18 Dec 2024 Global Index Futures

 Crude, Gold, Dow, S&P 500 and Nasdaq

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E-Mini Dow

The Dow Jones Industrial Average declined for the ninth straight day as the Federal Reserve kicked off its two-day monetary policy meeting and traders evaluated the latest economic data.

Markets widely expect that the central bank's Federal Open Market Committee will deliver a quarter-percentage-point reduction in its benchmark lending rate Wednesday, according to the CME FedWatch tool. That would mark a second consecutive 25-basis-point decrease following a 50-basis-point reduction in September.

(News Source: MTNews)

Plan A: Sell below 44, 150, target  around 44, 020/ 43, 978

Plan B: Long above 44, 150, Target around 44, 264/44, 392

E-Mini S&P500

US stock futures remained volatile on Wednesday as investors geared up for the latest monetary policy decision from the Federal Reserve.

The central bank is widely expected to lower rates by 25 basis points, but may signal fewer rate cuts than previously indicated in 2025, given persistent inflationary pressures.

(News Source: Tradingeconomics)

Plan A: Long if supported above 6120, target around 6147/6068

Plan B: Short if below 6120 target around 6085, 6062

E-Mini Nasdaq

U.S. stock index futures edged lower on Tuesday evening following a negative session on Wall Street, as caution grew before the Federal Reserve's final interest rate decision for the year.

Markets have fully priced in a 25 basis point cut at the end of a Fed meeting on Wednesday, while the focus will be on long-term rate outlook signals. The Fed is expected to adopt a slower rate cut path after lowering rates in December.

S&P 500 Futures inched 0.1% lower to 6,119.0 points, while Nasdaq 100 Futures fell 0.3% to 22,252.25 points by 18:40 ET (23:38 GMT). 

Investors expect the Fed to indicate a slower pace of rate cuts in 2025, as persistent inflation and a strong labor market—two key challenges for the Fed—continue to pose concerns.

Earlier in the day, data showed that retail sales rose by 0.7% in November, above the 0.5% forecast. 

Stronger-than-expected retail sales data signals that the economy remains strong and consumer spending remains robust, despite challenges like inflation and high interest rates. 

(News Source: Investing.com)

Plan A: Short if prices failed to support above 22,326. Targets are 22,209/22,094.

Plan B: Consider long if market supported above 22,326. Targets are 22,419/22,555.

WTI Crude Oil

WTI crude oil hovered above $69 per barrel on Wednesday, pausing a two-day decline, as an industry report pointed to a larger-than-expected drop in US crude inventories.

API data showed that US crude oil stocks fell by 4.7 million barrels last week, surpassing forecasts of a 1.9 million barrel draw, which would mark a fourth straight decline if confirmed by official data later on Wednesday.

Meanwhile, market attention is focused on the Federal Reserve’s policy decision, with expectations of a 25 basis point rate cut. Such a move could boost economic growth and, in turn, oil demand.

Nevertheless, oil prices remain under pressure following renewed concerns over Chinese demand, fueled by unexpected weakness in consumer spending data from China. These worries are compounded by projections of strong production growth from non-OPEC+ countries in the coming year.

(News Source: Tradingeconomics)

Plan A: Short if prices rebounded but resisted around 70.54 Targets are 69.09/68.08.

Plan B: Consider long if market failed to support above 69.74. Targets are 70.54/71.46.

Gold

Gold prices edged higher on Wednesday as attention turned to the Federal Reserve's upcoming monetary policy decision, with the U.S. central bank anticipated to implement a third rate cut this year and provide insights into its plans for 2025.

Spot gold nudged 0.1% higher to $2,648.43 per ounce by 0237 GMT. U.S. gold futures were flat at $2663.20.

The U.S. Fed began its two-day policy meeting on Tuesday, with focus on the central bank's updated economic projections and the dot plot, which could alter expectations for the rate trajectory through 2025 and 2026.

U.S. retail sales increased more than expected in November, adding to warmer inflation readings in recent months and suggesting that the central bank could pause rate reduction in January.

(News Source: Reuters)

Plan A: Consider long if market supported firm above 2660. Targets are 2682/2723.

Plan B: Short if market prices failed to support above 2660. Targets are 2644/2636.

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.