Crude, Gold, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Trump put is done. The stock market has erased all of its meteoric gains notched since Election Day.
Hopes for deregulation, tax cuts, and other fiscal stimulus from President Donald Trump have been replaced by fears that his tariffs on Canada, Mexico, and China will ignite a full-blown trade war. That outcome would most certainly hurt consumers and corporate profits — and revive the economic threat of inflation.
That's why Wall Street is suddenly worried again, instead of excited about Republicans controlling the White House and Congress. There is no sign of the so-called Trump put — the expectation that he will do what he can to keep the stock market happy.
(News Source: DJN)
E-Mini S&P500
Investors took comfort in U.S. President Donald Trump's commitment to cutting taxes in a major address to Congress but voiced concerns about his continued focus on tariffs and a proposal to ditch a semiconductor chip manufacturing subsidy.
The president's remarks come at a pivotal point for markets, as the post-election wave of exuberance and excitement has given way to anxiety that Trump's policies are weighing on economic growth and contributing to inflation.
E-Mini Nasdaq
Stocks racked up more losses on Wall Street Tuesday as a trade war between the U.S. and its key trading partners escalated, wiping out all the gains since Election Day for the S&P 500.
The Trump administration imposed tariffs on imports from Canada and Mexico starting Tuesday and doubled tariffs against imports from China. All three countries announced retaliatory actions, sparkling worries about a slowdown in the global economy.
The Nasdaq composite slipped 0.4%. The tech-heavy index briefly reached a 10% decline from its most recent closing high, which is what the market considers a correction, but gains for Nvidia, Microsoft and other tech heavyweights helped pare those losses.
(News Source: MSN)
Plan A: Long only if market retraced but supported firm above 20,767. Targets are 20, 980/21,123. Place a reasonable stop order based on the assessment of the risk and reward ratio.
Plan B: Short if prices resilient to 20,767. Targets are 20,312/20,013. Place a reasonable stop order based on the assessment of the risk and reward ratio.
WTI Crude Oil
WTI crude oil futures fell to $67.7 per barrel on Tuesday, nearing a three-month low, as concerns grew over OPEC+'s decision to proceed with a planned output increase in April. The group, which includes OPEC and allies like Russia, will raise production by 138,000 barrels per day, the first increase since 2022.
Additionally, US President Donald Trump’s decision to pause military aid to Ukraine, following tensions with Ukrainian President Zelenskyy, raised hopes of a potential easing of the conflict. This could lead to sanctions relief for Russia, increasing global oil supply. The market also braced for new US tariffs on imports from Canada, Mexico, and China, which analysts believe could dampen global economic growth and oil demand, further exerting downward pressure on prices.
(News Source: Tradingeconomics)
Plan A: Consider short if market rebounded but resilient to 68.40. Targets are 67.71/65.30.
Plan B: Long only if prices retraced but supported firm above 68.40. Targets are 70.11/70.59.
US Gold
Gold extended its recent gains around $2,920 per ounce on Wednesday, approaching record levels, supported by a weaker US dollar and safe-haven demand amid the implementation of US tariffs.
Trump's 25% levies on Mexican and Canadian imports took effect Tuesday, alongside a hike in Chinese duties to 20%, escalating trade tensions and prompting retaliation. However, US Commerce Secretary Howard Lutnick suggested possible tariff relief for Canada and Mexico.
Further boosting gold’s safety appeal, the US paused military aid to Ukraine amid reports of potential sanctions relief for Russia. Meanwhile, markets await the ISM Services PMI and US jobs report for insights into Federal Reserve policy, as recent data signaled economic strain, fueling the case for further rate cuts.
(News Source: Tradingeconomics)
Plan A: Short only if market resilient to 2,935. Targets are 2,904/2,888.
Plan B: Consider long only if market retraced but supported firm above 2,888. Targets at 2,904/2,935.
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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