WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Remain buy as long as market supported firmly above 33939 and rebound. Targets are 34400 and 34554.
Plan B : Consider selling if market fails to hold above 34247. Targets are 33940 and 33830.
E-Mini S&P 500
Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while U.S. Treasury yields traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York State.
The S&P 500 technology sector was down 0.9% and was the biggest drag on the benchmark index. Concerns over inflationary pressure helped to lift gold prices to their highest in more than three months, however.
The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.
In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was near unchanged at 1.642%, below a spike to 1.77% in late March.
E-Mini S&P 500
Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while U.S. Treasury yields traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York State.
The S&P 500 technology sector was down 0.9% and was the biggest drag on the benchmark index. Concerns over inflationary pressure helped to lift gold prices to their highest in more than three months, however.
The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.
In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was near unchanged at 1.642%, below a spike to 1.77% in late March.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
Plan A : Long if market supported firm above 4168. Targets are 4183, 4200 and 4219.
Plan B : Short if market failed to support above 4168. Targets are 4142, 4115 and 4088.
E-Mini NasdaqFutures contracts tied to the major U.S. stock indexes rose in early morning trading on Tuesday after Wall Street kicked off the week with modest losses.
The Nasdaq Composite fell 0.4% to 13,379.05.
Big Tech stocks fell to start the week, with Apple and Netflix each down 0.9%. Microsoft shed 1.2%, while Tesla dropped more than 2% as famed investor Michael Burry revealed a big short position on the electric carmaker.
Growth-heavy stocks have remained under pressure in recent sessions as investors fret over whether a pop in inflation will entrench or blow over as the Federal Reserve expects. Inflation above the Fed’s 2% target for a sustained period could prompt the central bank to tighten monetary policy and dampen stocks that outperform the market when interest rates are low.
The tech-heavy Nasdaq Composite, particularly sensitive to inflation fears, dropped 2.3% last week. The blue-chip Dow fell 1.1% in that period. All three benchmarks posted their worst week since February 26.
The Fed’s minutes from its last meeting, which will be released Wednesday, could offer some clues on policymakers’ thinking on inflation.
Futures contracts tied to the major U.S. stock indexes rose in early morning trading on Tuesday after Wall Street kicked off the week with modest losses.
The Nasdaq Composite fell 0.4% to 13,379.05.
Big Tech stocks fell to start the week, with Apple and Netflix each down 0.9%. Microsoft shed 1.2%, while Tesla dropped more than 2% as famed investor Michael Burry revealed a big short position on the electric carmaker.
Growth-heavy stocks have remained under pressure in recent sessions as investors fret over whether a pop in inflation will entrench or blow over as the Federal Reserve expects. Inflation above the Fed’s 2% target for a sustained period could prompt the central bank to tighten monetary policy and dampen stocks that outperform the market when interest rates are low.
The tech-heavy Nasdaq Composite, particularly sensitive to inflation fears, dropped 2.3% last week. The blue-chip Dow fell 1.1% in that period. All three benchmarks posted their worst week since February 26.
The Fed’s minutes from its last meeting, which will be released Wednesday, could offer some clues on policymakers’ thinking on inflation.
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