26 June 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 fell further on Thursday following Wall Street’s worst day in two weeks, as risk appetite took a hit from an alarming rise in new coronavirus cases and on expectations of elevated weekly jobless claims.

The resurgence in virus cases across the United States has revived fears of another lockdown to contain the pandemic and threatened to halt a Wall Street rally that was powered by a raft global stimulus since late March.

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Plan A : Short if market does not breach above 25798. Targets are 25753 and 25698.

Plan B : Cut above 25845.

Plan C :Long if market tested and rebounds from 25504. Targets are 25545 and 25605.

Plan D : Cut below 25459.

E-Mini S&P 500

The Dow gained 299.66 points, or 1.18%, to close at 25,745.60. The S&P 500 climbed 1.10% to 3,083.76. The Nasdaq Composite advanced by 1.09% to 10,017.00. Another increase in coronavirus cases and news of easier banking regulation left the market struggling for direction throughout Thursday’s session.

Florida reported on Thursday 5,004 additional coronavirus cases. That’s slightly down from the state’s single-day record of 5,508, which was reported Wednesday. In Arizona, cases jumped by 5.1%, topping the state’s seven-day average of 2.3%. Meanwhile, Texas Gov. Greg Abbott said the state would pause its re-opening plans given the recent spike in cases and hospitalizations. This recent uptick comes after the U.S. suffered its single-biggest daily coronavirus cases surge on record. Concerns over the the coronavirus pushed the Dow down more than 200 points earlier in the day. Stocks recovered to close higher in the final hour of trading. 

Bank shares rose broadly after the Federal Deposit Insurance Commission said it would allow banks to more easily make large investments into funds such as venture capital funds. JPMorgan Chase rose 3.49% and Bank of America advanced 3.82%. Citigroup advanced 3.68%.

Personal income data and consumer sentiment numbers are set for release Friday.

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Plan A : Long if market supported firm above 3065.50. Targets are 3088.25, 3112.50 and 3129.50.
Plan B : Short if market failed to support above 3065.50. Targets are 3040.25, 3019.25 and 3000.75.

E-Mini Nasdaq

U.S. stock futures were lower in early morning trade on Friday following the release of the Fed’s latest bank stress-test results and disappointing quarterly numbers out of Nike.

Dow Jones Industrial Average futures were down 173 points, while S&P 500 and Nasdaq-100 futures also traded in negative territory.

The moves came after the Fed’s annual stress test of the major banks showed some banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic. Because of this, banks must suspend share re-purchase programs and keep dividend payments at current levels for the third quarter.

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Plan A : Long if market supported firm above 10069.50. Targets are 10098.25, 10130.25 and 10161.50.
Plan B : Short if market failed to support above 10069.50. Targets are 10035.25, 10000.75 and 9965.25.

HSI

Hong Kong stocks fell on Wednesday, weighed down by energy companies, while signs of an increase in coronavirus cases added to the pressure.

At the close of trade, the Hang Seng index was down 125.76 points or 0.5%, at 24,781.58.

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Plan A : Attempt short if market fails to breach above 24954. Targets are 24875 and 24795. Cut above 25030.

Plan B : Attempt to long if market trades firmly above 24738. Targets are 24815 and 24898. Cut below 24663.

WTI Crude

Oil prices rose about 2% in a volatile session on Thursday, buoyed by signs of a marginal improvement in the U.S. economy and a tepid rise in fuel demand, but price gains were limited by rising cases of COVID-19 in some U.S. states.

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Plan A : Attempt sell if oil price fails to breach above 39.2

Plan B : Cut above 40.4

Plan C : Consider buying if oil price trades firmly above 39.2

Plan D : Cut below 38.1

Gold

Gold prices drifted sideways on Thursday as a surge in coronavirus cases and mounting economic tolls kept investors on edge, though the metal stepped back from last session's more than 7.5 year high.

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Plan A : Attempt buy if gold price trades firmly above 1769.9

Plan B : Cut below 1764

Plan C : Consider selling if gold price falls below 1769.9

Plan D : Cut above 1777.5

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.