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
Wall Street's major indexes closed lower on Thursday as concerns mounted ahead of closely watched monthly nonfarm payrolls numbers due on Friday that the Federal Reserve's aggressive interest rate stance will lead to a recession.
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Plan A: Remain short as long as market trades below 30273. Targets are 29883 and 29688.
Plan B: Consider long if market stays above 30273. Targets are 30469 and 30664.
E-Mini S&P 500
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U.S. stocks fell Thursday, as traders weighed sharp swings in stocks and rates to start the month.
The S&P 500 lost 1.02% to 3,744.52.
The benchmark 10-year rate surpassed 3.8%. The 2-year yield, which is more sensitive to monetary policy changes, topped 4.2%.
On Wednesday, data from ADP showed that the labor market remained strong among private companies in September, when businesses added 208,000 jobs, beating Wall Street estimates. But on Thursday, jobless claims were higher than expected, signaling there may be some labor market weakness.
The S&P 500 lost 1.02% to 3,744.52.
The benchmark 10-year rate surpassed 3.8%. The 2-year yield, which is more sensitive to monetary policy changes, topped 4.2%.
On Wednesday, data from ADP showed that the labor market remained strong among private companies in September, when businesses added 208,000 jobs, beating Wall Street estimates. But on Thursday, jobless claims were higher than expected, signaling there may be some labor market weakness.
Plan A : Long if market supported firm above 3725. Targets are 3739 and 3746.
Plan B : Short if market failed to support above 3725. Targets are 3712 and 3699.
E-Mini Nasdaq
The Dow Jones Industrial Average fell 346.93 points, or 1.15%, to 29,926.94. Nasdaq Composite dropped 0.68% to 11,073.31. The three stock benchmarks opened the session lower. All of the major averages are on pace to end the week more than 4% higher for their best week since June 24.
Investors are anxiously awaiting the Friday jobs report, which will show how the labor market fared in September, giving the central bank another piece of information about its rate-hike campaign. Economists polled by Dow Jones expect the report will show that payrolls increased by 275,000 and that the unemployment rate remained at 3.7%. A surprise to the upside could raise concerns that the Federal Reserve will take a tougher line on inflation.
Wall Street started the week on a high note, with the S&P 500 staging its biggest two-day rally since 2020. Stocks fought to keep the winning streak going Wednesday but ultimately fell short.
Investors are anxiously awaiting the Friday jobs report, which will show how the labor market fared in September, giving the central bank another piece of information about its rate-hike campaign. Economists polled by Dow Jones expect the report will show that payrolls increased by 275,000 and that the unemployment rate remained at 3.7%. A surprise to the upside could raise concerns that the Federal Reserve will take a tougher line on inflation.
Wall Street started the week on a high note, with the S&P 500 staging its biggest two-day rally since 2020. Stocks fought to keep the winning streak going Wednesday but ultimately fell short.
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Plan A : Long if market retraced but supported firm above 11419. Targets are 11448 and 11482.
Plan B : Short only if market failed to support above 11419. Targets are 11376 and 11340.
HSI
Hong Kong shares closed slightly lower on Thursday after a sharp jump in the previous session, with the stock indexes underperforming firmer Asian markets amid focus on China's economic growth prospects and U.S. jobs data.
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Plan A: Remain short if the market stays below 18125. Targets are 17813 and 17656.
Plan B: Consider long only if the market stays above 17656. Targets are 17969 and 18125.
WTI Crude
Oil prices rose about 1% on Thursday, holding at three-week highs after OPEC+ agreed to tighten global supply with a deal to cut production targets by 2 million barrels per day (bpd), the producers' largest reduction since 2020.
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Plan A: Remain long as long as oil price stays above 86.72. Targets are 89.06 and 90.63.
Plan B: Consider short only if oil price stays below 86.72. Targets are 85.94 and 85.16.
Gold
Gold prices dipped on Thursday, pressured by strength in the dollar and Treasury yields, while investors prepared for U.S. jobs data that could influence the Federal Reserve's monetary policy trajectory.
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Plan A: Remain long as long as gold price stays above 1703.1. Targets are 1734.4 and 1750.
Plan B: Attempts short only if gold price stays below 1703.1. Targets are 1687.5 and 1671.9.
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