WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's main indexes ended mixed in a dull session on Thursday as gains in high-growth stocks offset losses in energy shares, with investors looking ahead to monthly jobs report for clues on the pace of interest rate hikes by the Federal Reserve.
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Plan A: Remain long as long as market trades above 32617. Targets are 32813 and 32910.
Plan B: Consider short if market stays below 32568. Targets are 32520 and 32422.
E-Mini S&P 500
The Dow ticked down Thursday as traders awaited Friday’s July jobs report, which will give the latest snapshot on the labor market and the health of the economy.
The Dow Jones Industrial Average shed 85.68 points, or 0.26%, to 32,726.82. The S&P 500 fell 0.08% to close at 4,151.94 after hitting its highest level since June on Wednesday. The Nasdaq Composite increased 0.41% to 12,720.58, the highest close since early May.
A slight uptick in weekly jobless claims, reported Thursday morning, weighed on investors watching for signs that labor market strength is dwindling. The July jobs report, scheduled to be released Friday, will show how employers hired last month. Economists estimate that the economy added 258,000 jobs in July, down from 372,000 in June, according to Dow Jones. The jobless rate is forecast to remain 3.6%.
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Plan A: Short if market failed to support above 4170. Targets are 4151 and 4128.
Plan B : Long only if market supported firm above 4170. Targets are 4191 and 4212.
E-Mini Nasdaq
Stock futures were higher early Friday as investors waited for the jobs report, looking for further clues about the Federal Reserve’s path of rate hikes and the state of the economy.
Futures on the Dow Jones Industrial Average were up 72 points or 0.22%. S&P 500 futures and Nasdaq 100 futures gained 0.17% and 0.21%, respectively.
Economists expect 258,000 jobs were added in July, down from 372,000 in June, according to Dow Jones. Unemployment is expected to hold steady at 3.6%. The jobs report is released Friday at 8:30 a.m. ET.
Job growth is expected to slow as the Fed continues to hike interest rates to tame surging inflation, but it’s unclear whether that slowing will tip the economy into an official recession. Many said Friday’s report is crucial as it’s one of two the central bank will see before it decides how much to raise rates at its September meeting.
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Plan A: Long if market supported firm above 12976. Targets are 13020 and 13065.
Plan B : Short if market failed to support above 12976. Targets are 12931 and 12889.
HSI
Hong Kong's Hang Seng Index opened higher and held ground, finishing up 2.1% as concerns regarding Taiwan ebbed, and traders bargain-hunted tech shares.
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Plan A: Remain long if the market stays above 20000. Targets are 20313 and 20469.
Plan B: Consider short only if the market stays below 20000. Targets are 19844 and 19531.
WTI Crude
Global oil prices dropped on Thursday to their lowest levels since before Russia's February invasion of Ukraine, as traders fretted over the possibility of an economic recession later this year that could torpedo energy demand.
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Plan A: Remain short as long as oil price stays below 93.75. Targets are 87.5 and 84.38.
Plan B: Consider long only if oil price stays above 93.75. Targets are 95.31 and 96.88.
Gold
Gold closed above the US$1,800 mark on Thursday for the first time in a month as US bond yields and the dollar fell and the Bank of England warned the United Kingdom's economy could fall into recession later this year with inflation rising as high as 13%.
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Plan A: Remain long as long as gold price stays above 1789.1. Targets are 1812.5 and 1820.3.
Plan B: Attempts short only if gold price stays below 1789.1. Targets are 1781.3 and 1773.4.
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.