of the coronavirus. The report came after news Tuesday that China’s capital city would shut down all its schools amid a resurgence in cases. In the U.S., more than 2.1 million cases have been confirmed, with states such as Arizona and Texas reporting spikes.
Amazon rose 1%, Netflix advanced 2.7% and Alphabet climbed 0.4%. The so-called re-opening trade — featuring stocks such as airlines and retailers — struggled on Wednesday. United Airlines slid 2.4% while Nordstrom dropped 5.5%.
New jobless claims data is set to come out Thursday morning, offering an update on the pace of the labor market’s recovery from the pandemic. Economist polled by Dow Jones expected a total of 1.30 million new filings for the week ending June 13, a decline from 1.54 million from the week prior.
The Dow dipped by 170.37 points, or 0.7%, to close at 26,119.61. The S&P 500 slipped 0.4% to 3,113.49. The Nasdaq Composite advanced 0.2% to 9,910.53. Tech shares led the Nasdaq to its fourth straight day of gains.
Reuters reported that Beijing canceled several domestic flights to curb the spread of the coronavirus. The report came after news Tuesday that China’s capital city would shut down all its schools amid a resurgence in cases. In the U.S., more than 2.1 million cases have been confirmed, with states such as Arizona and Texas reporting spikes.
Amazon rose 1%, Netflix advanced 2.7% and Alphabet climbed 0.4%. The so-called re-opening trade — featuring stocks such as airlines and retailers — struggled on Wednesday. United Airlines slid 2.4% while Nordstrom dropped 5.5%.
New jobless claims data is set to come out Thursday morning, offering an update on the pace of the labor market’s recovery from the pandemic. Economist polled by Dow Jones expected a total of 1.30 million new filings for the week ending June 13, a decline from 1.54 million from the week prior.
Reuters reported that Beijing canceled several domestic flights to curb the spread of the coronavirus. The report came after news Tuesday that China’s capital city would shut down all its schools amid a resurgence in cases. In the U.S., more than 2.1 million cases have been confirmed, with states such as Arizona and Texas reporting spikes.
Amazon rose 1%, Netflix advanced 2.7% and Alphabet climbed 0.4%. The so-called re-opening trade — featuring stocks such as airlines and retailers — struggled on Wednesday. United Airlines slid 2.4% while Nordstrom dropped 5.5%.
New jobless claims data is set to come out Thursday morning, offering an update on the pace of the labor market’s recovery from the pandemic. Economist polled by Dow Jones expected a total of 1.30 million new filings for the week ending June 13, a decline from 1.54 million from the week prior.
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Plan A : Long if market retraced slightly but supported firm above 3089.50. Targets are 3114.25, 3133.25 and 3160.75.
Plan B : Short if market failed to support above 3089.50. Targets are 3064.50, 3039.75 and 3010.25.
Plan A : Long if market retraced slightly but supported firm above 3089.50. Targets are 3114.25, 3133.25 and 3160.75.
Plan B : Short if market failed to support above 3089.50. Targets are 3064.50, 3039.75 and 3010.25.
Plan B : Short if market failed to support above 3089.50. Targets are 3064.50, 3039.75 and 3010.25.
E-Mini Nasdaq
Stock futures dipped in Thursday early morning trade as investors continued to monitor an uptick in new coronavirus cases amid the re-opening economy.
The Dow and the S&P 500 snapped their three-day winning streak on Wednesday as stocks directly linked to a successful re-opening under-performed, including airlines and cruise line operators. The tech-heavy Nasdaq Composite eked out a small gain, lifted by popular growth names such as Amazon and Netflix.
Investors turned more cautious as increase in coronavirus cases cast doubt on a swift economic recovery. Several states in the U.S. are experiencing a resurgence of infections. Arizona reported a record high number of new confirmed cases, while Texas saw an 11% daily spike in hospitalizations for patients with Covid-19 on Wednesday.
While the market remained choppy, major stock averages are set to post solid gains this week after a sharp pullback in the week prior. The 30-stock Dow and the S&P 500 have gained more than 2% each this week so far, while the Nasdaq has risen about 3.3%.
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Plan A : Long if market retraced but supported firm above 9833.25. Targets are 9878.25, 9905.25 and 9940.75.
Plan B : Short if market failed to support above 9833.25. Targets are 9800.25, 9765.50 and 9729.50.
Plan B : Short if market failed to support above 9833.25. Targets are 9800.25, 9765.50 and 9729.50.
HSI
Hong Kong shares ended slightly higher on Wednesday, as investors remained cautious that a resurgence in new coronavirus cases in China and the United States could slow down global economic recovery.
At the close of trade, the Hang Seng index was up 137.32 points, or 0.56%, at 24,481.41.
Hong Kong shares ended slightly higher on Wednesday, as investors remained cautious that a resurgence in new coronavirus cases in China and the United States could slow down global economic recovery.
At the close of trade, the Hang Seng index was up 137.32 points, or 0.56%, at 24,481.41.
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Plan A : Attempt short if market stays below 24211. Targets are 24135 and 24051. Cut above 24295.
Plan B : Attempt to long if market tested and rebounds from 24045. Targets are 24120 and 24205. Cut below 23970.
WTI Crude
Oil prices edged lower on Wednesday as a drawdown in U.S. distillate stockpiles for the first time since March and a sharp drop in U.S. crude production faced concerns over fuel demand due to fresh outbreaks of COVID-19.
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Plan A : Attempt sell if oil price stays below 37.6
Plan B : Cut above 38.2
Plan C : Consider buying if oil price trades firmly above 37.3
Plan D : Cut below 36.3
Gold
Gold prices were little changed on Wednesday, buoyed by concerns over a second coronavirus wave and expectations that the U.S. Federal Reserve would maintain low interest rates in the near term, while a firm dollar put a lid on gains.
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Plan A : Remain buy as long as gold price stays above 1730
Plan B : Exit below 1724
Plan C : Consider selling if gold price fails to hold above 1730
Plan D : Cut above 1737
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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