24 January 2025 Global Index Futures

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

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E-Mini Dow

The Dow Jones advanced 408.34 points, or 0.92%, to 44,565.07, while the Nasdaq Composite rose 0.22% to 20,053.68. Thursday marked the fourth straight winning session for all three major indexes.

The stock market has gotten a boost this week from excitement about potential tax cuts and deregulation under Trump, as well as signs of resilient economic growth. While tariffs remain an overhang, investors have been pleased with the lack of formal action on these levies during Trump’s first days back in the White House.

(News Source: CNBC)

Plan A: Long only if market supported firm above 44,658. Targets around 44,784/45,165.

Plan B: Sell if market failed to support above 44,717. Targets around 44,658/44,412.

E-Mini S&P500

The S&P 500 rallied to record highs on Thursday after President Donald Trump called for lower interest rates and cheaper oil prices.

The broad market index added 0.53%, notching an all-time intraday high for the second straight session. The benchmark finished the day at 6,118.71, surpassing its prior all-time closing high of 6,090.27 recorded in early December.

The fourth-quarter earnings season is also off to a strong start, with Netflix and big banks offering positive reports. But Americans Airlines poured some cold water on that enthusiasm, with the stock tumbling more than 8% on Thursday after the company issued weak guidance.

(News Source: CNBC)

Plan A: Short if prices failed to support above 6,135. Targets around 6,105/6,046.

Plan B: Long if prices well supported above 6,135. Targets around 6,152/6,203.

E-Mini Nasdaq

Technology stocks underperformed on Thursday, dragging down the Nasdaq. The tech-heavy index slid 0.2% on Thursday, relinquishing some gains after jumping more than 1% in the prior session. By comparison, the S&P 500 ticked higher in Thursday’s session.

Electronic Art dropped more than 17% after slashing guidance, making it the worst performer in the concentrated Nasdaq 100. Arm Holdings and Micron Technology were also among the biggest losers, sliding more than 7% and 4%, respectively.

(News Source: CNBC)

Plan A: Short if prices resilient to 21,995. Targets are 21,893/21,568.  Place a reasonable stop order based on the assessment of the risk and reward ratio.

Plan B: Long only if market supported firm above 21,893. Targets are 22,112/22,385. Place a reasonable stop order based on the assessment of the risk and reward ratio.

WTI Crude Oil

WTI crude oil futures fell toward $74 per barrel on Friday, marking its sixth consecutive decline and heading for its worst week since November, following President Trump’s call for lower crude prices.

Speaking at the Davos forum on Thursday, Trump announced plans to urge Saudi Arabia and OPEC to reduce oil prices, aligning with his administration's energy development priorities. This added to market pessimism, as traders remained cautious about the impact of Trump’s proposed tariffs on global economic growth and energy demand.

On the supply side, EIA data showed US crude inventories fell by 1 million barrels last week, marking a ninth consecutive decline and falling below the five-year seasonal average, contrary to an earlier industry report predicting a build. Meanwhile, distillate fuel stocks saw a sharp drop, while gasoline inventories continued to rise.

(News Source: Tradingeconomics)

Plan A: Long if prices supported firm above 75.08. Targets are 76.02/77.14.

Plan B: Consider short if market failed to support above 75.08. Targets are 73.68/72.44.

Gold

Gold rose above $2,770 per ounce on Friday, reaching its highest level since October, just shy of its record high of $2,790, after President Trump called for an immediate reduction in interest rates. This magnified gold's safety appeal, with lower rates making the non-interest-bearing precious metal more attractive.

Traders continued to flock to safe-haven assets, remaining cautious amid uncertainty over the impact of Trump’s proposed tariffs and immigration policies. A weaker US dollar also supported the upward trend.

Meanwhile, investors are closely watching upcoming policy announcements from global central banks. The BoJ is widely expected to raise interest rates on Friday, while the Fed is anticipated to hold rates next week, and the ECB is expected to cut them. For the week, gold is set to mark its fourth consecutive weekly gain.

(News Source: Tradingeconomics)

Plan A: Consider long only if market supported firm above 2,761. Targets at 2,790/2,802.

Plan B: Short if market prices failed to support above 2,774. Targets are 2,760/2,754.

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.