FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Attempt long if market trades firmly above 27824. Targets are 27933 and 28070.Plan B : Cut below 27710.Plan C : Attempt short if market fails to hold above 27824. Targets are 27630 and 27590.Plan D : Cut above 27910.
E-Mini S&P 500
The Dow rallied 289.93 points, or 1.1%, to close at 27,976.84. The S&P 500 gained 1.4% to close at 3,380.35. The Nasdaq Composite outperformed, surging 2.1% to 11,012.24. Shares of the major tech companies rebounded from Tuesday’s sell-off, putting the S&P 500 back within striking distance of its all-time high.
The S&P 500 closed less than half a percent below its intraday record of 3,393.52. It also traded above its record closing high on Wednesday before falling just short. However, Wall Street is still grappling with massive uncertainty out Washington regarding a new coronavirus stimulus package. On Wednesday, House Speaker Nancy Pelosi said both sides were still “miles apart" on relief negotiations.
Facebook, Netflix and Alphabet all rose more than 1%. Amazon advanced 2.7% and Microsoft gained 2.9%. Apple advanced 3.3%. Shares of companies that would benefit from the economy reopening struggled. Cruise operator Carnival fell by 4% while bank stocks closed broadly lower.
Weekly jobless claims data along with import price numbers are set for release Thursday.
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Plan A : Short if market failed to support above 3340.50. Targets are 3312.25, 3288.50 and 3261.25.
Plan B : Long if market retraced but supported firm above 3340.50. Targets are 3359.25, 3382.50 and 3401.50.
E-Mini NasdaqFutures contracts tied to the major U.S. stock indexes edged lower on Wednesday night, hours after the S&P 500 flirted with — but fell just short of — a new record close.
The after-hours moves Wednesday evening followed a rally during the regular session, with the major indexes climbing amid a rebound in Big Tech, strength from health care and gains in discretionary equities.
Household consumer tech names Facebook, Apple and Amazon rallied 1.4%, 3.3% and 2.6% during Wednesday’s regular trading while Netflix and Microsoft added 1.8% and 2.8%, respectively.
Investors continue to keep a watchful eye on Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses. Though Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi both said this week that the two sides are far away from an agreement, many investors believe a deal is inevitable.
The latest iteration of the Labor Department report on weekly jobless claims will be released Thursday morning. The weekly figures provide Wall Street with critical insight on how many Americans continue to collect unemployment benefits, known as continuing claims.
Another 1.1 million workers are expected to have filed first-time claims for state unemployment benefits during the week ended August 8. That would mark a deceleration from the prior week, though still well above any reading prior to the pre-Covid era.
Futures contracts tied to the major U.S. stock indexes edged lower on Wednesday night, hours after the S&P 500 flirted with — but fell just short of — a new record close.
The after-hours moves Wednesday evening followed a rally during the regular session, with the major indexes climbing amid a rebound in Big Tech, strength from health care and gains in discretionary equities.
Household consumer tech names Facebook, Apple and Amazon rallied 1.4%, 3.3% and 2.6% during Wednesday’s regular trading while Netflix and Microsoft added 1.8% and 2.8%, respectively.
Investors continue to keep a watchful eye on Washington, where the nation’s top lawmakers continue to haggle over a new coronavirus-relief package for American households and businesses. Though Senate Majority Leader Mitch McConnell and House Speaker Nancy Pelosi both said this week that the two sides are far away from an agreement, many investors believe a deal is inevitable.
The latest iteration of the Labor Department report on weekly jobless claims will be released Thursday morning. The weekly figures provide Wall Street with critical insight on how many Americans continue to collect unemployment benefits, known as continuing claims.
Another 1.1 million workers are expected to have filed first-time claims for state unemployment benefits during the week ended August 8. That would mark a deceleration from the prior week, though still well above any reading prior to the pre-Covid era.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for August subscription.
Plan A : Long if market supported firm above 10958.25. Targets are 10987.25, 11019.25 and 11048.50.
Plan B : Short if market failed to support above 10958.25. Targets are 10915.50, 10870.25 and 10828.75.
HSI
Hong Kong shares touched a near three-week high on Wednesday, led by a rebound in heavyweight financial stocks, and as a regional sell-off in equities ran out of steam towards the end of the trading session.
Plan A : Long if market supported firm above 10958.25. Targets are 10987.25, 11019.25 and 11048.50.
Plan B : Short if market failed to support above 10958.25. Targets are 10915.50, 10870.25 and 10828.75.
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