WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
US stocks closed mostly lower as the producer price index rose faster than expected and JPMorgan Chase set aside cash to cover potential loan losses amid a worsening economic outlook.
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Plan A: Remain long as long as market trades above 30469. Targets are 30859 and 31055.
Plan B: Consider short if market stays below 30469. Targets are 30273 and 30078.
E-Mini S&P 500
Stocks slipped Thursday as big bank earnings kicked off with disappointing results and traders assessed the possibility of even tighter U.S. monetary policy from the Federal Reserve as recessionary fears lingered.
S&P 500 dipped 0.3% to 3,790.38.
Earnings results from major banks on Thursday offered further clues into the health of the U.S. economy fears of a recession loom.
Thursday’s market moves come after the consumer price index for June came in hot at 9.1% and opened the door for a big Federal Reserve rate increase later this month, spurring speculation of a Fed rate hike of as much as 100 basis points.
S&P 500 dipped 0.3% to 3,790.38.
Earnings results from major banks on Thursday offered further clues into the health of the U.S. economy fears of a recession loom.
Thursday’s market moves come after the consumer price index for June came in hot at 9.1% and opened the door for a big Federal Reserve rate increase later this month, spurring speculation of a Fed rate hike of as much as 100 basis points.
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Plan A: Long if market supported firm above 3791. Targets are 3806 and 3819.
Plan B: Short if market failed to support above 3791. Targets are 3784 and 3779.
E-Mini Nasdaq
U.S. stock futures rose Friday morning after the Dow Jones Industrial Average declined following a disappointing start to second quarter earnings from the country’s largest banks.
The Nasdaq Composite inched 0.03% higher to finish at 11,251.19.
Investors combed through troubling reports from JPMorgan Chase and Morgan Stanley, which kicked off major bank earnings, and also weighed the likelihood of larger interest rate hikes from the Federal Reserve and looming recession concerns.
Big tech stocks were mixed on Thursday, with information technology up nearly 1%. Shares of Apple added 2%, and Nvidia gained more than 1%. Meta Platforms and Salesforce slipped.
U.S. stock futures rose Friday morning after the Dow Jones Industrial Average declined following a disappointing start to second quarter earnings from the country’s largest banks.
The Nasdaq Composite inched 0.03% higher to finish at 11,251.19.
Investors combed through troubling reports from JPMorgan Chase and Morgan Stanley, which kicked off major bank earnings, and also weighed the likelihood of larger interest rate hikes from the Federal Reserve and looming recession concerns.
Big tech stocks were mixed on Thursday, with information technology up nearly 1%. Shares of Apple added 2%, and Nvidia gained more than 1%. Meta Platforms and Salesforce slipped.
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Plan A: Long if market supported firm above 11772. Targets are 11806 and 11835.
Plan B : Short if market failed to support above 11772. Targets are 11742 and 11719.
HSI
The Hong Kong Hang Seng Index opened evenly but lost ground throughout the afternoon, finishing off 0.2% as traders again balked at bank and property issues on concerns that unpaid mortgage payments may undercut developers and lenders. Tech issues gained.
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Plan A: Remain short if the market stays below 20781. Targets are 20469 and 20313.
Plan B: Consider long only if the market stays above 20938. Targets are 21094 and 21250.
WTI Crude
Oil prices settled lower on Thursday, but pared nearly all losses after falling more than $4 earlier in the session as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.
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Plan A: Remain short as long as oil price stays below 96.88. Targets are 95.31 and 93.75.
Plan B: Consider long only if oil price stays above 98.44. Targets are 100 and 101.56.
Gold
Gold prices traded at the lowest in more than a year on Thursday even as US inflation runs at the hottest in 41 years, as investors moved to the safety of the dollar on concerns the rise in prices will see the Federal Reserve turn even more aggressive in raising interest rates when its policy committee meets later in July.
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Plan A: Remain short as long as gold price stays below 1734.4. Targets are 1703.1 and 1695.3.
Plan B: Attempts long only if gold price stays above 1734.4. Targets are 1742.2 and 1750.
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