WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street wrapped up the first week of the new year with daily and weekly losses as investors worried about looming U.S. interest-rate hikes and unfolding Omicron news.
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Plan A: Remain short as long as market stays trading below 36284. Targets are 36080 and 35952.
Plan B: Consider long if market trades firmly above 35952 and rebound. Targets are 36155 and 36284.
E-Mini S&P 500
Stocks fell on Friday to end a rough first trading week of the year, as tech shares were battered by rising interest rates.
The S&P 500 fell 0.4% to 4,677.03 for its first four-day losing streak since September.
The 10-year Treasury yield topped 1.8% on Friday, continuing its 2022 run from a 2021 year-end level of just 1.51%. The release of the Federal Reserve’s December meeting minutes on Wednesday were the major catalyst for the rate move.
On Friday, the Labor Department reported the U.S. economy added far fewer jobs in December than expected. The nonfarm payrolls report showed an increase of 199,000 in December, though economists had expected growth of 422,000, according to Dow Jones.
Stocks fell on Friday to end a rough first trading week of the year, as tech shares were battered by rising interest rates.
The S&P 500 fell 0.4% to 4,677.03 for its first four-day losing streak since September.
The 10-year Treasury yield topped 1.8% on Friday, continuing its 2022 run from a 2021 year-end level of just 1.51%. The release of the Federal Reserve’s December meeting minutes on Wednesday were the major catalyst for the rate move.
On Friday, the Labor Department reported the U.S. economy added far fewer jobs in December than expected. The nonfarm payrolls report showed an increase of 199,000 in December, though economists had expected growth of 422,000, according to Dow Jones.
The S&P 500 fell 0.4% to 4,677.03 for its first four-day losing streak since September.
The 10-year Treasury yield topped 1.8% on Friday, continuing its 2022 run from a 2021 year-end level of just 1.51%. The release of the Federal Reserve’s December meeting minutes on Wednesday were the major catalyst for the rate move.
On Friday, the Labor Department reported the U.S. economy added far fewer jobs in December than expected. The nonfarm payrolls report showed an increase of 199,000 in December, though economists had expected growth of 422,000, according to Dow Jones.
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Plan A: Long if market supported firmly above 4668. Targets are 4679, 4682 and 4696.
Plan B: Short only if the market failed to support above 4668. Targets are 4655, 4641 and 4636.
E-Mini Nasdaq
The tech-heavy Nasdaq posted its worst week since February 2021, down about 4.5% in the first five trading days of 2022. The S&P 500 was off by 1.8%, while the Dow lost only 0.29% as investors rotated into some value stocks amid the rise in rates.
Tech stocks lost ground further on Friday as yields jumped. With rates rising rapidly, investors are dumping riskier stocks trading on high valuations based on estimates of profit growth far off in the future.
Software stocks were among the hardest hit shares for the week amid the rotation out of tech, with Salesforce down 10%, and Adobe down more than 9% for the week. CrowdStrike moved 7.7% lower. Nearly all megacap tech stocks finished the week lower. Netflix has lost 10% for the week, Microsoft which ended the day slightly higher, fell 6.6% for the week. Alphabet fell more than 5%.
The tech-heavy Nasdaq posted its worst week since February 2021, down about 4.5% in the first five trading days of 2022. The S&P 500 was off by 1.8%, while the Dow lost only 0.29% as investors rotated into some value stocks amid the rise in rates.
Tech stocks lost ground further on Friday as yields jumped. With rates rising rapidly, investors are dumping riskier stocks trading on high valuations based on estimates of profit growth far off in the future.
Software stocks were among the hardest hit shares for the week amid the rotation out of tech, with Salesforce down 10%, and Adobe down more than 9% for the week. CrowdStrike moved 7.7% lower. Nearly all megacap tech stocks finished the week lower. Netflix has lost 10% for the week, Microsoft which ended the day slightly higher, fell 6.6% for the week. Alphabet fell more than 5%.
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Plan A: Long if the market supported firmly above 15581. Targets are 15616, 15642 and 15678.
Plan B: Short if market failed to support above 15581. Targets are 15557, 15520 and 15493.
HSI
China and Hong Kong stocks tracked other Asian shares higher on Friday as Beijing reiterated the need to prioritize economic stability, while property shares rebounded sharply on fresh signs of policy easing.
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Plan A: Attempt long if market trades firmly above 23389. Targets are 23527 and 23670.
Plan B: Consider short if market surges but fails to breach above 23670. Targets are 23461 and 23389.
WTI Crude
Oil prices settled lower on Friday, as the market weighed supply concerns from the unrest in Kazakhstan and outrages in Libya against a U.S. jobs report that missed expectations and its potential impact on Federal Reserve policy.
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Plan A: Remain long as long as oil price trades firmly above 77.6. Targets are 79.8 and 80.7.
Plan B : Consider short if oil price surges but fails to breach above 79.8. Targets are 78.7 and 77.6.
Gold
Gold prices edged up from three-week lows on Friday after data showed U.S. jobs growth was slower than expected last month even as the Federal Reserve signaled faster rate hikes, which sent bullion on track for a weekly fall.
Plan B : Consider short if oil price surges but fails to breach above 79.8. Targets are 78.7 and 77.6.
Gold
Gold prices edged up from three-week lows on Friday after data showed U.S. jobs growth was slower than expected last month even as the Federal Reserve signaled faster rate hikes, which sent bullion on track for a weekly fall.
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Plan A: Remain short as long as gold price stays below 1803.1. Targets are 1790.3 and 1784.7.
Plan B: Consider long if gold price supports firmly above 1784.7 and rebound. Targets are 1790.3 and 1803.1.
Plan B: Consider long if gold price supports firmly above 1784.7 and rebound. Targets are 1790.3 and 1803.1.
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