10 Dec 2024 Global Index Futures

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

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E-Mini Dow

US benchmark equity indexes fell Monday as markets assessed an inflation survey and awaited official price growth data for November due later in the week.

In economic news, US consumers' inflation expectations rose slightly in November, while optimism regarding year-ahead financial situations improved "considerably," according to a survey by the Federal Reserve Bank of New York.

Government data are expected to show Wednesday that US consumer inflation rose 0.2% sequentially and 2.7% annually last month, according to a Bloomberg-compiled consensus. In October, the US consumer price index increased 0.2% month on month and 2.6% on an annual basis.

(News Source: MTNews)

Plan A: Short if market resisted below 44,500. Targets are 44,480/44,479. 

Plan B: Long if market retraced but supported firm above 44,500. Targets are 44,588/44,662. 

E-Mini S&P500

A look at the day ahead in European and global markets from Tom Westbrook

China's equity markets have chosen to run with the authorities' latest vague promise of support for the sputtering economy, with stocks surging to their highest levels in nearly a month.

Warning signs, or at least more circumspection, seemed evident in China's foreign exchange market, which hardly budged, and bonds, which rallied while pushing yields to record lows - showing doubt over whether growth is really going to pick up.

As China-watcher and Carnegie China senior fellow Michael Pettis noted on X, plenty of debt has piled up under "prudent" conditions without re-invigorating domestic demand.

(News Source: MTNews,Tradingeconomics)

Plan A: Short only if market failed to support above 6,080. Targets are 6,064/6048. 

Plan B: Long if market retraced but supported firm above 6,080. Targets are 6,099/6,119.

E-Mini Nasdaq

Global shares turned lower on Monday as traders focused on U.S. inflation data and chip stocks fell, while Beijing's promise of stimulus and the sudden collapse of the Syrian government boosted oil and gold prices more than 1%.

The Nasdaq Composite fell 123.08 points, or 0.62%, to 19,736.69.

Shares of chip maker Nvidia fell 2.5% after China's market regulator said it had opened an investigation into the company over suspected violation of the country's antimonopoly law.

U.S. inflation data this week could cement a December interest rate cut by the Federal Reserve at its meeting next week. China's decision on Monday to alter the wording of its stance toward monetary policy for the first time since 2010 helped global sentiment. Beijing pledged to introduce stimulus to encourage economic growth next year.

Friday's U.S. monthly employment data was strong enough to soothe any concerns about the resilience of the economy, but not so robust as to rule out a rate cut from the Federal Reserve next week.

(News Source: Reuters)

Plan A: Long only if market retraced but supported firm above 21,340. Targets are 21,449/21569. Take reasonable stop loss for each trade. 

Plan B: Short only if market rebounded but failed to support above 21,498. Targets are 21,342/21,131.  Take reasonable stop loss for each trade. 

Hang Seng

The Hang Seng soared 548 points or 2.8%, the largest one-day gain since early October, to end at a near one-month high of 20,414 on Monday, boosted by solid gains across sectors.

This surge came after a muted morning session, with traders looking beyond CPI and PPI data following remarks from the Chinese Politburo that the government and the PBoC will implement a more proactive fiscal policy and moderately loose monetary policy next year. It also said China will ramp up "unconventional" counter cyclical adjustments to reverse a slowdown.

Meanwhile, President Xi JinPing and other top leaders are preparing for the annual Central Economics Work Conference this week, which will review policy implementation for 2024 and set priorities for 2025. However, some investors exercised cation over a week dominated by central bank decisions and key US inflation data.  

(News Source: tradingeconomics)

Plan A: Long if market retraced but supported firm above 20,510. Targets are 20925/21045/21348. Take reasonable stop loss for each trade. 

Plan B: Short only if market failed to support above 20,925. Targets are 20,510/20,259. Take reasonable stop loss for each trade. 

WTI Crude Oil

As worries over the consequences of the ouster of Syrian President Bashar al-Assad subsided, oil prices fell on Tuesday. However, the market found solace in China's promise to increase economic stimulus, which may increase demand from the world's largest importer of petroleum.

At $71.82 a barrel, Brent crude futures were down 32 cents, or roughly 0.4%. At 0458 GMT, U.S. West Texas Intermediate oil futures were down 37 cents, or 0.5%, at $68. On Monday, both benchmarks increased by over 1%.

"The tensions in the Middle East seem contained, which led market participants to price for potentially low risks of a wider regional spillover leading to significant oil supply disruption," Yeap Jun Rong, a market strategist at IG,

(News Source: Reuters)

Plan A: Long if supported at above 68.11. Targets are 69.14/69.91.

Plan B: Consider short if break down 67.45, Targets are 67.01/66.31

Gold

Gold climbed above $2,660 per ounce on Tuesday, rising for the second consecutive session, supported by China’s policy shift and geopolitical risks in the Middle East. China's ruling Politburo on Monday announced plans to loosen monetary policy for the first time in 14 years to stimulate the economy, boosting market sentiment across commodities.

(News Source: Tradingeconomics)

Plan A: Consider long if break up 2660, Targets are 2682/2701.

Plan B: Short if resisted at below 2660. Targets are 2641/2620.

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 the investment.