9 Dec 2024 Global Index Futures

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

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E-Mini Dow

The Dow Jones Industrial Average fell 0.3% to 44,642.5. Consumer discretionary led the gainers among sectors, while energy saw the biggest drop.

In economic news, total nonfarm payrolls in the US climbed by 227,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 220,000 increase, according to a survey compiled by Bloomberg. The unemployment rate rose to 4.2% from October's 4.1%, which was the market view for last month. 

US consumer sentiment reached the highest level in seven months, while year-ahead inflation expectations hit the highest reading in six months, preliminary December results from the University of Michigan's Surveys of Consumers showed.

(News Source: MTNews)

Plan A: Short if market resisted below 44,700. Targets are 44,626/44,599. 

Plan B: Long if market retraced but supported firm above 44,700. Targets are 44,710/44,819. 

E-Mini S&P500

The S&P 500 closed at all-time highs Friday as official data showed the economy added more jobs than projected in November.

US stock futures were little changed on Monday as investors await crucial inflation data later this week, which could influence the Federal Reserve's next interest rate decision.

Economic data released Friday showed that the US economy added more jobs than expected in November, yet market expectations for a 25 basis point rate cut from the Fed this month remain intact.

(News Source: MTNews,Tradingeconomics)

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

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

E-Mini Nasdaq

The S&P 500 and Nasdaq Composite rose to fresh records on Friday after November jobs data came in slightly better than expected, but not so hot as to deter the Federal Reserve from cutting rates again later this month.

The Nasdaq advanced 0.81% to 19,859.77, bolstered by gains in Tesla Meta Platforms and Amazon. The index touched new all-time highs during the session and closed at records. The index went on to their third straight positive week, rising 3.34%.

The November labor report, released Friday morning, reveled that non-farm payrolls increased by 227,000 last month, above the Dow Jones estimate of 214,000 and marking a hugh hike from October's upwardly revised gain of 36,000. The unemployment rate nudged up to 4.2%, as expected.

(News Source: CNBC)
 

Plan A: Long if market retraced but supported firm above 21,549. Targets are 21,700/21900. Take reasonable stop loss for each trade. 

Plan B: Short only if market failed to support above 21,549. Targets are 21,342/21,131.  Take reasonable stop loss for each trade. 

Hang Seng

Hong Kong stocks dropped from four-week high after an official report showed China's deflationary pressure is lingering.

The Hang Seng Index fell 0.2% to 19,819.50 as of 10:03am local time. 

Asian stocks dropped, as investors grappled with South Korea's deepening political crisis and awaited fresh stimulus from Beijing. 

China's consumer inflation decelerated in November, in a sign government effort to support the economy and sentiment haven't been enough to turn around the weak demand.

(News Source: SCMP)

Plan A: Long if market retraced but supported firm above 19,774. Targets are 19,964/20,147. Take reasonable stop loss for each trade. 

Plan B: Short only if market failed to support above 19,774. Targets are 19,670/19,439. Take reasonable stop loss for each trade. 

WTI Crude Oil

Monday saw an increase in oil prices as the Middle East became more unpredictable following the overthrow of Syrian President Bashar al-Assad's government, but the gains were restrained by a declining demand projection for the upcoming year.

In a fast offensive that sparked concerns of a fresh wave of instability in a country already engulfed in conflict, Syrian rebels declared on state television on Sunday that they had overthrown President al-Assad, ending a 50-year family dynasty.

According to Tomomichi Akuta, senior economist at Mitsubishi UFJ Research and Consulting, "the development in Syria has added a new layer of political uncertainty in the Middle East, providing some support to the market."

(News Source: Reuters)

Plan A: Long if supported at above 67.56. Targets are 68.99/70.81.

Plan B: Consider short if break down 67.40, Targets are 66.60/65.73

Gold

Gold rose above $2,640 per ounce on Monday, driven by its safe-haven appeal amid renewed geopolitical tensions in the Middle East, as well as growing expectations of a US rate cut.

On Sunday, rebel forces in Syria have ousted President Bashar al-Assad, marking an end to the Assad family's 50-year rule and raising concerns about a new wave of instability in the region.

(News Source: Tradingeconomics)

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

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

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.