20 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 was little changed at 42,342.2, breaking a 10-day losing streak. Among sectors, real estate saw the steepest decline, while utilities led the gainers.

In economic news, US third-quarter real gross domestic product rose at a 3.1% annual rate, according to a final estimate by the Bureau of Economic Analysis, up from its previous estimate indicating 2.8% growth, which was the consensus in a Bloomberg-compiled poll.

(News Source: MTNews)

Plan A: Sell below 42, 800, target  around 42, 672/ 42, 551

Plan B: Long above 42, 800, Target around 42, 984/43, 102

E-Mini S&P500

US stock futures were little changed on Friday as investors braced for the upcoming PCE price index report, the Federal Reserve’s preferred measure of inflation.

Fed Chair Jerome Powell stated this week that the PCE is likely to show the 12-month inflation rate remains above the central bank’s 2% target.

(News Source: Tradingeconomics)

Plan A: Short if below 5941 target around 5920, 5899

Plan B: Long if supported above 5941, target around 5078/6005

E-Mini Nasdaq

U.S. stock futures fell in Asian trade on Friday after a spot-gap spending bill backed by President-elect Donald Trump was voted down in Congress, raising the prospect of a government shutdown.

The Nasdaq 100 Futures fell 0.5% to 21,263.0 points by 22:10ET (0.:10 GMT). Futures extended losses after falling slightly in Thursday evening trade.

The bill was assembled at the eleventh hour by policymakers to include Trump's demands for higher government spending and a raised debt ceiling. But the spending bill was rejected in a 174-235 vote in the House of Representatives, with several Republican senators also openly defying the President-elect.

A government shutdown presents another layer of uncertainty for Wall Street, which was already nursing steep losses from earlier this week after the Federal Reserve cut interest rates but flagged a substantially slower pace of rate cuts in 2025.

Focus this Friday is also on key upcoming PCE price index data for November. The reading is the Fed's preferred inflation gauge, and is likely to factor into the outlook for interest rates.

(News Source: Investing.com)

Plan A: Short if prices failed to support above 21,329. Targets are 20,807/20,412.

Plan B: Consider long if market supported above 21,329. Targets are 21,707/21,921.

WTI Crude Oil

Early Friday trading saw a decline in oil prices due to concerns about 2025 demand growth, particularly in China, the world's largest importer of crude. As a result, global oil benchmarks are expected to close the week lower than 2%.

By 0139 GMT, Brent crude futures dropped 31 cents, or 0.43%, to $72.57 a barrel. At $69.12 a barrel, U.S. West Texas Intermediate crude futures dropped 26 cents, or 0.26%.

In its annual energy outlook, which was made public on Thursday, China's state-owned refiner Sinopec predicted that as demand for gasoline and diesel declines, the country's oil consumption will peak by 2027 and that imports could peak as early as 2025.

(News Source: Reuters)

Plan A: Short if prices rebounded but resisted around 69.20. Targets are 68.52/67.21.

Plan B: Consider long if market breakout above 70.00. Targets are 70.80/71.72.

Gold

Gold prices were on course for a weekly decline on Friday after the Federal Reserve signaled a slower pace of rate cuts in its monetary policy outlook. Market attention turned to the upcoming U.S. Personal Consumption Expenditure (PCE) data due later in the day.

As of 1126 MYT, spot gold remained steady at $2,596.89 per ounce, reflecting a weekly loss of about 2%.

(News Source: Reuters)

Plan A: Consider long if market break above 2620, Targets at 2632/2641.

Plan B: Short if market prices rebounded but failed to support above 2635. Targets are 2626/2615.

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.