Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Following the announcement by Federal Reserve Chair Jerome Powell that policymakers have made headway in reducing inflation, the S&P 500 and the Nasdaq Composite closed Tuesday at all-time highs.
Following a record close in the previous session, the tech-heavy Nasdaq increased by 0.8% to 18,028.8, and the S&P 500 gained by 0.6% to 5,509. The Dow Jones Industrial Average increased by 0.4% to 39,331.9. The sectors that saw the biggest gains were consumer discretionary and financials, with the exception of health care and energy.
Plan A: Long positions may be opened above 39733. Targets at 39778/39868 and stop-loss below 39673
Plan B: Consider short position may be opened below 39673. Targets at 39610/39532 and stop loss above 39705
E-Mini S&P 500
The stock market has opened well, as predicted, with the FTSE MIB FTSEMIB in Milan and the CAC 40 PX1 in Paris leading the way higher in Europe, up roughly 1.1% and 0.8%, respectively.
The German defense company Rheinmetall RHM, which is up 3.7% following a Handelsblatt article indicating Italy was intending to buy hundreds of the company's tanks, is among the large gainers on the STOXX 600, which is up 0.4%.
Following a Barclays upgrade, nuclear power company Drax DRX is up 4% and nearly at the top of the STOXX. After purchasing the entire rights to the COVID and influenza vaccines from German company CureVac CVAC, whose shares are up a stunning 21% on the day, GSK is down just 0.1%.
Plan A: Short if market supported firm below 5567. Targets at 5561/5554 and stop-loss at 5580
Plan B: Long if market break the resistance at 5570. Targets at 5579/5590 and stop loss at 5555
E-Mini Nasdaq
Due to advances in Tesla (TSLA) and megacap growth stocks, Wall Street's major stock indexes ended Tuesday's trading session higher. However, volume was light in anticipation of Friday's much expected announcement of the June nonfarm payrolls and the Fourth of July vacation.
According to the U.S. Job Openings and Labor Turnover Survey (JOLTS), there was a rise in job openings in May following two months of significantly lower numbers; yet, with the economy slowing down, layoffs surged.
The data is the first of many U.S. job reports this week; the release of June nonfarm payrolls on Friday, in particular, will be critical in determining if the country's labor market can withstand interest rates that are at an all-time high.
Plan A: Short if market retraced but resisted firm 20240. Targets at 20187/20120 and stop-loss at 20270
Plan B: Long if market fall rise above 20275. Targets at 20334/20413 and stop loss at 20235
HSI
Hong Kong corporations' net debt dropped 12.3% to roughly $55 billion at the end of June, according to a story published in The Standard on Wednesday. The post cited asset management group Janus Henderson, based in the UK.
According to the report, the reduction occurred as a result of most businesses choosing to reduce their loan obligations in order to survive the economic crisis.
The biggest factor in the number was Li Auto's 2015 debt, which was followed by Xiaomi 1810, according to the research.
Plan A: Consider long only if the market stays above 17696. Target at 17954/18048 and stop-loss at 17645
Plan B: Remain short if the market stays below 17850. Targets at 17778/17696 and stop loss at 17880
WTI Crude
Commerzbank stated in a report on Tuesday that the prices of energy commodities increased in the first half of the year, with natural gas and crude oil gaining ground in the second quarter to offset losses earlier in the year, indicating a solid rebound.
The bank pointed out that despite a poor start to the year, Brent, West Texas Intermediate, and gasoil all rebounded because of a good second quarter.
Due in large part to the Organization of the Petroleum Exporting Countries and its allies' voluntary production restrictions, which were extended through the end of the third quarter, the oil market is expected to remain undersupplied throughout the summer.
Plan A: Remain long as long as oil price stays above 83.30. Targets at 83.89/84.96 and stop loss at 83.00
Plan B: Consider short only if oil price stays below 83.25. Targets at 82.23/81.64 and stop-loss at 83.50
Gold
Global stock markets gained on Wednesday as remarks from Federal Reserve Chair Jerome Powell supported forecasts of imminent rate reduction in the United States and temporarily stopped the recent increase in Treasury rates and the value of the dollar.
With early trade seeing a 0.4% increase in Europe's broad STOXX 600 index SXXP, MSCI's world share index EURONEXT:IACWI rose 0.2% to a new high.
Asian stocks gained earlier in the day, with Japan's Nikkei NI225 rising 1.4% and closing around its record high reached in March following Tuesday's higher closing finish of Wall Street's major indexes.
Plan A: Remain short as long as gold price stays below 2336. Targets at 2325/2316 and stop-loss at 2340
Plan B: Attempts long only if gold price stays above 2350. Targets at 2362/2370 and stop loss at 2345
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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