28 Apr 2023 Foreign

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

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E-Mini Dow

Wall Street closed sharply higher on Thursday, with the Dow Industrials and S&P 500 snapping two-session losing streaks as a surge in Meta shares helped spark a broad rally after its quarterly results.

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Plan A: Remain long as long as market trades above 33594. Targets are 33984 and 34180.

Plan B: Consider short if market stays below 33594. Targets are 33301 and 33105.

E-Mini S&P 500

S&P climbed 1.96% to end at 4,135.35. It was the best day since January for the Dow and S&P 500 and since March for the Nasdaq.

Stocks rose despite weaker-than-expected GDP data, which may suggest to some investors that the Federal Reserve could soon wrap up its tightening campaign. The Fed is slated announce its latest policy decision next week.

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Plan A: Long if market supported firm above 4127. Targets are 4139 and 4150.

Plan B: Short if market failed to support above 4127. Targets are 4111 and 4100.

E-Mini Nasdaq

Stocks finished Thursday higher as strong results from Meta Platforms boosted tech-related names.

The U.S. economy grew 1.1% in the first quarter, while economists polled by Dow Jones forecasted an expansion of 2%. The report also showed stronger-than-expected inflation, with prices increasing 4% compared with a consensus estimate of 3.7%.

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Plan A: Long if market retraced but supported firm above 13130. Targets are 13168 and 13199.

Plan B: Short if market failed to support above 13130. Targets are 13100 and 12962.

HSI

Hong Kong stocks clawed back early losses to close higher on Thursday, despite a major IPO by a Chinese baijiu maker fizzling on its debut.

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Plan A: Remain long if the market stays above 19688. Targets are 20156 and 20313.

Plan B: Consider short only if the market stays below 19688. Targets are 19531 and 19375.

WTI Crude

crude oil steadied on Thursday, closing with a small gain following two days of losses that cut prices by 5.6% to the lowest since late March, prior to OPEC+'s surprise 1.1-million barrel per day production cut, as demand fears continue after the United States reported its first-quarter gross domestic product rose less than expected.

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Plan A: Remain long as long as oil price stays above 73.44. Targets are 75.78 and 77.34.

Plan B: Consider short only if oil price stays below 73.44. Targets are 72.66 and 71.88.

Gold

Gold reversed course and dropped on Thursday, as the dollar gained after weaker U.S. economic readings failed to upend expectations of another interest rate hike by the Federal Reserve next week amid stubborn inflation.

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Plan A: Remain short as long as gold price stays below 2000. Targets are 1984.4 and 1976.6.

Plan B: Attempts long only if gold price stays above 2000. Targets are 2011.7 and 2019.5.

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.