WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
U.S. stocks climbed on Monday, the first trading day of May, as shares tied to the economic reopening rallied on relaxed pandemic restrictions.
The S&P 500 gained 0.3% to 4,192.66. The S&P 500 is now up more than 11% for the year.
On the data front, IHS Markit data showed U.S. manufacturing activity grew at a record-high speed last month with April’s Manufacturing Business Activity PMI Index rising to 60.5, matching expectations from economists polled by Dow Jones.
However, a separate gauge from Institute for Supply Management signaled a slowdown in manufacturing expansion. The ISM Manufacturing PMI for April came in at 60.7, compared to the expected 65.0 and March’s level of 64.7.
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Plan A : Short if market failed to support above 4181. Targets are 4156, 4130 and 4103.
Plan B : Long if market supported firm above 4181. Targets are 4196, 4215 and 4231.
Stock futures slipped in early morning trading on Tuesday after a strong start to May as investors piled into shares that would benefit the most from an economic reopening.
The Nasdaq Composite fell 0.5% to 13,895.12, however, after Big Tech stocks pulled back following a strong month.
States continued to relax pandemic restrictions amid the vaccine rollout. New York Gov. Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month.
April’s jobs report will be released on Friday, with a forecast gain of 978,000.
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Plan B : Long if market supported firm above 13700. Targets are 13732, 13761 and 13799.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
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