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
U.S. stock indexes ended higher on Wednesday, ultimately strengthening in the wake of the publication of the minutes from the latest Federal Reserve meeting.
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Plan A: Remain long as long as market trades above 30859. Targets are 31152 and 31348.
Plan B: Consider short if market stays below 30859. Targets are 30762 and 30566.
E-Mini S&P 500U.S. stocks moved slightly higher on Wednesday as investors pored over the latest minutes from the Federal Reserve.
The S&P 500 added 0.36% to 3,845.08.
Stocks bounced after the Federal Reserve released the minutes from its June meeting, showing that the central bank was committed to bringing down inflation. Fed members said the meeting on July 26 and 27 likely also would see another 50- or 75-basis point move, the minutes showed. A basis point is one one-hundredth of 1 percentage point.
Bond yields extended their gains for the day after the release of the Fed minutes, suggesting that investors may be pricing in a more aggressive central bank. That would be reassuring to some equity investors, who want the central bank to slow inflation so the economy can normalize more quickly.
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U.S. stocks moved slightly higher on Wednesday as investors pored over the latest minutes from the Federal Reserve.
The S&P 500 added 0.36% to 3,845.08.
Stocks bounced after the Federal Reserve released the minutes from its June meeting, showing that the central bank was committed to bringing down inflation. Fed members said the meeting on July 26 and 27 likely also would see another 50- or 75-basis point move, the minutes showed. A basis point is one one-hundredth of 1 percentage point.
Bond yields extended their gains for the day after the release of the Fed minutes, suggesting that investors may be pricing in a more aggressive central bank. That would be reassuring to some equity investors, who want the central bank to slow inflation so the economy can normalize more quickly.
The S&P 500 added 0.36% to 3,845.08.
Stocks bounced after the Federal Reserve released the minutes from its June meeting, showing that the central bank was committed to bringing down inflation. Fed members said the meeting on July 26 and 27 likely also would see another 50- or 75-basis point move, the minutes showed. A basis point is one one-hundredth of 1 percentage point.
Bond yields extended their gains for the day after the release of the Fed minutes, suggesting that investors may be pricing in a more aggressive central bank. That would be reassuring to some equity investors, who want the central bank to slow inflation so the economy can normalize more quickly.
To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your Jul subscription.
Plan A: Short if market failed to support above 3856. Targets are 3841 and 3837.
Plan B: Long only if market supported firm above 3856. Targets are 3868 and 3873.
E-Mini Nasdaq
U.S. stock futures were flat on Thursday morning as investors digested the most recent meeting minutes from the Federal Reserve.
The tech-centric Nasdaq Composite rose 0.35% to close at 11,361.85.
Investors continued to worry about whether the economy is falling into a recession after the benchmark 10-year U.S. Treasury yield fell below the 2-year yield. The so-called yield curve inversion historically has been a warning sign that the economy may be falling or has already fallen into recession.
The Institute for Supply Management services PMI data came in better than expected, though the report did show a slight slowdown in growth. Job openings also came in higher than expected, at more than 11 million.
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Plan A: Short if market failed to support above 11886. Targets are 11854 and 11821.
Plan B: Long if market supported firm above 11886. Targets are 11917 and 11945.
HSI
Hong Kong's Hang Seng Index opened lower and declined to the close, finishing down 1.2% as COVID-19 flare-ups in China again undercut investor optimism and oil shares.
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Plan A: Remain short if the market stays below 21719. Targets are 21406 and 21250.
Plan B: Consider long only if the market stays above 21875. Targets are 22031 and 22188.
WTI Crude
Oil prices slid about 2% to a 12-week low in volatile trade on Wednesday, extending the prior session's heavy losses as investors grew more worried energy demand would take a hit in a potential global recession.
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Plan A: Remain short as long as oil price stays below 103.13. Targets are 100 and 96.88.
Plan B: Consider long only if oil price stays above 96.88. Targets are 100 and 103.13.
Gold
Gold extended its selloff to an over nine-month low on Wednesday hurt by a stronger dollar, while the Federal Reserve's June meeting minutes established a more "restrictive" monetary policy.
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Plan A: Remain short as long as gold price stays below 1765.6. Targets are 1734.4 and 1718.8.
Plan B: Attempts long only if gold price stays above 1781.3. Targets are 1796.9 and 1812.5.
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