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 Thursday as investors awaited the crucial jobs report for further evidence of an economic rebound in June, although a record surge in daily COVID-19 cases kept gains in check. Optimism about a post-pandemic rebound in business activity, aggressive U.S. stimulus and hopes of a COVID-19 vaccine have fueled a Wall Street rally since April.
After recent data showed U.S. manufacturing in June hit its highest level in more than a year, the Labor Department’s monthly employment report due later in the day is expected to show record job growth last month, signaling that a COVID-19-driven recession was probably over.
But with several states scaling back or pausing reopenings to tackle a recent surge in coronavirus infections, analysts have warned of another selloff in financial markets if the damage to Corporate America mounts.
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Plan A : Short if market does not breach above 25840. Targets are 25795 and 25750.
Plan B : Cut above 25880.
Plan C : Long if market supported firmly above 25723. Targets are 25765 and 25810.
Plan D : Cut below 25678.
E-Mini S&P 500
The Dow gained 92.39 points, or 0.36%, to close at 25,827.36. The S&P 500 climbed 0.45% to 3,130.01. The Nasdaq Composite rose 0.52% to 10,207.63. A massive spike in U.S. jobs creation sparked a rally on Wall Street to end the holiday shortened week.
Wall Street started the session with sharp gains after the government reported that a record 4.8 million jobs were created in June. Economists were expecting 2.9 million jobs were created. The unemployment rate fell to 11.1% from 13.3% in May. Economists were expecting a rate of 12.4%, according to Dow Jones. “What we’ve seen in May and June is a blueprint for a fast recovery, but only once the virus situation is under control,” said one economist
Boeing shares rose 0.27% after the company said it completed FAA recertification flights for its 737 Max jet. Cruise operators fell, however, after a record spike of cases in Florida. Carnival gained 2.93%; Norwegian Cruise Line and Royal Caribbean advanced 2.74% and 2.60%, respectively.
In the coming weeks, market participants will train their focus on second-quarter reporting season. In aggregate, analysts now expect S&P earnings to have dropped by 43.1% as companies grappled with plunging demand and disrupted supply chains.
The ISM non-manufacturing index is set for release Monday morning.
E-Mini S&P 500
The Dow gained 92.39 points, or 0.36%, to close at 25,827.36. The S&P 500 climbed 0.45% to 3,130.01. The Nasdaq Composite rose 0.52% to 10,207.63. A massive spike in U.S. jobs creation sparked a rally on Wall Street to end the holiday shortened week.
Wall Street started the session with sharp gains after the government reported that a record 4.8 million jobs were created in June. Economists were expecting 2.9 million jobs were created. The unemployment rate fell to 11.1% from 13.3% in May. Economists were expecting a rate of 12.4%, according to Dow Jones. “What we’ve seen in May and June is a blueprint for a fast recovery, but only once the virus situation is under control,” said one economist
Boeing shares rose 0.27% after the company said it completed FAA recertification flights for its 737 Max jet. Cruise operators fell, however, after a record spike of cases in Florida. Carnival gained 2.93%; Norwegian Cruise Line and Royal Caribbean advanced 2.74% and 2.60%, respectively.
In the coming weeks, market participants will train their focus on second-quarter reporting season. In aggregate, analysts now expect S&P earnings to have dropped by 43.1% as companies grappled with plunging demand and disrupted supply chains.
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Plan A : Long if market doesn't retrace much and supported firm above 3132.25. Targets are 3151.25, 3175.25 and 3191.50.
Plan B : Short if market failed to support above 3132.25. Targets are 3108.25, 3088.75 and 3069.75.
E-Mini Nasdaq
Wall Street closed higher and the Nasdaq reached an all-time closing high on Thursday as investors headed into their long holiday weekend buoyed by a record surge in payrolls, which provided assurance that the U.S. economic recovery was well under way.
All three major U.S. stock averages advanced, with the benchmark S&P 500 posting its fourth straight daily gain.
