FUTURESCOIN IS GOING GLOBAL

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

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U.S. stock futures moved higher in overnight trading and pointed to gains at the open on Tuesday, as investors eye earnings reports from some of the nation’s largest banks. 

Dow futures rose 50 points. The S&P 500 and Nasdaq 100 futures rose 0.15% and 0.4%, respectively. 

On Monday, the Dow Jones Industrial Average gave up a 500-point gain to end the day up 10 points. The S&P 500 ended the day down 0.95%, having earlier rallied 1% to briefly trade positive for the year. Monday marked the first time since early June that the S&P 500 traded positive year to date.

The Nasdaq Composite dipped 2.1%, pushed lower by losses in Netflix, Microsoft, Amazon and Facebook. The technology heavy index rose nearly 2% at its session high on Monday.

The Nasdaq-100, which is made up of the 100-largest non-financial companies in the Nasdaq Composite, briefly traded above 11,000 for the first time before falling 2.2%. 

Cases continued to hit record levels across the U.S. over the weekend as a number of hot-spot states continue to see Covid-19 deaths gradually rise, according to data compiled by Johns Hopkins University. California Gov. Gavin Newsom is ordering some indoor businesses — including restaurants, bars, movie theaters and museums — to re-close statewide as new cases continue to rise. 

While corporate profits are expected to fall by 44% in the second quarter, the financial sector is expected to see a more than 52% decline in profits, according to Refinitiv.

A key indicator of inflation trends, the Consumer Price Index (CPI) will be released by the Labor Department at 8:30 a.m. on Tuesday. Economist polled by Dow Jones are estimating U.S. consumer prices rose 0.5% in June, according to economists polled by Dow Jones. 

HSI

Hong Kong stocks ended higher on Monday, tracking other Asian markets, though gains were pared in the afternoon after Beijing announced sanctions against U.S. officials and entities.

At the close of trade, the Hang Seng index was up 44.71 points, or 0.17%, at 25,772.12

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Plan A : Short if market stays below 26125. Targets are 26080 and 26035.

Plan B : Cut above 26165.

Plan C : Attempt to long if market rebounds from 26135. Targets are 26170 and 26215.

Plan D : Cut below 26090.

E-Mini S&P 500

The Dow climbed 10.50 points, or 0.04%, to 26,085.80. The S&P 500 slid  0.94% to 3,155.22. The Nasdaq Composite fell 2.13% to 10,390.84. Stocks reversed course as a rally in major tech names — which briefly pushed the S&P 500 into positive territory for the year — fizzled out.

Shares of Microsoft ended the day down 3.09% while Facebook, Netflix, Alphabet and Apple also closed lower. Big Tech started rolling over after the S&P 500 briefly turned positive for 2020. “No sentient human could look at some of the super-cap tech stocks and say the latest move wasn’t anything other than a momentum-driven melt-up rally,” says one trader. Wall Street also lost its footing after California Gov. Gavin Newsom ordered indoor operations for fitness centers, malls and places of worship, among others, to shut down amid rising Covid cases. 

Pfizer and German biotech BioNTech  SE were granted fast track designation by the FDA for two of the companies’ four vaccine candidates against the coronavirus. Pfizer and BioNTech said they expect to start the next phase of the vaccine trial later this month with 30,000 subjects.

JPMorgan Chase and Citigroup are among the companies set to report earnings on Tuesday.

Plan A : Long if market doesn't retrace much and supported firm above 3145.25. Targets are 3169.50, 3188.50 and 3212.75.

Plan B : Short if market failed to support above 3145.25. Targets are 3115.50, 3098.25 and 3079.50. 

E-Mini Nasdaq

Plan A : Short if market failed to support above 10689.25. Targets are 10645.25, 10600.50 and 10562.25.

Plan B : Long if market retraced but supported firm above 10689.25. Targets are 10720.25, 10752.50 and 10781.75.

WTI Crude

Oil prices were modestly lower on Monday as the market waits for direction from an OPEC meeting later this week that is expected to recommend an increase in output.

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Plan A : Attempt sell if oil price stays below 39.9

Plan B : Cut above 40.7

Plan C : Consider buying if oil price test and rebound from 39.3

Plan D : Cut below 38.8

Gold

Gold prices firmed above the key $1,800 level on Monday, as surging U.S. coronavirus cases boosted hopes for more stimulus measures by the Federal Reserve to cushion the economic fallout from the pandemic.

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Plan A : Attempt sell if gold price stays below 1807.6

Plan B : Cut above 1817

Plan C : Consider buying if gold price resiliently above 1801

Plan D : Cut below 1796.5

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.