WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow ended higher on Friday as financial shares rose after the benchmark Treasury yield jumped to its highest level in nearly three years.
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Plan A: Remain buy a long as market trades firmly above 34334. Targets are 34836 and 35019.
Plan B: Consider short if market surges but fails to breach above 34836. Targets are 34555 and 34334.
Plan A: Remain buy a long as market trades firmly above 34334. Targets are 34836 and 35019.
Plan B: Consider short if market surges but fails to breach above 34836. Targets are 34555 and 34334.
E-Mini S&P 500
The S&P 500 rose Friday to close out a winning week even as investors weighed interest rate hikes and war in Ukraine.
The S&P 500 added 0.5% to close at 4,543.06.
The benchmark 10-year rate on Friday touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle.
Financial stocks rose Friday as the 10-year yield jumped. Bank of America and Wells Fargo rose 1.5% and 2.4%, respectively.
Fed Chair Jerome Powell on Monday vowed to be tough on inflation. The remarks came after the Fed raised interest rates for the first time since 2018 last week, with hikes coming at each of the six remaining policy meetings this year.
First-time jobless claims last week reached the lowest tally since 1969, the Labor Department reported Thursday — the latest sign of a resilient labor market. Economists expect the March jobs report next week to show similar strength.
The S&P 500 rose Friday to close out a winning week even as investors weighed interest rate hikes and war in Ukraine.
The S&P 500 added 0.5% to close at 4,543.06.
The benchmark 10-year rate on Friday touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle.
Financial stocks rose Friday as the 10-year yield jumped. Bank of America and Wells Fargo rose 1.5% and 2.4%, respectively.
Fed Chair Jerome Powell on Monday vowed to be tough on inflation. The remarks came after the Fed raised interest rates for the first time since 2018 last week, with hikes coming at each of the six remaining policy meetings this year.
First-time jobless claims last week reached the lowest tally since 1969, the Labor Department reported Thursday — the latest sign of a resilient labor market. Economists expect the March jobs report next week to show similar strength.
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Plan A: Long if market supported firm above 4525. Targets are 4537 and 4542.
Plan B: Short if market failed to support above 4525. Targets are 4519 and 4504.
E-Mini Nasdaq
Stock futures were lower early Monday morning as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve’s planned interest rate hikes.
The Nasdaq Composite dipped about 0.2% to 14,169.30.
Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.
On Friday, the benchmark 10-year yield touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle, which helped lift financial stocks while tech stocks pulled back.
Stock futures were lower early Monday morning as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve’s planned interest rate hikes.
The Nasdaq Composite dipped about 0.2% to 14,169.30.
Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.
On Friday, the benchmark 10-year yield touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle, which helped lift financial stocks while tech stocks pulled back.
The Nasdaq Composite dipped about 0.2% to 14,169.30.
Investors continue to keep a close eye on the Fed. Wall Street firms from Goldman Sachs to Bank of America penciled in half-point hikes in future Fed meetings this year after the central bank’s chair Jerome Powell vowed to be tough on inflation and said rate increases could become more aggressive if necessary.
On Friday, the benchmark 10-year yield touched a fresh multi-year high of 2.5% as investors priced in a more aggressive rate hike cycle, which helped lift financial stocks while tech stocks pulled back.
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Plan A: Consider long if market supports firmly above 14681. Targets are 14719 and 14742.
Plan B : Consider short as long as market stays below 14681. Targets are 14651 and 14627.
Plan A: Consider long if market supports firmly above 14681. Targets are 14719 and 14742.
Plan B : Consider short as long as market stays below 14681. Targets are 14651 and 14627.
HSI
Hong Kong stocks fell on Friday, erasing gains accumulated during the week, after shares of JD.com tumbled following a US$1.1 billion fundraising by its logistics arm. Traders kept risk appetite in check pending more potential slip-up in BigTech earnings.
HSI
Hong Kong stocks fell on Friday, erasing gains accumulated during the week, after shares of JD.com tumbled following a US$1.1 billion fundraising by its logistics arm. Traders kept risk appetite in check pending more potential slip-up in BigTech earnings.
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Plan A: Remain short as long as market stays below 21647 . Targets are 21262 and 20947.
Plan B: Consider long if market test support at 20947 and rebound. Targets are 21383 and 21647.
WTI Crude
Oil prices fell more than $3 in early trade on Monday on prospects of a drop in fuel demand in China after authorities in Shanghai said they would shut the country's financial hub for a COVID-19 testing blitz over nine days.
Plan B: Consider long if market test support at 20947 and rebound. Targets are 21383 and 21647.
WTI Crude
Oil prices fell more than $3 in early trade on Monday on prospects of a drop in fuel demand in China after authorities in Shanghai said they would shut the country's financial hub for a COVID-19 testing blitz over nine days.
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Plan A: Remain buy as long as oil price trades firmly above 109.6. Targets are 119.5 and 127.6.
Plan B: Consider short if oil price fails to hold firm above 109.6. Targets are 105.7 and 102.9.
Gold
Gold was on course to gain for the week as concerns over the war in Ukraine and rising prices boosted its appeal as a safe haven and an inflation hedge, but prices eased on Friday as U.S. Treasury yields firmed.
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