Massive stimulus and hopes for a speedy economic rebound have returned the S&P 500 and the Dow to 7.6% and 12.6% below their record highs reached in February.
The indexes registered strong gains for the week.
The U.S. economy added 4.8 million jobs in June according to the Labor Department, 1.8 million more than analysts expected, setting a second consecutive record. Massive rehiring sent the unemployment rate down to 11.1%.
Advancing issues outnumbered declining ones on the NYSE by a 1.90-to-1 ratio; on the Nasdaq, a 1.28-to-1 ratio favored advancers.
The S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 123 new highs and 10 new lows.
Volume on U.S. exchanges was 10.03 billion shares, compared with the 13.24 billion average over the last 20 trading days.
Plan A : Long if market doesn't retrace much and supported firm above 3132.25. Targets are 3151.25, 3175.25 and 3191.50.
Plan B : Short if market failed to support above 3132.25. Targets are 3108.25, 3088.75 and 3069.75.
E-Mini Nasdaq
All three major U.S. stock averages advanced, with the benchmark S&P 500 posting its fourth straight daily gain.
Massive stimulus and hopes for a speedy economic rebound have returned the S&P 500 and the Dow to 7.6% and 12.6% below their record highs reached in February.
The indexes registered strong gains for the week.
The U.S. economy added 4.8 million jobs in June according to the Labor Department, 1.8 million more than analysts expected, setting a second consecutive record. Massive rehiring sent the unemployment rate down to 11.1%.
Advancing issues outnumbered declining ones on the NYSE by a 1.90-to-1 ratio; on the Nasdaq, a 1.28-to-1 ratio favored advancers.
The S&P 500 posted 36 new 52-week highs and no new lows; the Nasdaq Composite recorded 123 new highs and 10 new lows.
Volume on U.S. exchanges was 10.03 billion shares, compared with the 13.24 billion average over the last 20 trading days.To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for July subscription.
Plan A : Short if market failed to support above 10352.25. Targets are 10322.25, 10295.25 and 10259.25.
Plan B : Long if market retraced but support firm above 10352.25. Targets are 10378.25, 10410.25 and 10440.50.
Plan A : Short if market failed to support above 10352.25. Targets are 10322.25, 10295.25 and 10259.25.
Plan B : Long if market retraced but support firm above 10352.25. Targets are 10378.25, 10410.25 and 10440.50.
HSI
Hong Kong stocks posted strong gains on Thursday, with the index tracking mainland stocks having its best day in more than three months, after a security law went into effect in the city this week.
The Hang Seng index rose 2.9%, to 25,124.19.
HSI
Hong Kong stocks posted strong gains on Thursday, with the index tracking mainland stocks having its best day in more than three months, after a security law went into effect in the city this week.
The Hang Seng index rose 2.9%, to 25,124.19.
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Plan A : Attempt short if market falls below 25010. Targets are 24935 and 24850. Cut above 25095.
Plan B : Continue to long if market holds firm above 25015. Targets are 25090 and 25175. Cut below 24940.
WTI Crude
Oil prices rose on Thursday after data showed a fall in U.S. unemployment and a sharp drop in crude stockpiles, although concerns that a spike in U.S. coronavirus infections could stall a recovery in fuel demand kept gains in check.
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Plan A : Remain buy as long as oil price stays firm above 39.9
Plan B : Exit below 39.4
Plan C : Consider selling if oil price surges but fails to breach above 40.7
Plan D : Cut above 41.6
Gold
Gold reversed course and edged higher on Thursday as the dollar eased, though the metal traded below an eight-year peak hit in the last session as prospects for economic recovery accelerated after data showed the U.S. economy created record jobs in June.
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Plan A : Remain buy as long as gold price stays firm above 1769.9
Plan B : Exit below 1766
Plan C : Consider selling if gold price surges but fails to breach above 1791
Plan D : Cut above 1801
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