WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street benchmarks ended up on Thursday, with the S&P 500 and Nasdaq recording their fourth successive higher closes, as traders leaned in to U.S. equities after the Federal Reserve hinted at a more tempered program of interest rate hikes.
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Plan A: Remain long as long as market trades above 31055. Targets are 31348 and 31641.
Plan B: Consider short if market stays below 31055. Targets are 30957 and 30859.
E-Mini S&P 500
U.S. stocks rose on Thursday as Wall Street built on its modest winning streak ahead of a key jobs report.
The Dow Jones Industrial Average gained 346.87 points, or about 1.12%, to close at 31,384.55. The S&P 500 added 1.50% to 3,902.62, while the Nasdaq Composite gained 2.28% to 11,621.35.
The S&P 500 notched a four-day winning streak, matching its best stretch of the year, according to Bespoke Investment Group.
Energy stocks were among those leading the gains on Thursday, reversing some recent losses as oil prices rebounded. Exxon rose 3.2%, and Occidental Petroleum gained nearly 4%.
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Plan A: Long if market supported firm above 3871. Targets are 3891 and 3915.
Plan B: Short if market failed to support above 3871. Targets are 3850 and 3825.
E-Mini Nasdaq
Chipmakers boosted the tech sector after South Korea’s Samsung posted an 11% jump in profit and 21% surge in revenue for the latest period on strong sales of memory chips. Shares of AMD and Nvidia gained 5.2% and 4.8%, respectively. On Semiconductor jumped more than 9%.
The Nasdaq has risen for four-straight sessions.
On the economic front, initial jobless claims and continuing claims both ticked up slightly last week. The U.S. trade deficit for May came in slightly higher than expected at $85.5 billion but was still down month over month.
The Labor Department’s monthly jobs report is due out on Friday, and the employment data could warrant extra scrutiny as investors try to gauge the health of the U.S. economy.
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Plan A: Long if market supported firm above 12028. Targets are 12080 and 12132.
Plan B : Short if market failed to support above 12028. Targets are 11971 and 11920.
HSI
The Hong Kong Hang Seng opened softly but rallied into the green, finishing up 0.3% after Hong Kong officials eased certain anti-pandemic travel restrictions on airlines serving the financial hub.
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Plan A: Remain long if the market stays above 21719. Targets are 21953 and 22188.
Plan B: Consider short only if the market stays below 21641. Targets are 21563 and 21406.
WTI Crude
Oil prices settled sharply higher on Thursday, rebounding from steep losses the previous two sessions, as investors returned their focus to tight supply despite nagging fears of a potential global recession.
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Plan A: Remain long as long as oil price stays above 100. Targets are 103.13 and 106.25.
Plan B: Consider short only if oil price stays below 100. Targets are 96.88 and 93.75.
Gold
Gold edged up from a nine-month low early on Thursday as the US dollar eased off of a 20-year high.
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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.
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.
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