4 Dec 2024 Global Index Futures

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

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E-Mini Dow

The Dow finished slightly lower yesterday, fell 76.47 points, or 0.17%, to 44,705.53.

Marketwatchers also digested reassuring comments from Federal Reserve policymakers. Two policy makers said they see inflation heading down to the U.S. central bank's 2% target and that the job market is "solid".

They stayed away from signaling whether they would support another interest rate cut later this month. On Monday, Fed Governor Christopher Waller said he was inclined "at present" to support another rate cut this month.


(News Source: Reuters)

Plan A: Long above 44, 900, Target around 44, 950/44, 990

Plan B: Sell below 44, 900, target  around 44, 852/ 44,790

E-Mini S&P500

The S&P 500 gained 2.73 points, or 0.05%, to 6,049.88. Among S&P 500 sectors, technology, communication services and consumer discretionary were the only gainers, extending their advance on Monday.

The S&P 500 advanced 5.7% in November as former U.S. President Donald Trump recaptured the White House in the Nov. 5 Election and his Republican Party swept both houses of Congress. The index i sup roughly 27% for the year to date.

A report on Tuesday showed U.S. job openings increased solidly in October while layoffs dropped by the most in 1-1-2 years.


(News Source: Reuters)

Plan A: Long if supported above 6050, target around 6069/6080

Plan B: Short if below 6050, target around 6039, 6015

E-Mini Nasdaq

The S&P 500 and Nasdaq eked out record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data. The Nasdaq Composite gained 76.96 points, or 0.4%, to 19,480.91.

Investors will pay close attention to the U.S. monthly employment report on Friday. They also keen to see other data this week, including a November reading of private payrolls and the Institute for Supply Management's services report.

On the Nasdaq, 1,647 stocks rose and 2,732 fell as declining issues outnumbered advancers by a 1.66-to-1 ratio.


(News Source: Reuters)

 

Plan A: Long if market retraced but supported firm above 21,261. Targets are 21,350/21,455.  Take reasonable stop loss for each trade. 

Plan B: Short only if market failed to support above 21,261. Targets are 21,082/20903.  Take reasonable stop loss for each trade. 

Hang Seng

The Hang Seng surges 196 points or 1.0% to close at 19,746 on Tuesday, rebounding from morning session losses after China's central bank pledged to adopt a supportive policy stance next year and reduce financing costs for companies and households.

Governor Pan Gongsheng also mentioned his intentions to continue reforming the PBoC's monetary policy framework and expanding its policy tools. The index closed higher for the third session, with positive sentient bolstered by a Bloomberg News report that China's top leaders are scheduled to begin the annual closed-door Central Economic Work Conference next Wednesday to set goals and devise stimulus plans for 2025.

Investors also looked past new US chip curbs, as Beijing firmly signaled it will take necessary measures to guard its interests. All sectors gained, led by financials and property. 

(News Source: tradingeconomics.com)

Plan A: Long if market retraced but supported firm above 19613. Targets are 19780/19890. Take reasonable stop loss for each trade. 

Plan B: Consider short only if market failed to support above 19613. Targets are 19510/19350. Take reasonable stop loss for each trade. 

WTI Crude Oil

As market players await the results of an OPEC+ meeting later this week, oil prices are stable in early Asian trading. According to an email from Tickmill's managing partner, Joseph Dahrieh, "Traders could adopt a 'wait-and-see' approach ahead of the meeting, where OPEC+ is expected to extend its current output cuts until the end of the first quarter of 2025," The prolongation of output reduction might provide some temporary assistance. However, Dahrieh notes that the likelihood of oversupply restricts any meaningful upside, and the overall market price action points to a pessimistic prognosis for oil prices in the near to medium term. WTI and Brent crude oil futures for the upcoming month are both steady at $69.97 and $73.64 per barrel, respectively.

(News Source: Dow Jones Newswire)

Plan A: Short if resisted at below 69.36. Targets are 68.49/67.50.

Plan B: Consider long if break up 70.24, Targets are 71.10/72.32

Gold

Gold prices edged higher on Wednesday, driven by safe-haven demand as markets awaited U.S. jobs data and comments from Federal Reserve Chair Jerome Powell for guidance on the future trajectory of interest rate cuts. Spot gold rose 0.2% to $2,649.09 per ounce as of 1:55 PM MYT, while U.S. gold futures gained 0.1% to $2,671.20.

(News Source: Reuters)

Plan A: Short if resisted at below 2680. Targets are 2665/2645.

Plan B: Consider long if break up 2690, Targets are 2701/2711.

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.