E-Mini S&P 500

It looked set to be a shaky start to the quarter on Wednesday, until Pfizer announced positive trial results for a potential coronavirus vaccine. Shaking off pre-market declines, U.S. stocks moved higher, building on the best quarter in decades.

The Dow booked its best quarter since 1987, while the S&P 500 posted its best performance since 1998 and the Nasdaq Composite since 1999, as the economy began to re-open after the coronavirus lockdown.

The closely-watched monthly employment report, set to be released Thursday at 8:30 a.m., has proven difficult for market watchers to forecast of late. Last month, economists forecast a loss of 8 million jobs in May and the economy gained 2.5 million payrolls instead.

Economists expect nearly 3 million jobs were created in June, as companies rehired workers they let go when the economy shut down. Consensus estimates also forecast the unemployment rate falling to 12.4% from 13.3% in May.

Meanwhile, the weekly jobless claims data will also be released Thursday morning. 

The weekly claims data will provide Wall Street with a better sense of how many are still collecting unemployment benefits, a figure known as continuing claims. Last week, the Labor Department said there were still nearly 20 million collecting state unemployment benefits during the week ended June 20.

Another 1.38 million workers are expected to have filed initial claims for state unemployment benefits last week, down from 1.48 million the week earlier.

Plan A : Short if market failed to support 3118.25. Targets are 3093.25, 3074.50 and 3050.25.

Plan B : Long if market doesn't retrace much and supported firm above 3118.25. Targets are 3141.50, 3163.75 and 3180.25.

E-Mini Nasdaq

Futures contracts tied to the major U.S. stock indexes rose in Thursday early morning trade as investors looked ahead to two jobs reports on Thursday, the week’s final day of trading.

Dow futures jumped 215 points. S&P 500 futures and Nasdaq-100 futures also traded in positive territory.

The after-hours moves Thursday morning followed the market's first trading day in the third quarter. Both the S&P 500 and Nasdaq Composite gained during the regular session on Wednesday, with the latter jumping more than 1% to an all-time high. 

Though the Dow lagged on Wednesday with a modest loss, all three major indexes are on track for sizable weekly gains. The S&P 500, Dow and Nasdaq Composite are up 3.5%, 2.8% and 4%, respectively, since Friday’s close.

U.S. markets will be closed on Friday for the July Fourth holiday.

Though traders accredited Wednesday’s gains to optimism over a Covid-19 vaccine being developed by Pfizer and BioNTech, Thursday’s multiple jobs reports loom large into the holiday weekend.

Plan A : Long if market doesn't retrace much and supported firm above 10297.25. Targets are 10325.25, 10360 and 10392.50.

Plan B : Short if market failed to support above 10297.25. Targets are 10267.50, 10237.25 and 10207.50.

HSI

Hong Kong stocks firmed on Tuesday to post their best month in six, as upbeat U.S. and Chinese data renewed hopes for economic recovery and offset worries about U.S. sanctions against the city over Beijing’s national security law.

At the close of trade, the Hang Seng index was up 125.91 points or 0.52% at 24,427.19. 

FUTURESCOIN IS GOING GLOBAL

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

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Plan A : Short if market does not breach above 25748. Targets are 25705 and 25660.

Plan B : Cut above 25798.

Plan C : Long if market supported firmly above 25703. Targets are 25745 and 25795.

Plan D : Cut below 25655.

WTI Crude

Oil prices rose about 1% on Wednesday following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data, but a surge in coronavirus cases tempered gains.

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Plan A : Remain buy as long as oil price stays firm above 39.3

Plan B : Exit below 38.6

Plan C : Consider selling if oil price surges but fails to breach above 40.2

Plan D : Cut above 40.6

Gold

Gold dropped from a near eight-year high on Wednesday as equities gained on the back of encouraging U.S. manufacturing data and rising hopes of a potential COVID-19 vaccine.

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Plan A : Remain buy as long as gold price stays firm above 1769.9

Plan B : Exit below 1764

Plan C : Consider selling if gold price fails to regain footing above 1781

Plan D : Cut above 1786

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.