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 sell if market trades below 28492. Targets are 28319 and 28180.
Plan B : Consider buy only if market able to support well above 28319. Targets are 28492 and 28569.
E-Mini S&P 500
The S&P 500 posted a nominal gain on Friday as further clarity regarding the timeline for the development of a coronavirus vaccine and much better-than-expected retail sales data brought buyers back to the market.
The Dow Jones Industrial Average rose 112.11 points, or 0.39%, to 28,606.31, the S&P 500 gained 0.47 points, or 0.01%, to 3,483.81 and the Nasdaq Composite dropped 42.32 points, or 0.36%, to 11,671.56.
Of the 11 major sectors in the S&P 500, seven ended the session in the black. While utilities had the largest percentage gain, energy suffered the biggest loss.
Third-quarter reporting season burst from the starting gate this week, with 49 of the companies in the S&P 500 having reported. Of those, 86% have cleared the low bar set by expectations, according to Refinitiv.
Retail sales in September blew past analyst expectations and consumer sentiment for the current month surprised to the upside, according to two separate economic reports. But with previous stimulus having run its course, the outlook is uncertain unless Washington can reach an agreement on a fresh round of fiscal aid.
The S&P 500 posted a nominal gain on Friday as further clarity regarding the timeline for the development of a coronavirus vaccine and much better-than-expected retail sales data brought buyers back to the market.
The Dow Jones Industrial Average rose 112.11 points, or 0.39%, to 28,606.31, the S&P 500 gained 0.47 points, or 0.01%, to 3,483.81 and the Nasdaq Composite dropped 42.32 points, or 0.36%, to 11,671.56.
Of the 11 major sectors in the S&P 500, seven ended the session in the black. While utilities had the largest percentage gain, energy suffered the biggest loss.
Third-quarter reporting season burst from the starting gate this week, with 49 of the companies in the S&P 500 having reported. Of those, 86% have cleared the low bar set by expectations, according to Refinitiv.
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Plan A : Long if market doesn't retrace much and supported firm above 3467. Targets are 3480, 3495 and 3512.
Plan B : Short if market failed to support above 3467. Targets are 3443, 3419 and 3390.
E-Mini Nasdaq
U.S. stock futures rose early Monday morning as the number of newly confirmed coronavirus cases continues to rise while lawmakers remain at an impasse over a new stimulus deal.
A CNBC analysis of Johns Hopkins University data showed Covid-19 cases were growing by 5% or more in 38 states as of Friday. Nationwide, the daily case average has risen by more than 16% on a week-over-week basis to nearly 55,000. New coronavirus infections in Europe are rising by about 97,000 per day, up 44% from the prior week.
In Washington, House Speaker Nancy Pelosi’s office said Saturday evening that she is giving the Trump administration 48 hours to reach an aid deal before the Nov. 3 election. Pelosi and Treasury Secretary Steven Mnuchin continued their discussions over the weekend. They agreed to speak again Monday.
Pelosi’s comments came as hope among market experts for a deal being reached ahead of the election dwindles. This, along with the apparent new wave in coronavirus infections, contributed to a choppy trading action last week.
The S&P 500 and Dow fell for three straight days last week before closing slightly higher on Friday. The Nasdaq Composite posted its first four-day losing streak since September.
On the earnings front, IBM is slated to release its latest quarterly results after the bell on Monday. Meanwhile, Federal Reserve Chairman Jerome Powell is scheduled to speak Monday morning.
E-Mini Nasdaq
U.S. stock futures rose early Monday morning as the number of newly confirmed coronavirus cases continues to rise while lawmakers remain at an impasse over a new stimulus deal.
A CNBC analysis of Johns Hopkins University data showed Covid-19 cases were growing by 5% or more in 38 states as of Friday. Nationwide, the daily case average has risen by more than 16% on a week-over-week basis to nearly 55,000. New coronavirus infections in Europe are rising by about 97,000 per day, up 44% from the prior week.
In Washington, House Speaker Nancy Pelosi’s office said Saturday evening that she is giving the Trump administration 48 hours to reach an aid deal before the Nov. 3 election. Pelosi and Treasury Secretary Steven Mnuchin continued their discussions over the weekend. They agreed to speak again Monday.
Pelosi’s comments came as hope among market experts for a deal being reached ahead of the election dwindles. This, along with the apparent new wave in coronavirus infections, contributed to a choppy trading action last week.
The S&P 500 and Dow fell for three straight days last week before closing slightly higher on Friday. The Nasdaq Composite posted its first four-day losing streak since September.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for October subscription.
Plan A : Long if market doesn't retrace much and supported firm above 11907. Targets are 11935, 11964 and 11991.
Plan B : Short if market failed to support above 11907. Targets are 11867, 11827 and 11787.
HSI
Hong Kong stocks ended higher on Friday to post their third weekly gain in a row, as investors cheered fresh policy support and upbeat data that pointed to China's economic recovery from the coronavirus crisis.
Plan A : Long if market doesn't retrace much and supported firm above 11907. Targets are 11935, 11964 and 11991.
Plan B : Short if market failed to support above 11907. Targets are 11867, 11827 and 11787.
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