Tuesday, April 23, 2024

24 April 2024 Foreign

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


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E-Mini Dow

The Dow Jones Industrial Average climbed 263.71 points, or 0.69%, to close at 38,503.69.

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Plan A: Remain long as long as market trades above 38089. Targets are 38251 and 38324.

Plan B: Consider short if market stays below 38089. Targets are 37825 and 37775.




E-Mini S&P 500

Stocks ripped higher for a second session on Tuesday as a strong batch of corporate earnings assuaged concerns over higher rates.

Roughly 20% of the S&P 500 has reported earnings through Tuesday. Of those companies, 76% have beaten analysts’ expectations, FactSet data shows.

Tuesday’s moves come after an upbeat session on Wall Street. Investors bought the dip in tech stocks after a recent sell-off in key names such as Nvidia, which had been dinged recently amid fears of higher inflation and the prospect of elevated interest rates.


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Plan A: Long if market supported firm above 5080. Targets are 5101 and 5118.

Plan B: Short if market failed to support above 5080. Targets are 5071 and 5063.



E-Mini Nasdaq

Spotify surged 11.4% after surpassing Wall Street’s first-quarter estimates and issuing rosy second-quarter guidance. UPS shares edged 2.4% higher after the delivery giant surpassed expectations for earnings. Shares of GE Aerospace added 8.3% after the company reported an earnings beat. PepsiCo, meanwhile, dipped 2.9% after reporting that recalls and a weaker lower-income consumer hurt demand in the U.S.

Tesla is slated to report earnings after the bell, followed by Meta Platforms on Wednesday afternoon. Google parent company Alphabet and Microsoft round out the technology-heavy earnings week on Thursday.

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Plan A: Long if market retraced but supported firm above 17256. Targets are 17285 and 17312. 

Plan B: Short if market fall below 17256. Target are 17212 and 17174.

HSI
Hong Kong stocks extended gains into a third straight day on Wednesday following another strong advance on Wall Street as traders welcomed healthy earnings from US tech giants.

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Plan A: Remain short if the market stays below 16426. Targets are 16396 and 16362.

Plan B: Consider long only if the market stays above 16426. Targets are 16469 and 16500.


WTI Crude
Oil prices rose by more than $1 a barrel on Tuesday as the U.S. dollar index fell to its lowest level in more than a week and investors shifted their focus away from tensions in the Middle East to the state of global economies.

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Plan A: Remain short as long as oil price stays below 82.76. Targets are 80.25 and 78.14.

Plan B: Consider long only if oil price stays above 82.76. Targets are 83.15 and 85.20.


Gold
Gold prices steadied on Tuesday after hitting a more than two-week low on diminishing fears about an escalation of tensions in the Middle East, with investors awaiting key economic data for further clarity on the timeline on U.S. interest rate cuts.
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Plan A: Remain short as long as gold price stays below 2446.87. Targets are 2431.25 and 2419.53.
Plan B: Attempts long only if gold price stays above 2446.87. Targets are 2454.68 and 2462.50.


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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29 April 2024 Foreign

                WTI Crude, Gold, HSI, Dow,  S&P 500 and Nasdaq If you like what we are doing, kindly like and share our page on FB. Foll...