WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow Jones Industrial Average scored a record closing high on Tuesday for a second straight day as financial and industrial shares rallied, while the Nasdaq fell.
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Plan A: Remain buy as long as market trades firmly above 36571. Targets are 36666 and 36821.
Plan B: Consider short if market surges but fails to breach above 36821. Targets are 36666 and 36571.
E-Mini S&P 500
The Dow Jones Industrial Average rose for a second day to start 2022 as investors bet on the kinds of stocks that would benefit from a robust economy this year despite the omicron threat.
The S&P 500 also reached an intraday record, but was held back somewhat by tech losses.
Investors this week have been betting the economy could overcome the latest surge in Covid cases, which topped 1 million in the U.S. That optimism boosted interest rates and divided the stock market on Tuesday.
Ford Motor was the biggest gainer in the S&P, up 11.6% after the company opened orders this week for its F-150 Lightning electric pickup truck, which it had previously shut down due to an overwhelming response. The company also announced plans to nearly double its production plan to 150,000 annually.
Bond yields jumped for a second day as investors digested growing evidence that the omicron variant of Covid-19 may be less of a material drag on global growth that many initially anticipated.
The Dow Jones Industrial Average rose for a second day to start 2022 as investors bet on the kinds of stocks that would benefit from a robust economy this year despite the omicron threat.
The S&P 500 also reached an intraday record, but was held back somewhat by tech losses.
Ford Motor was the biggest gainer in the S&P, up 11.6% after the company opened orders this week for its F-150 Lightning electric pickup truck, which it had previously shut down due to an overwhelming response. The company also announced plans to nearly double its production plan to 150,000 annually.
Bond yields jumped for a second day as investors digested growing evidence that the omicron variant of Covid-19 may be less of a material drag on global growth that many initially anticipated.
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Plan A: Long if market supported firmly above 4783. Targets are 4795, 4809 and 4812.
Plan B: Short only if the market failed to support above 4783. Targets are 4771, 4767 and 4754.
E-Mini Nasdaq
Stock futures were flat in overnight trading Tuesday after the Dow Jones Industrial Average notched a record close as investors flocked to shares that stand to benefit from an economic recovery.
The closely-watched benchmark 10-year Treasury yield was as high as 1.71% Tuesday, triggering selling in growth-oriented technology stocks.
The central bank announced it would speed up the tapering of its bond buying program. The Fed has also forecast three interest rate hikes for 2022.
Stock futures were flat in overnight trading Tuesday after the Dow Jones Industrial Average notched a record close as investors flocked to shares that stand to benefit from an economic recovery.
The closely-watched benchmark 10-year Treasury yield was as high as 1.71% Tuesday, triggering selling in growth-oriented technology stocks.
The central bank announced it would speed up the tapering of its bond buying program. The Fed has also forecast three interest rate hikes for 2022.
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Plan A: Long if the market supported firmly above 16221. Targets are 16253, 16287 and 16316.
Plan B: Short if market failed to support above 16221. Targets are 16192, 16160 and 16139.
HSI
China and Hong Kong stocks fell on Tuesday morning, dragged down by technology shares, as Beijing's new cybersecurity rules damp sentiment, despite a rebound in property plays.
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Plan A: Attempt long if market trades firmly above 23200. Targets are 23306 and 23458.
Plan B: Consider short if market surges but fails to breach above 23458. Targets are 23306 and 23200.
WTI Crude
International benchmark Brent crude futures traded at $79.87 a barrel during afternoon deals in London, up around 1.1%, while U.S. West Texas Intermediate futures stood at $76.89 a barrel, roughly 1% higher as an influential group of some of the world's largest oil producers agreed on Tuesday to stick to its planned increase in oil production from February as energy investors weigh the potential impact of soaring omicron Covid cases.
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Plan A: Remain long as long as oil price trades firmly above 76.4. Targets are 77.2 and 77.6.
Plan B : Consider short if oil price fails to hold above 77.0. Targets are 76.4 and 75.7.
Gold
Gold prices rose on Tuesday as demand for the safe-haven metal was boosted by worries over a surge in COVID-19 cases of the Omicron variant that could threaten global economic recovery.
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Plan A: Attempt short if gold price stays below 1813.4. Targets are 1800.4 and 1793.
Plan B: Consider long if gold price supports firmly above 1800.4 and rebound. Targets are 1810 and 1813.4.
Plan B: Consider long if gold price supports firmly above 1800.4 and rebound. Targets are 1810 and 1813.4.
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