FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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The Dow surged 483.22 points, or 1.68% to 29,290.85. The S&P 500 soared 1.13% to 3,334.69. The Nasdaq Composite advanced 0.43% to 9,508.68. Stocks rose broadly as investors bet the worst may be over for the coronavirus outbreak.
Wednesday’s rally erased the S&P 500′s losses from the past two weeks, which were sparked by fears that the coronavirus would hinder global economic growth. Confirmed coronavirus cases in China are , claiming the lives of 490 people. However, Dave Lafferty of Natixis Investment Managers notes the virus “doesn’t seem to be the open-ended risk it was last week.” A strategist at Jefferies also said the number of new reported cases may be slowing. To be sure, if the virus takes longer than expected to be contained or if there’s a surge in new cases, stocks could suffer through another volatile spell.
Tesla shares plummeted 17.18% in one of its worst days ever amid news the electric car maker will delay Model 3 deliveries in China due to the coronavirus.
Uber is slated to report earnings along with Twitter. Weekly jobless claims data is also on deck for Thursday.
Plan A : Short if market failed to support firm above 3342.25. Targets are 3327.50, 3315.25 and 3302.50.
Plan B : Long if market supported firm above 3342.25. Targets are 3357.25, 3368.75 and 3379.25.
E-Mini Nasdaq
U.S. stock index futures rose on Thursday morning with economic data and corporate earnings taking the reins as fears over the coronavirus outbreak eased slightly.
At around 2:20 a.m. ET, Dow futures were up 156 points and indicated an implied positive open of more than 165 points, while futures on the S&P 500 and Nasdaq were also higher.
Wall Street looks for a fourth straight day of gains after the Dow jumped 480 points on Wednesday and the S&P 500 closed at another record high, erasing the losses from the sharp sell-off on the initial coronavirus scare.
Markets will also be lifted by the announcement from China’s Ministry of Finance that Beijing is set to halve tariffs on hundreds of U.S. imports worth around $75 billion.
Tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, which will take effect on Feb. 14.
Traders will also be attuned to corporate earnings, with Bristol-Myers Squibb and Estee Lauder among those reporting before the bell, while numbers from T-Mobile and Uber are due after the close of trade.
On the data front, jobless claims for last week are due at 8:30 a.m. ET alongside fourth-quarter preliminary productivity figures and unit labor costs.
Plan A : Short if market failed to support above 9412.25. Targets are 9372.50, 9348.25 and 9318.75.
Plan B : Long if market retraced but supported firm above 9388.50. Targets are 9415.25, 9432.25 and 9460.75.
Hong Kong stocks gained for the third straight session on Wednesday as investors bet on further policy support from Beijing to offset the economic impact of a rapidly spreading coronavirus.
At the close of trade, the Hang Seng index was up 0.4% at 26,786.74.
WTI Crude
Oil prices jumped more than 2% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.
Plan A : Attempt buy if oil price stays firm above 51.0
Plan B : Cut below 50.3
Plan C : Consider selling if oil price rebounds but fails to breach above 51.4
Plan D : Cut above 51.9
Gold
Gold rose on Wednesday on bargain hunting, reversing course from a two-week low touched earlier, as investors latched on to the metal's overall uptrend on the back of a low interest rate environment globally and lingering uncertainties.
Plan A : Attempt buy if gold price able to trade firmly above 1556.7
Plan B : Cut below 1548.9
Plan C : Consider selling if gold price fails to breach and hold firm above 1556.7
Plan D : Cut above 1562.4
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 and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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 that investment.
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
If you like what we are doing, kindly like and share our page at FB. Follow us at FB for more updates.
Click here to contact us : https://goo.gl/B6Dccf
The Dow surged 483.22 points, or 1.68% to 29,290.85. The S&P 500 soared 1.13% to 3,334.69. The Nasdaq Composite advanced 0.43% to 9,508.68. Stocks rose broadly as investors bet the worst may be over for the coronavirus outbreak.
Wednesday’s rally erased the S&P 500′s losses from the past two weeks, which were sparked by fears that the coronavirus would hinder global economic growth. Confirmed coronavirus cases in China are , claiming the lives of 490 people. However, Dave Lafferty of Natixis Investment Managers notes the virus “doesn’t seem to be the open-ended risk it was last week.” A strategist at Jefferies also said the number of new reported cases may be slowing. To be sure, if the virus takes longer than expected to be contained or if there’s a surge in new cases, stocks could suffer through another volatile spell.
Tesla shares plummeted 17.18% in one of its worst days ever amid news the electric car maker will delay Model 3 deliveries in China due to the coronavirus.
Uber is slated to report earnings along with Twitter. Weekly jobless claims data is also on deck for Thursday.
Plan A : Short if market failed to support firm above 3342.25. Targets are 3327.50, 3315.25 and 3302.50.
Plan B : Long if market supported firm above 3342.25. Targets are 3357.25, 3368.75 and 3379.25.
E-Mini Nasdaq
U.S. stock index futures rose on Thursday morning with economic data and corporate earnings taking the reins as fears over the coronavirus outbreak eased slightly.
At around 2:20 a.m. ET, Dow futures were up 156 points and indicated an implied positive open of more than 165 points, while futures on the S&P 500 and Nasdaq were also higher.
Wall Street looks for a fourth straight day of gains after the Dow jumped 480 points on Wednesday and the S&P 500 closed at another record high, erasing the losses from the sharp sell-off on the initial coronavirus scare.
Markets will also be lifted by the announcement from China’s Ministry of Finance that Beijing is set to halve tariffs on hundreds of U.S. imports worth around $75 billion.
Tariffs on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, which will take effect on Feb. 14.
Traders will also be attuned to corporate earnings, with Bristol-Myers Squibb and Estee Lauder among those reporting before the bell, while numbers from T-Mobile and Uber are due after the close of trade.
On the data front, jobless claims for last week are due at 8:30 a.m. ET alongside fourth-quarter preliminary productivity figures and unit labor costs.
Plan A : Short if market failed to support above 9412.25. Targets are 9372.50, 9348.25 and 9318.75.
Plan B : Long if market retraced but supported firm above 9388.50. Targets are 9415.25, 9432.25 and 9460.75.
Hong Kong stocks gained for the third straight session on Wednesday as investors bet on further policy support from Beijing to offset the economic impact of a rapidly spreading coronavirus.
At the close of trade, the Hang Seng index was up 0.4% at 26,786.74.
WTI Crude
Oil prices jumped more than 2% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.
Plan A : Attempt buy if oil price stays firm above 51.0
Plan B : Cut below 50.3
Plan C : Consider selling if oil price rebounds but fails to breach above 51.4
Plan D : Cut above 51.9
Gold
Gold rose on Wednesday on bargain hunting, reversing course from a two-week low touched earlier, as investors latched on to the metal's overall uptrend on the back of a low interest rate environment globally and lingering uncertainties.
Plan A : Attempt buy if gold price able to trade firmly above 1556.7
Plan B : Cut below 1548.9
Plan C : Consider selling if gold price fails to breach and hold firm above 1556.7
Plan D : Cut above 1562.4
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 and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, 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 that investment.