12 Jan 2023 Foreign

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

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E-Mini Dow

U.S. stocks ended up sharply on Wednesday, with the S&P 500 and Nasdaq gaining more than 1% each as investors were optimistic ahead of an inflation report that could give the Federal Reserve room to dial back on its aggressive interest rate hikes.

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Plan A: Remain long as long as market trades above 33594. Targets are 34082 and 34180.

Plan B: Consider short if market stays below 33594. Targets are 33496 and 33203.

E-Mini S&P 500

Stocks rose Wednesday as investors grew increasingly confident Thursday’s consumer price index will show cooling inflation and signal to the Federal Reserve that previous interest rates hikes have had their intended effects.

The Dow Jones Industrial Average closed up 268.91 points, or 0.80%, at 33,973.01. The S&P 500 gained 1.28% to end at 3,969.61. The Nasdaq Composite led the indexes for another day, adding 1.76%, to close at 10,931.67.

Economists polled by Dow Jones expect the CPI to show prices cooled by a modest 0.1% in December from the prior month. The forecast still calls for a 6.5% increase from the prior year. Excluding food and energy prices, economists expect the CPI for December will be 0.3% higher than the prior month and 5.7% higher than a year ago.

After CPI, investors will follow big bank quarterly results on Friday, which kick off a new earnings season.

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Plan A: Long if market supported firm above 3966. Targets are 3982 and 4000.

Plan B: Short if market failed to support above 3966. Targets are 3950 and 3932.

E-Mini  Nasdaq

Stock futures were little changed in overnight trading Wednesday as investors awaited a key inflation report to assess the outlook for the Federal Reserve’s rate-hiking campaign.

All eyes are on December’s consumer price index reading with the consensus forecast calling for a slight easing in price pressures.

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Plan A: Short if market failed to support above 11390. Targets are 11349 and 11305.

Plan B: Long if market failed to support above 11390. Targets are 11441 and 11492.

HSI

The stock market in Hong Kong rose 104 points or 0.49% to end at 21,436 on Wednesday, trading near six-month tops after ending lower in the prior session, amid bets that December's upcoming US CPI data will ease further and supported the case for the Fed to slow its tightening path.

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Plan A: Remain long if the market stays above 21406. Targets are 21875 and 22031.

Plan B: Consider short only if the market stays below 21406. Targets are 21250 and 21094.

WTI Crude

crude oil closed up more than 3% on Wednesday on hopes for a recovery in Chinese demand even after the Energy Information Administration reported an oversized rise in US oil inventories last week.

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Plan A: Remain long as long as oil price stays above 75. Targets are 78.13 and 79.69.

Plan B: Consider short only if oil price stays below 75. Targets are 74.22 and 73.44.

Gold

Gold prices held steady after touching an eight-month peak on Wednesday as investors positioned themselves ahead of U.S. inflation data that could influence the Federal Reserve's policy path.

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Plan A: Remain long as long as gold price stays above 1867.2. Targets are 1882.8 and 1890.6.

Plan B: Attempts short only if gold price stays below 1867.2. Targets are 1851.6 and 1843.8.

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.