Crude, Gold, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow Jones Industrial Average also pinballed sharply, careening between a rise of 287 points and a drop of 423. It ended with a loss of 82 points, or 0.2%.
The inflation report, which showed overall prices rose less for U.S. consumers last month than economists expected, helped companies in the artificial-intelligence industry lead the way. It's a bounce back after AI stocks got crushed recently by worries their prices had gone too stratospheric in the market's run to record after record in recent years.
February's CPI rate climbed 0.2% to 2.8%, results that were better than expected, helping to lift the market mood. The relief could not come too soon given the fears that have been sparked around the tariff war.
(News Source: Los Angeles Times)
(News Source: Los Angeles Times)
E-Mini S&P500
The S&P 500 gained 0.5% after skidding between an early gain of 1.3% and a later loss. The unsettled trading came a day after the index briefly fell more than 10% below its all-time high set last month.
Elon Musk's Tesla, whose price had more than halved since mid-December, rallied 7.6% for its first back-to-back gain in nearly a month.
Even with such gains, though, more stocks in the S&P 500 fell than rose. Among the hardest hit were businesses that could be set to feel pain because of Trump's trade war.
E-Mini Nasdaq
The Nasdaq Composite and S&P 500 are holding onto gains while the Dow Jones Industrial Average has slipped into the red.
The markets are in rebound mode after a better-than-expected inflation report. Technology stocks are the tide lifting most boats, sending the Nasdaq Composite and S&P 500 higher while the Dow Jones has erased earlier gains.
Nvidia and Tesla led the tech sector higher with gains of 6.4% and 7% respectively. Tesla's gains come on the heels of yesterday's ringing endorsement from President Trump and a commitment from Elon Musk to bolster U.S. production of the EVs over the next couple of years.
Nvidia climbed 6.4% to trim its loss for the year so far to 13.8%. Server-maker Super Micro Computer rose 4%, and GE Vernova, which is helping to power AI data centers, gained 5.1%.
(News Source: MSN)
Plan A: Long only if market supported firm above 19,761. Targets are 20,086/20,458. Place a reasonable stop order based on the assessment of the risk and reward ratio.
Plan B: Short if prices failed to support above 19,761. Targets are 19,395/19,143. Place a reasonable stop order based on the assessment of the risk and reward ratio.
WTI Crude Oil
WTI crude oil futures rose above $67 per barrel on Friday, reversing losses in the previous session, supported by fresh US sanctions on Iranian oil and shipping. Washington targeted Iran’s Oil Minister Mohsen Paknejad and Hong Kong-flagged vessels linked to a shadow fleet concealing Tehran’s crude export. However, crude remained under pressure due to macroeconomic uncertainties, with the International Energy Agency warning that a supply surplus is set to grow as an escalating trade war weakens demand while OPEC+ increases production. The IEA expects global oil supply to exceed demand by about 600,000 bpd this year, driven by US-led supply growth, while demand is projected to rise by just 1.03 million bpd, 70,000 bpd below last month’s forecast. For the week, oil is heading for an eighth consecutive weekly decline, the longest losing streak since August 2015.
(News Source: Tradingeconomics)
Plan A: Long only if prices retraced and supported firm above 66.76. Targets are 68.11/69.29.
Plan B: Consider short if market resilient to 68.11. Targets are 67.33/66.76.
US Gold
Gold held above $2,980 per ounce on Friday, a record high and just shy of the $3,000 milestone, driven by risk aversion and rising expectations of Federal Reserve rate cuts. In the latest escalation of US President Donald Trump’s multi-front trade war, he warned of a 200% tariff on European wine and other alcoholic beverages after the EU imposed a 50% tax on American whiskey exports. Meanwhile, recent PPI and CPI data signaled easing price pressures in February, giving the Fed more room to cut rates and boosting the appeal of non-yielding gold. Further supporting the metal are strong ETF demand and sustained central bank buying, with China extending its purchases for a fourth consecutive month. For the week, bullion is on track for a gain of over 2%.
(News Source: Tradingeconomics)
Plan A: Consider long only if market retraced and supported firm above 2,935. Targets are at 2,973/3,000.
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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