WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's major averages fell more than 1% on Wednesday after a morning rally faded as investor angst about the latest coronavirus variant soared with the first U.S. case confirmation while the market also digested Fed comments on inflation.
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Plan A : Remain short as long as market stays below 34393. Targets are 34020 and 33930.
Plan B : Consider long only if market trades resiliently above 33930 and rebound. Targets are 34160 and 34282.
E-Mini S&P 500
The major averages fell sharply, giving up solid gains, on Wednesday after the Centers for Disease Control and Prevention confirmed the first case of omicron in the U.S.
The S&P 500 lost nearly 1.2% to end at 4,513.04. The broad-market index closed below its 50-day moving average for the first time since Oct. 13.
The U.S. 10-year Treasury rose as much as 9 basis points to around 1.5% earlier in the session on Wednesday but later retreated to around 1.41%.
ADP’s private payroll data for November showed 534,000 jobs added that month, above expectations of 506,000
Elsewhere, November’s IHS Markit manufacturing PMI came in at 58.3, lower than expected. October construction spending also rose slower than expected, but there was a positive historical revision to help offset the miss.
The November manufacturing report from ISM, which matched expectations and showed a decline in prices paid.
E-Mini S&P 500
The major averages fell sharply, giving up solid gains, on Wednesday after the Centers for Disease Control and Prevention confirmed the first case of omicron in the U.S.
The S&P 500 lost nearly 1.2% to end at 4,513.04. The broad-market index closed below its 50-day moving average for the first time since Oct. 13.
The U.S. 10-year Treasury rose as much as 9 basis points to around 1.5% earlier in the session on Wednesday but later retreated to around 1.41%.
ADP’s private payroll data for November showed 534,000 jobs added that month, above expectations of 506,000
Elsewhere, November’s IHS Markit manufacturing PMI came in at 58.3, lower than expected. October construction spending also rose slower than expected, but there was a positive historical revision to help offset the miss.
The November manufacturing report from ISM, which matched expectations and showed a decline in prices paid.
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Plan A : Long if market supported firm above 4551. Targets are 4562, 4571 and 4583.
Plan B : Short if market failed to support above 4551. Targets are 4542, 4534 and 4521.
E-Mini Nasdaq
U.S. stock index futures rose in early morning trading on Thursday, following a Wednesday tumble on Wall Street after the CDC confirmed the first known case of the omicron variant in the U.S.
The Nasdaq Composite slid 1.83%, after earlier trading 1.8% higher.
On the data front, weekly initial jobless claims numbers will be released Thursday at 8:30 a.m. ET. Economists are expecting a print of 240,000, according to estimates from Dow Jones. The prior reading showed 199,000 first-time filers, which was the lowest since November 1969. The November jobs report will be released on Friday.
Thursday’s reading follows a better-than-expected ADP report on Wednesday. Private payrolls increased by 534,000 in November, ahead of the expected 506,000.
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Plan A : Long if market supported firm above 15937. Targets are 15968, 15996 and 16024.
Plan B : Short if market failed to support above 15937. Targets are 15908, 15877 and 15845.
HSI
Hong Kong shares rebounded from a more than one-year low as bargain hunters bought the dips on tech and financials shares.
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Plan A : Attempt sell if market trades below 23920. Targets are 23500 and 23007.
Plan B : Consider long if market supports above 23440 and rebound. Targets are 23616 and 23720.
WTI Crude
Oil prices fell into the red in late afternoon trading on Wednesday after the CDC confirmed the firm omicron case in the U.S.
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Plan A : Attempt sell if oil price trades below 67.4. Targets are 64.4 and 61.8.
Plan B : Consider long if oil price breaches and stay firm above 67.4. Targets are 68.8 and 70.8.
Gold
Gold rose on Wednesday, tracking a retreat in the dollar as investors used a pullback in the previous session to buy bullion as a hedge against wider market volatility amid concerns over the impact of the Omicron coronavirus variant.
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Plan A : Remain sell as long as gold price stays below 1791.4. Targets are 1780 and 1768.7.
Plan B : Consider long if gold price trades resiliently above 1780 and rebound. Targets are 1791.4 and 1800.5.
Plan B : Consider long if gold price trades resiliently above 1780 and rebound. Targets are 1791.4 and 1800.5.
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, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, 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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