WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stock indexes rose on Wednesday after data showed that while U.S. inflation was at its highest in decades, it largely met economists' expectations, cooling some fears that the Federal Reserve would have to pull back support even more forcibly than already expected.
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Plan A: Remain buy as long as market trades firmly above 35952. Targets are 36176 and 36284.
Plan B: Consider short if market surges but fails to breach above 36284. Targets are 36176 and 35952.
E-Mini S&P 500
U.S. stocks moved slightly higher Wednesday after a key inflation report showed a historic gain but largely matched expectations.
The S&P 500 added roughly 0.28% to 4,726.35.
The moves come after the December reading for the consumer price index, a gauge of prices across a broad spectrum of goods, showed a gain of 7% year over year.
Interest rates already moved sharply higher in the first week of 2022, sparking a sell-off in tech stocks. That suggests the hot inflation report, and future tightening by the Federal Reserve, may be at least partially priced in to the market.
Bond yields, which spiked to start 2022, appear to have stabilized, with the 10-year Treasury yield slipping to 1.73% on Wednesday after topping the 1.8% level earlier in the week.
U.S. stocks moved slightly higher Wednesday after a key inflation report showed a historic gain but largely matched expectations.
The S&P 500 added roughly 0.28% to 4,726.35.
The moves come after the December reading for the consumer price index, a gauge of prices across a broad spectrum of goods, showed a gain of 7% year over year.
Interest rates already moved sharply higher in the first week of 2022, sparking a sell-off in tech stocks. That suggests the hot inflation report, and future tightening by the Federal Reserve, may be at least partially priced in to the market.
Bond yields, which spiked to start 2022, appear to have stabilized, with the 10-year Treasury yield slipping to 1.73% on Wednesday after topping the 1.8% level earlier in the week.
The S&P 500 added roughly 0.28% to 4,726.35.
The moves come after the December reading for the consumer price index, a gauge of prices across a broad spectrum of goods, showed a gain of 7% year over year.
Interest rates already moved sharply higher in the first week of 2022, sparking a sell-off in tech stocks. That suggests the hot inflation report, and future tightening by the Federal Reserve, may be at least partially priced in to the market.
Bond yields, which spiked to start 2022, appear to have stabilized, with the 10-year Treasury yield slipping to 1.73% on Wednesday after topping the 1.8% level earlier in the week.
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Plan A: Long if market supported firmly above 4734. Targets are 4742, 4759 and 4765.
Plan B: Short only if the market failed to support above 4734. Targets are 4726, 4714 and 4701.
E-Mini Nasdaq
U.S. stock futures were steady in overnight trading on Wednesday after the Nasdaq Composite rose for the third session despite a red-hot consumer price index report.
Nasdaq 100 futures rose 0.04%.
On a monthly basis, CPI increased 0.5%. Economists expected the consumer price index to rise 0.4% in December, and 7% on a year-over-year basis, according to Dow Jones.
U.S. stock futures were steady in overnight trading on Wednesday after the Nasdaq Composite rose for the third session despite a red-hot consumer price index report.
Nasdaq 100 futures rose 0.04%.
On a monthly basis, CPI increased 0.5%. Economists expected the consumer price index to rise 0.4% in December, and 7% on a year-over-year basis, according to Dow Jones.
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Plan A: Long if the market supported firmly above 15900. Targets are 15937, 15969 and 15993.
Plan B: Short if market failed to support above 15900. Targets are 15872, 15847 and 15818.
HSI
Hong Kong's main Hang Seng index logged its biggest percentage gain in three months on Wednesday as a less hawkish-than-expected testimony from U.S. Federal Reserve Chairman Jerome Powell lifted tech shares across the region.
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Plan A: Remain buy as long as market stays firm above 24150. Targets are 24403 and 24630.
Plan B: Consider short if market surges but fails to breach above 24630. Targets are 24403 and 24346.
WTI Crude
Oil prices hit two-month highs on Wednesday on tight supply and easing concerns about the potential hit to demand from the Omicron coronavirus variant.
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Plan A: Remain long as long as oil price trades firmly above 80.5. Targets are 83.1 and 84.8.
Plan B : Consider short if oil price surges but fails to breach above 83.1. Targets are 82.3 and 80.5.
Gold
Gold firmed on Wednesday as data showing U.S. inflation was within expectations dented the dollar and prompted buying from investors who seemed to have priced in the Federal Reserve's likely interest rate hike trajectory.
Plan B : Consider short if oil price surges but fails to breach above 83.1. Targets are 82.3 and 80.5.
Gold
Gold firmed on Wednesday as data showing U.S. inflation was within expectations dented the dollar and prompted buying from investors who seemed to have priced in the Federal Reserve's likely interest rate hike trajectory.
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Plan A: Remain buy as long as gold trades firmly above 1813.4. Targets are 1823 and 1832.1.
Plan B: Consider short if gold price fails to breach above 1832.1. Targets are 1823 and 1813.4.
Plan B: Consider short if gold price fails to breach above 1832.1. Targets are 1823 and 1813.4.
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