Asian stocks were steady and U.S. futures dipped Wednesday as traders evaluated a surge in the Nasdaq 100 and the outlook for struggling Chinese equities. The dollar pared a drop and Treasury yields held declines.

The S&P 500 advanced 1.4% to 3,875.44. The rally in reopening plays and cyclical stocks took a breather on Tuesday. Energy was the biggest loser with a 1.9% decline, paring its March gains to about 8%. Financials and industrials also underperformed Tuesday.

The pullback in Treasury yields Tuesday encouraged investors to wade back into growth stocks, which suffered recently amid concerns about valuations. Longer-term borrowing costs are still up significantly this year on the prospect of faster inflation as economies recover from the health crisis.


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Plan A : Long if market retraced but supported firm above 3839. Targets are 3854, 3871 and 3888.

Plan B : Short if market failed to support above 3839. Targets are 3815, 3791 and 3769.
 

U.S. stocks rose on Tuesday after a decline in bond yields caused investors to rotate back into the beaten-up technology sector.

The Nasdaq Composite climbed 3.69% to 13,073.82 for its best day since November. Tesla soared 19.6% after a five-day losing streak and posted its biggest one-day pop since February 2020. Apple and Facebook jumped more than 4% each, while Microsoft and Netflix both gained at least 2.5%. Amazon rose 3.8%. The tech-heavy benchmark rallied as much as 4.3% during the session.

Technology shares rebounded from steep losses as bond yields stabilized. The 10-year Treasury yield fell more than 5 basis points to 1.54%. The benchmark rate traded as high as 1.62% on Monday.

The Nasdaq shed 2.4% in the previous session to close more than 10% below its Feb.12 high and falling into correction territory. High-growth names have been pressured lately as rising rates make their future profits less valuable today, making it hard to justify the stocks’ lofty valuations.

Plan A : Long if market supported firm above 12767. Targets are 12797, 12830 and 12860.

Plan B : Short if market failed to support above 12767. Targets are 12727, 12689 and 12651.

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To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for March subscription.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for March subscription.

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 that investment.