FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 and Dow rose on Monday, as investors rotated into value stocks from heavyweight tech-related names while they awaited news on progress in a fiscal support bill for the country's battered economy.
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Plan A : Attempt long if market trades firmly above 27590. Targets are 27710 and 27820.
Plan B : Cut below 27510.
Plan C : Attempt short if market surges but fails to breach above 27710. Targets are 27630 and 27590.
Plan D : Cut above 27780.
E-Mini S&P 500
The Dow climbed 357 points, or 1.3%, to close at 27,791.44. The S&P 500 gained 0.3% to end the day at 3360.47, about 1% from an all-time high. The Nasdaq Composite dipped 0.4% to 10,968.36. Stocks tried to build on last week's momentum even as lawmakers struggle to make inroads on a new coronavirus deal.
Over the weekend, President Donald Trump signed executive orders that continue the distribution of expanded unemployment benefits, defer student loan payments through 2020 and provide a payroll tax holiday. Still, Trump’s orders face a legal challenge as continuing the programs would require federal funding, which Congress controls. “While this move by Trump may lead to legal challenges, politically it puts pressure on Congress to reach a deal,” notes one market expert.
Boeing and Caterpillar rose 5.5% and 5.3%, respectively, to lead the Dow higher. Those gains helped offset losses from shares of major tech companies. Microsoft slid 2% and Facebook dipped 2%. Amazon slid 0.6%.
BioNTech is set to report earnings on Tuesday. Producer price index data is also set for release.
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Plan A : Short if market failed to support above 3340.25. Targets are 3310.25, 3288.75 and 3259.25.
Plan B ; Long if market retraced slightly but supported firm above 3340.25. Targets are 3361.25, 3375.75 and 3400.25.
E-Mini Nasdaq
Futures tied to major U.S. equity averages were little changed in overnight trading on Monday after days of gains on Wall Street pushed the S&P 500 within striking distance of a record high.
The 30-stock Dow gained about 350 points in regular trading on Monday, posting its seventh positive session in a row — its longest winning streak since September 2019. The S&P 500 gained 0.2%, sitting just 0.9% below its record high set in February. Meanwhile, the Nasdaq underperformed with a 0.4% loss as investors rotated out of some of the high-fliers.
Investors still grappled with the uncertain fate of further coronavirus stimulus aimed at supporting Americans struggling during the pandemic.
Treasury Secretary Steven Mnuchin said Monday the White House is open to resuming coronavirus aid talks with Democrats and putting more relief money on the table to reach a compromise.
Senate Majority Leader Mitch McConnell said Monday in a tweet that he hoped lawmakers will be finalizing the bill this week and that he’s glad President Donald Trump “stepped in to soften the blow of their hostage tactics.”
Over the weekend, Trump signed four executive orders to extend some coronavirus aid, including unemployment benefits, a payroll tax holiday, defer student loan payments through 2020 and extend the federal protections from evictions.
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Plan A : Short if market failed to support above 11056.25. Targets are 11010.25, 10970.25 and 10930.75.
Plan B : Long if market retraced but supported firm above 11056.25. Targets are 11086.25, 11120.25 and 11150.75.
HSI
Hong Kong shares ended lower on Monday, weighed down by rising tensions between Beijing and Washington and uncertainty over a possible U.S. stimulus package, even as new data supported hopes of a recovery in China.
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Plan A : Attempt short if market does not breach above 24707. Targets are 24600 and 24540. Cut above 24810.
Plan B : Consider long if market trades firmly above 24600. Targets are 24707 and 24800. Cut below 24540.
WTI Crude
Oil rose on Monday, supported by an improvement in Chinese factory data, rising energy demand and hopes for an agreement in the United States on more coronavirus-related economic stimulus.
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Plan A : Remain buy as long as oil price stays above 41.6
Plan B : Exit below 41.0
Plan C : Consider selling if oil price surges but fails to breach above 42.6
Plan D : Cut above 43.1
Gold
Gold prices on Monday retreated from an all-time high hit in the last session as the dollar hovered near a one-week peak, while investors awaited an agreement on a U.S. relief bill to help the pandemic-hit economy.
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Plan A : Attempt selling if gold price stays below 2028
Plan B : Cut above 2037
Plan C : Consider buying if gold price firm its price above 2028
Plan D : Cut below 2018
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.