WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
E-Mini Dow
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The S&P 500 dipped less than 0.1% to 3,931.33, however, amid a 1% decline in the technology sector.
The S&P 500 pared losses after the minutes of the last Federal Reserve meeting signaled that easy monetary policy will be in place for longer as the economy is nowhere close to pre-pandemic levels.
Investors also weighed improving economic data with rising inflation expectations. Retail sales surged 5.3% in January, blowing past a Dow Jones estimate of a 1.2% rise. The jump in consumer spending could further fuel inflation expectations, which have already pushed bond yields significantly higher recently.
Signs of a pickup in pricing pressures already emerged as the economy rebounds from the pandemic-induced recession amid historic fiscal and monetary stimulus. The Labour Department said Wednesday the producer price index, a measure of the prices businesses receive for their goods and services, rose 1.3% in January, the biggest jump since the index began in December 2009.
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Plan A : Long if market doesn't retrace much and supported firm above 3905. Targets are 3920, 3938 and 3852.
Plan B : Short if market failed to support above 3905. Targets are 3882, 3857 and 3833.
E-Mini Nasdaq
Stock futures moved lower early Thursday morning ahead of the release of a key indicator for the job market.
The Nasdaq Composite fell 0.6% to 13,965.49 as Apple dropped 1.8%.
Investors will get several new pieces of economic data on Thursday to gauge the pace of the U.S. recovery, including initial jobless claims. Economists surveyed by Dow Jones are expecting 773,000 new claims, a slight decrease from the prior week. Housing and manufacturing data is also due out on Thursday morning.
Those economic readings come on the heels of big jumps for retail sales and producer prices in data released Wednesday.
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Plan A : Long if market doesn't retrace much and supported firm above 13644. Targets are 13674, 13700 and 13741.
Plan B : Short if market failed to support above 13644. Targets are 13600, 13561 and 13522.
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Plan A : Remain buy as long as market trades firmly above 30777. Targets are 31068 and 31525.
Plan A : Remain buy as long as oil price trades firmly above 61.3. Targets are 61.9 and 62.4.
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