10 Feb 2025 Global Index Futures

Crude, Gold, Dow, S&P 500 and Nasdaq

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E-Mini Dow

The Dow Jones Industrial Average sank 444 points, or 1%, and a sharp fall for Amazon after its latest profit report dragged the Nasdaq composite to a market-leading loss of 1.4%.

US stock indices slipped on Friday after the weak jobs data and a consumer sentiment survey.

The Labor Department data showed the United States added fewer jobs than expected in January while unemployment ticked down.

Total US employment rose by 143,000 jobs last month, significantly lower than the revised 307,000 figure in December.

The University of Michigan's preliminary index on consumer sentiment for February came in at 67.8, compared to a forecast of 71.1.

The yield on 10-year Treasuries rose 5 basis points to 4.48 per cent.

(News Source: Livemint)

Plan A: Long only if market retraced but supported firm above 44,532. Targets around 44,741/44,967.

Plan B: Sell if market failed to support above 44,532. Targets around 44,220 /44,012.

E-Mini S&P500

U.S. stocks slumped Friday as worries flared again on Wall Street about tariffs and inflation.

The S&P 500 fell 0.9% and erased what had been a modest gain for the week. It’s one of the worse drops for the index so far in the young year, but it remains near its record set two weeks ago.

Treasury yields also climbed in the bond market after a discouraging report on Friday morning suggested sentiment is unexpectedly souring among U.S. consumers. The preliminary report from the University of Michigan said U.S. consumers are expecting inflation in the year ahead to hit 4.3%, the highest such forecast since 2023.

(News Source: APnews)

Plan A: Short if prices failed to support above 6,045. Targets around 6,011 /5,982.

Plan B: Long if prices well supported above 6,045. Targets around 6,069/6,106.

E-Mini Nasdaq

The All three U.S. stock indexes closed lower on Friday after President Donald Trump said he plans to announce reciprocal tariffs on many countries next week, following weak jobs and consumer sentiment data.

The Dow Jones Industrial Average, opens new tab fell 444.23 points, or 0.99%, to 44,303.40, the S&P 500, opens new tab lost 57.58 points, or 0.95%, to 6,025.99 and the Nasdaq Composite lost 268.59 points, or 1.36%, to 19,523.40.

All three indexes were down for the week, with the Dow breaking a three-week streak of gains and ending 0.54% lower. The S&P fell 0.24% while the Nasdaq was down 0.53%.

Trump did not identify which countries would be hit but suggested it would be a broad effort that could also help solve U.S. budget problems.

Markets had a dismal start to the week when Trump announced sweeping trade tariffs over the weekend, before he suspended the levies on goods from Mexico and Canada on Monday for a month. A host of strong earnings in recent days offset the weak start.

Earlier in the day, a survey showed U.S. consumer sentiment dropped unexpectedly in February to a seven-month low and inflation expectations rocketed, with households seeing inflation over the next year surging to 4.3% - the highest since November 2023.

(News Source: Reuters)

Plan A: Short if prices failed to support above 21,674. Targets are 21,418/21,252.  Place a reasonable stop order based on the assessment of the risk and reward ratio.

Plan B: Long only if market supported firm above 21,370. Targets are 21,571/21,897. Place a reasonable stop order based on the assessment of the risk and reward ratio.

WTI Crude Oil

WTI crude oil futures extended recent gains to above $71 per barrel on Monday, supported by supply risks following new US sanctions on Iran's crude exports. The US Treasury announced sanctions last week targeting individuals and tankers involved in transporting millions of barrels of Iranian crude annually to China, aiming to increase pressure on Tehran. However, oil gains were limited by persistent concerns over the potential fallout from President Donald Trump’s ongoing tariffs.

Over the weekend, Trump announced new global tariffs on steel and aluminum, which could affect the US energy sector, including oil drillers reliant on specialty steel not produced domestically. Meanwhile, Chinese tariffs on US goods take effect today in retaliation for Trump’s recent levies, though their impact is expected to be limited due to China’s modest US energy imports.

(News Source: Tradingeconomics)

Plan A: Consider short if market rebounded but failed to support above 72.32. Targets are 70.97/69.06.

Plan B: Long only if prices supported firm above 72.32. Targets are 73.41/74.36.

Gold

Gold held above the $2,860 mark on Friday, remaining near the record highs touched this week amid growing expectations that major central banks will loosen monetary policy this year. Rate futures indicated that investors still expect the Fed to deliver two rate cuts this year despite evidence of a strong labor market, aligning with the last projections by FOMC members. Also, the Bank of England delivered a rate cut and with more dovish than expected vote tallies, while the RBI delivered its first rate cut since the measure to respond to the pandemic nearly five years ago.

Previously, the ECB and the BoC lowered rates with the latter ending quantitative tightening. In turn, bullion assets were also supported by higher demand for safety amid the likelihood that China will follow through on tariffs against the US next week, and US President Trump’s threat of mobilizing residents of the Gaza Strip.

(News Source: Tradingeconomics)

Plan A: Consider long only if market retraced but supported firm above 2,891. Targets at 2,910/2,924.

Plan B: Short if market prices failed to support above 2,891. Targets are 2,872/2,862.

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.