Crude, Gold, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Stock futures were rising on Sunday night, ahead of a week full of labor market updates and employment news, including the February jobs report on Friday.
While the Dow ended last week on an upswing, worries about the economy have seeped into the stock market, weighing on the S&P 500 and technology-heavy Nasdaq.
This week's economic highlights include the ADP's report on private-sector employment in February and the Federal Reserve's Beige Book on Wednesday, initial unemployment claims on Thursday, and the Bureau of Labor Statistics' jobs report and unemployment rate for February on Friday.
(News Source: DJN)
E-Mini S&P500
US stock futures edged higher on Monday as Wall Street looks to recover from a turbulent February.
Investors are keenly eyeing the March 4 deadline for President Donald Trump’s proposed tariffs on key US trading partners.
Over the weekend, Commerce Secretary Howard Lutnick indicated that tariffs on Mexico and Canada remain “fluid,” suggesting they could be lower than the initially proposed 25%.
E-Mini Nasdaq
Wall Street indexes advanced in choppy trading on Friday, after briefly dipping following a contentious White House meeting with Ukrainian President Volodymyr Zelenskiy.
The Nasdaq gained 1.63% to 18,847.28 points. Volume on U.S. exchanges was heavy, with 17.5 billion shares traded, compared with an average of 15.4 billion shares over the previous 20 sessions.
US Treasury yields fell to new multi-month lows after a report closely tracked by the Federal Reserve showed annual inflation subsided and consumer spending slowed last month.
The 12-month change in the US personal consumption expenditures (PCE) price index fell to 2.5% last month from 2.6% in December, US data showed. The core PCE measure, the Fed's preferred measure of inflation, fell to 2.6% from an upwardly revised 2.9%. The central bank targets an inflation rate of 2%. Both measures came in line with economists' expectations.
The threat of escalating tariffs has boosted the dollar, but it has also stoked worries about the impact of widespread duties on the US economy.
(News Source: Reuters)
Plan A: Short only if prices resilient to 20,975. Targets are 20,760/20,491. Place a reasonable stop order based on the assessment of the risk and reward ratio.
Plan B: Long only if market retraced but supported firm above 20,760. Targets are 20, 980/21,335. Place a reasonable stop order based on the assessment of the risk and reward ratio.
WTI Crude Oil
Oil gained at the start of the week ahead of planned tariffs by the Trump administration on major US trading partners including China, which raises the prospect of retaliatory measures and market volatility.
Brent climbed above $73 a barrel after posting the biggest monthly loss since September, while WTI futures traded near $70. The levies on China, Mexico and Canada, which are scheduled to start on Tuesday, may yet be delayed, but any reprieve would likely be temporary.
President Donald Trump's threats to implement sweeping tariffs on a number of countries has weighed on sentiment across global markets, with benchmark oil futures on a downtrend since mid-January. Hedge funds cut their net-long position in WTI to the lowest level since 2010 through Feb 25.
(News Source: Bloomberg)
Plan A: Consider short if market failed to support above 70.13. Targets are 69.80/69.27.
Plan B: Long only if prices retraced but supported firm above 70.13. Targets are 70.49/71.26.
US Gold
Gold prices eased on Friday, February 28, posting the biggest weekly drop since November. A stronger US dollar pressured bullion, while investors awaited key US inflation data for insights into the Federal Reserve's monetary policy.
Spot gold was down 1.1% at $2,885.13 an ounce as of 01:50p.m. ET (1850 GMT), after hitting its lowest level since February 12 in Friday's session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.
US gold futures settled 1.2% lower at $2,895.90.
(News Source: CNBCTV18)
Plan A: Short only if market resilient to 2,887. Targets are 2,875/2,866.
Plan B: Consider long only if market retraced but supported firm above 2,867. Targets at 2,879/2,895.
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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