Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Despite the fact that the index increased by about 15% in the first half of 2024, the Standard & Poor's 500 experienced its first weekly loss since late May.
The S&P 500 closed Friday's trading at 5,460.48, little lower than its closing level of 5,464.62 from the previous week. Even though this is the only week the market benchmark has seen a loss this month, it recorded a 3.5% gain for the entire month of June.
Even still, the index's first-half gain was less than the roughly 16% advance seen in the same period previous year.
Plan A: Long positions may be opened above 39600. Targets at 39764/40059 and stop-loss at 39400
Plan B: Consider short position may be opened below 39400. Targets at 39229/38989 and stop loss at 39600
E-Mini S&P 500
A look at the day ahead in European and global markets from Ankur Banerjee
European markets are poised for a strong start to the second half of the year after the first round of voting in France put the far-right National Rally (RN) party ahead, but with a smaller share than some polls had projected, lifting the euro to a two-week high.
Exit polls, which were in line with the opinion surveys, showed Marine Le Pen's RN party emerging ahead in the first round, winning around 34% of the vote, comfortably ahead of leftist and centrist rivals.
Plan A: Short if market supported firm below 5539. Targets at 5493/5464 and stop-loss at 5555
Plan B: Long if market break the resistance at 5550. Targets at 5567/5613 and stop loss at 5520
E-Mini Nasdaq
U.S. stocks ended weaker on Friday after an early rally fizzled as investors digested in-line inflation data and weighed political uncertainty after the U.S. presidential debate.
Nike had its steepest one-day fall in over two decades after a gloomy forecast.
"I don't think the inflation number changes much because the Federal Reserve has been pretty serious about their 2% target and remains disciplined," said Ann Miletti, Allspring's head of active equity.
Data showed U.S. monthly inflation was unchanged in May, an encouraging development after strong price increases earlier this year raised doubts over the effectiveness of the Fed's monetary policy.
Plan A: Short if market retraced but resisted firm 20035. Targets at 19798/19668 and stop-loss at 20100
Plan B: Long if market fall rise above 20040. Targets at 20200/20300 and stop loss at 19990
HSI
Following various concerns over their job at the livestream e-commerce business of China's New Oriental Education and Technology Group, East Buy Holding 1797 lost nearly 10% of its followers in less than a month, according to Yicai's report on Friday.
According to a study report by Topsperity Securities, East Buy is primarily becoming a sales platform for its items. Stock prices have fallen more than 9% in response to complaints, according to Yicai.
The article did point out that the management group needs to improve its methods. East Buy is currently ranked fifteenth in China among streamers.
Plan A: Consider long only if the market stays above 17600. Target at 17787/17944 and stop-loss at 17500
Plan B: Remain short if the market stays below 17500. Targets at 17449/17628 and stop loss at 17750
WTI Crude
In less than a month, East Buy Holding 1797 lost about 10% of its followers due to various issues regarding their employment at China's New Oriental Education and Technology Group's livestream e-commerce firm, according to Yicai's report on Friday.
As to a research report published by Topsperity Securities, East Buy is turning into more of a sales channel for its products. Yicai reports that in reaction to concerns, stock prices have dropped by more than 9%.
The management group needs to enhance its procedures, as the paper did bring out. Right now, East Buy is the fifteenth-ranked streamer in China.
Plan A: Remain long as long as oil price stays above 81.74. Targets at 82.52/83.49 and stop loss at 81.50
Plan B: Consider short only if oil price stays below 81.49. Targets at 80.77/79.99 and stop-loss at 82.30
Gold
Due to a dearth of stimulus, gold futures fell 0.1% to $2,336.3 a troy ounce after trading in a very small range for weeks. According to Nicky Shiels, metals strategist at MKS PAMP, the previous week was among the slowest for data, storylines, and trends. The markets were also noticeably apathetic, except from a small amount of attention paid to the first U.S. presidential debate. The market will be watching for information indicating U.S. stagflation going forward. Given that Treasuries have been notably data-sensitive, the precious metal has recently been able to profit from declines in the dollar and U.S. Treasury yields. As a result, Shiels warn that the summer for gold may not be as calm as some traders anticipate on an intraday to short-term basis.
Plan A: Remain short as long as gold price stays below 2340. Targets at 2329/2319 and stop-loss at 2345
Plan B: Attempts long only if gold price stays above 2350. Targets at 2360/2371 and stop loss at 2330
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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