Sunday, July 26, 2020

27 July 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 index futures fell on Friday following heightened tensions between the United States and China, and as Intel’s shares slumped after reporting a delay in a developing new chip technology.
World stocks also took a hit after Beijing ordered the Washington to close its consulate in the city of Chengdu, responding to a U.S. demand this week that China close its Houston consulate.

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Plan A : Short if market does not breach above 26666. Targets are 26625 and 26575.
Plan B : Cut above 26711.
Plan C : Attempt to long if market holds firm above 26235. Targets are 26280 and 26325.
Plan D : Cut below 26190.



E-Mini S&P 500

The Dow dropped 182.44 points, or 0.68%, to 26,469.89. The S&P 500 slid 0.62% to 3,215.63. The Nasdaq Composite declined by 0.94% to 10,063.18. Stocks fell on Friday, concluding a volatile week.

Facebook shares slid 0.81% on Friday and Alphabet declined by 0.56%. Microsoft, Tesla and Apple also ended the session lower. These stocks also posted weekly losses, which translated into declines for the major averages this week. The S&P 500 slid 0.28% for the week, snapping a three-week winning streak. The Dow fell for the first time in four weeks as well. The Nasdaq fell 1.33% this week, logging in its first back-to-back weekly declines since May.

Uncertainty around the coronavirus and the rising U.S.-China tensions pushed gold prices to an all-time closing high. The precious metal settled at $1,897.50 per ounce.

Hasbro and Albertsons kick off one of the busiest weeks of the earnings season.

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Plan A : Long if market doesn't retrace much and supported firm above 3222.25. Targets are 3245.25, 3267.50 and 3290.75.

Plan B : Short if market failed to support above 3222.25. Targets are 3190.25, 3169.50 and 3145.25.



E-Mini Nasdaq


U.S. stock futures rose on Sunday night as investors braced for a big week of corporate earnings and lawmakers continued coronavirus stimulus negotiations.

Dow Jones Industrial Average futures traded 43 points higher, or 0.2%. S&P 500 futures gained 0.1% along with Nasdaq 100 futures.

McDonald’s, Pfizer, Alphabet, Apple and AMD are among the companies slated to release their latest quarterly figures this week.

Through Friday’s close 128 S&P 500 companies had reported earnings, with 81% beating analyst expectations, according to Refinitiv. However, overall S&P 500 earnings have fallen more than 40% from the year-earlier period as the coronavirus pandemic takes a big bite out of corporate profits.

Traders also turned their eyes to Washington as lawmakers tried to push forward on another coronavirus stimulus package.

On Sunday, Treasury Secretary Steven Mnuchin said Republicans had finalized a bill for about $1 trillion in coronavirus relief funds. Mnuchin added he hopes the proposal can find bipartisan support.

However, Jefferies Chief Economist Aneta Markowska warned there “is still a wide gap between the GOP and Democrats, especially on unemployment benefits and state and local gov’t aid. Closing the gap will probably take more than a week, which means that an agreement is unlikely to be reached before July 31.”

White House economic advisor Larry Kudlow shed some light on some of the measures included in the GOP proposal, noting: “There's a $1,200 check coming, that’s going to be part of the new package.”

Wall Street was coming off a losing week as shares of major tech companies struggled and U.S.-China tensions rose. The Dow and S&P 500 each snapped a three-week winning streak. The Nasdaq, meanwhile, posted its first back-to-back weekly losses since May.

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Plan A : Long if market doesn't retrace much and supported firm above 10553.25. Targets are 10580.25, 10610.25 and 10650.75.
Plan B : Short if market failed to support above 10553.25. Targets are 10519.25, 10460.25 and 10421.50.


HSI

Hong Kong stocks fell on Friday to close the week lower as escalating tensions between China and the United States assuaged optimism about a swift post-pandemic economic rebound.

At the close of trade, the Hang Seng index was down 557.67 points or 2.21% at 24,705.33.

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Plan A : Attempt short if market does not breach above 25015. Targets are 24940 and 24855. Cut above 25090.

Plan B : Attempt long if market does not breaks below 24478. Targets are 24555 and 24638. Cut below 24405.




WTI Crude

Oil prices moved slightly higher on Friday supported by economic data from Europe, but gains were limited as tensions between the United States and China flared.

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Plan A : Attempt sell if oil price trades below 41.6
Plan B : Cut above 42.4
Plan C : Consider buying if oil price test and rebound from 40.7
Plan D : Cut below 39.9



Gold

Gold prices rose to an all-time high Friday as investors sought safety in the precious metal amid rising U.S.-China tensions and lingering fears over the coronavirus pandemic.

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Plan A : Remain buy as long as gold price stays above 1906
Plan B : Exit below 1899
Plan C : Consider selling if gold price falls below 1906
Plan D : Cut above 1915


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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