WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The tech-heavy Nasdaq surged 3% on Wednesday, leading a rally on Wall Street as sharp losses this week from worries over the fallout of the Ukraine crisis saw investors scoop up beaten-down stocks, with sentiment lifted by a pullback in oil prices.
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Plan A: Consider long if market trades firmly above 33100. Targets are 33300 and 33500.
Plan B: Attempts short if market trades below 33000. Targets are 32800 and 32600.
Plan A: Consider long if market trades firmly above 33100. Targets are 33300 and 33500.
Plan B: Attempts short if market trades below 33000. Targets are 32800 and 32600.
E-Mini S&P 500
Stock futures were mildly lower in early morning trading Thursday after the major indexes posted sharp gains as commodity prices cooled.
In Wednesday’s regular trading session, the Dow rose 653.61 points, or 2%. The S&P 500 climbed 2.6% for its best day since June 2020.
Investors are awaiting the release of February’s consumer price index Thursday morning. Economists expect headline inflation rose 0.7% last month, or 7.8% from the year prior, according to Dow Jones estimates.
On the economic front, job openings outnumbered available workers by nearly 5 million in January, the Labor Department reported Wednesday.
Stock futures were mildly lower in early morning trading Thursday after the major indexes posted sharp gains as commodity prices cooled.
In Wednesday’s regular trading session, the Dow rose 653.61 points, or 2%. The S&P 500 climbed 2.6% for its best day since June 2020.
Investors are awaiting the release of February’s consumer price index Thursday morning. Economists expect headline inflation rose 0.7% last month, or 7.8% from the year prior, according to Dow Jones estimates.
On the economic front, job openings outnumbered available workers by nearly 5 million in January, the Labor Department reported Wednesday.
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Plan A: Short if market failed to support above 4271. Targets are 4269 and 4253.
Plan B: Long if market retraced but supported firm above 4271. Targets are 4283 and 4296.
E-Mini Nasdaq
Stocks posted sharp gains on Wednesday as recently surging commodity prices, especially oil, cooled off while the war in Ukraine continues.
The technology-focused Nasdaq Composite gained 3.6% to 13,255.55, for its best day since November 2020, boosted by strong gains in mega-cap technology darlings.
Technology stocks pushed the major averages higher with Netflix gaining 5% and Microsoft adding 4.6%. Meta Platforms and Alphabet rose 4.3% and 5%, respectively.
Treasury prices fell and yields climbed as investors rotated out of bonds after huddling in fixed income for protection amid the Ukraine war. The benchmark 10-year note yield rose about 5 basis points to 1.93%. A basis point equals 0.01%.
Stocks posted sharp gains on Wednesday as recently surging commodity prices, especially oil, cooled off while the war in Ukraine continues.
The technology-focused Nasdaq Composite gained 3.6% to 13,255.55, for its best day since November 2020, boosted by strong gains in mega-cap technology darlings.
Technology stocks pushed the major averages higher with Netflix gaining 5% and Microsoft adding 4.6%. Meta Platforms and Alphabet rose 4.3% and 5%, respectively.
Treasury prices fell and yields climbed as investors rotated out of bonds after huddling in fixed income for protection amid the Ukraine war. The benchmark 10-year note yield rose about 5 basis points to 1.93%. A basis point equals 0.01%.
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Plan A: Remain short as long as market stays below 13702. Targets are 13677 and 13648.
Plan B : Consider long if market supports firmly above 13702 and rebound. Targets are 13733 and 13768.
Plan A: Remain short as long as market stays below 13702. Targets are 13677 and 13648.
Plan B : Consider long if market supports firmly above 13702 and rebound. Targets are 13733 and 13768.
HSI
Chinese shares ended lower on Wednesday, as investors remained on edge over concerns the commodity prices' rally would have a wider impact on the world's second-largest economy, while new domestic coronavirus cases also weighed on risk sentiment.
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Plan A: Consider long if market trades firmly above 20750. Targets are 20940 and 21100.
Plan B: Attempts short if market trades below 20750. Targets are 20600 and 20450.
WTI Crude
Oil prices plunged as much as 17% after media reports said OPEC producers United Arab Emirates and Iraq said they would support increased production, potentially offsetting some of the supply disruptions caused by sanctions on Russian oil after its invasion of Ukraine.
Plan A: Consider long if market trades firmly above 20750. Targets are 20940 and 21100.
Plan B: Attempts short if market trades below 20750. Targets are 20600 and 20450.
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Plan A: Remain short if oil price trades below 115.60. Targets are 109.40 and 103.10.
Plan B : Consider long as long as oil price trades firmly above 103.10. Targets are 112.50 and 115.60.
Gold
Spot gold fell 3.2% to $1,987.66 per ounce, snapping a rally that took it near the August 2020 all-time high, as a retreat in oil prices helped riskier assets rebound after sharp declines spurred by the Ukraine war.
Gold
Spot gold fell 3.2% to $1,987.66 per ounce, snapping a rally that took it near the August 2020 all-time high, as a retreat in oil prices helped riskier assets rebound after sharp declines spurred by the Ukraine war.
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