Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow advanced 308.51 points, or 0.69%, to 45,014.04. All three major averages hit all-time highs during the session and closed at records, with the 30-stock Dow ending above the 45,000 threshold for the first time.
Wednesday's moves come as investors await new U.S. employment data due Friday. Economists polled by Dow Jones expect the U.S. economy added 214,000 jobs in November.
The economy is stronger than it appeared in September when the central bank began cutting interest rates, allowing policymakers to potentially be a little more cautious in reducing rates further, Powell said at a New York Times event.
(News Source: CNBC.com)
Plan A: Long if market retraced but supported firm above 45,000. Targets are 45,162/45,315. Take reasonable stop loss for each trade.
Plan B: Short only if market failed to support above 45,000. Targets are 44,892/44,683. Take reasonable stop loss for each trade.
E-Mini S&P500
During Wednesday's trading session trading session, the three major averages saw solid gains, with the S&P 500 and the Nasdaq Composite scoring new closing records. The Dow also closed above 45,000 for the first time.
The broad market index gained 0.61%, closing at 6,086.49.
A report released on Wednesday from ADP revealed that private payrolls grew less than expected in November. Companies added just 146,000 on the month, while economists polled by Dow Jones had estimated growth of 163,000 positions.
The data could give investors insight into the Federal Reserve's next policy moves. Markets showed little reaction on Wednesday after Fed Chair Jerome Powell said the economy was strong enough for the central bank to proceed cautiously on rate cuts.
(News Source: CNBC.com)
Plan A: Long if market retraced but supported firm above 6,054. Targets are 6,073/6,102. Take reasonable stop loss for each trade.
Plan B: Short only if market failed to support above 6,054. Targets are 6,035/6018. Take reasonable stop loss for each trade.
E-Mini Nasdaq
U.S. stock futures were relatively unchanged on Wednesday night following a record day for stocks.
Nasdaq-100 futures moved 0.1% lower.
The economy is stronger than it appeared in September when the central bank began cutting interest rates, allowing policymakers to potentially be a little more cautious in reducing rates further, Powell said at a New York Times event.
(News Source: CNBC.com)
Plan A: Long if market retraced but supported firm above 21,342. Targets are 21,550/21,691. Take reasonable stop loss for each trade.
Plan B: Short only if market failed to support above 21,342. Targets are 21,082/20903. Take reasonable stop loss for each trade.
Hang Seng
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WTI Crude Oil
WTI crude oil futures stabilized around $68.7 per barrel on Thursday, slightly recovering from a 2% drop in the previous session, as traders await the pivotal OPEC+ meeting later in the day for its production policy decisions.
The producer group is reportedly close to an agreement to postpone its plan to increase output by another three months to prevent a supply glut in the coming year. Meanwhile, EIA data released showed a mixed outlook, as US crude stockpiles fell by over 5 million barrels, marking the largest weekly decline since August.
However, nationwide crude production reached a record high, highlighting strong output from non-OPEC+ countries. Elsewhere, oil prices found some support from the geopolitical risk premium amid a shaky ceasefire between Israel and Hezbollah, political unrest in South Korea, and the escalating conflict in Syria that could draw in oil-producing nations.
(News Source: Tradingeconomics.com)
Plan A: Short if resisted at below 69.32. Targets are 68.22/67.80.
Plan B: Consider long if break up 69.32, Targets are 70.55/71.48.
Gold
Gold prices remained subdued on Thursday as investors stayed cautious ahead of the U.S. payrolls data, which could offer further insights into the Federal Reserve's monetary policy direction.
By 3:26 PM MYT, spot gold dipped 0.1% to $2,648.02 per ounce, while U.S. gold futures also fell 0.1% to $2,672.90.
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.
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