3 Jun 2022 Foreign

 WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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E-Mini Dow

Global equity markets rose while U.S. yields were lower on Thursday after lower-than-expected private payrolls data stirred hopes that the American economy was likely cooling and the Federal Reserve might be persuaded to modify its aggressive stance on interest rates and inflation.

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Plan A: Remain long as long as market trades above 33008. Targets are 33398 and 33594.

Plan B: Consider short if market stays below 32813. Targets are 32617 and 32422.

E-Mini S&P 500

U.S. stocks rose Thursday after an intraday comeback as the three major indexes each snapped two-day losing streaks.

The S&P 500 gained 1.8% to 4,176.82.

Investors eyed employment data showing the slowest job creation pace of the pandemic-era recovery. Private sector employment rose by just 128,000 in May, ADP reported Thursday, falling well short of the 299,000 Dow Jones estimate. In another report Thursday, initial jobless claims last week fell and came in below expectations, according to the Labor Department.

The closely-watched jobs report for May is slated for release Friday morning. Economists expect 328,000 nonfarm jobs were added in the latest month, compared with 428,000 in April.

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Plan A: Short if market failed to support above 4179. Targets are 4162 and 4156.

Plan B: Long only if market supported firm above 4179. Targets are 4183 and 4201. 

E-Mini Nasdaq

Stock futures were muted early Friday morning as investors focus their attention on more jobs data due out later in the day.

The tech-heavy Nasdaq Composite advanced 2.7% to 12,316.90.

Traders also examined a warning from Microsoft as the company lowered its fourth-quarter guidance, blaming unfavorable foreign exchange rates. Microsoft fell to start the session before ending Thursday in the green slightly.

Fed Vice Chair Lael Brainard on Thursday said it is unlikely the central bank will take a break from its current rate hiking cycle anytime soon.

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Plan A: Short if market failed to support above 12897. Targets are 12862 and 12837.

Plan B: Long if market supported firm above 12897. Targets are 12921 and 12958.

WTI Crude

Oil rose more than 1% on Thursday after U.S. crude inventories fell more than expected amid high demand for fuel, shrugging off OPEC+'s agreement to boost crude output to compensate for a drop in Russian production.

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Plan A: Remain long as long as oil price stays above 114.84. Targets are 117.97 and 118.75.

Plan B: Consider short only if oil price stays below 114.84. Targets are 114.06 and 113.28.

Gold

Gold prices rose over 1% on Thursday supported by a dip in the dollar and data showing U.S. private payrolls rose less than expected last month.

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Plan A: Remain long as long as gold price stays above 1851.6. Targets are 1875 and 1890.6.

Plan B: Attempts short only if gold price stays below 1851.6. Targets are 1843.8 and 1835.6.

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.