CWG Markets

Asia-Pacific markets mostly rose, with the Taiwan Weighted Index crossing the 23,000 mark to hit an all-time high.
Traders in Asia assessed Japan’s trade data for May, which showed exports grew 13.5% year on year, while imports grew 9.5% during the same period.
Written by Lim Hui Jie& Charmaine Jacob

Our pivot point stands at 85.

Our preference: the downside prevails as long as 85 is resistance.

Alternative scenario: the upside breakout of 85 would call for 86.8 and 88.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the stock is trading under both its 20 and 50 day moving average (respectively at 85.574 and 83.687).

The RBA is expected to hold rates at 4.35%, but investors will be watching the language used in its monetary policy statement.
The S&P 500 closed at a fresh record of 5,473.23, adding 0.77%.
Written by Lim Hui Jie
&p500

S&P 500 futures are near flat Monday night after a winning day on Wall Street as investors gear up for May retail sales data.

Futures linked to the broad market index inched higher by 0.05%, while Nasdaq 100 futures
ticked down by 0.07%. Dow Jones Industrial Average futures rose 59 points, or 0.15%.
Written by Alex Harring

Our pivot point is at 509.

Our preference: the upside prevails as long as 509 is support.

Alternative scenario: the downside breakout of 509 would call for 503 and 499.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is above its 20 and 50 day moving average (respectively at 506.3877 and 498.9384).

European markets are set to open mixed as investors attempt to shake off negative sentiment from last week.
Investors are looking ahead to the Bank of England’s policy rate decision on Thursday.
Written by Karen Gilchrist

The People’s Bank of China held its medium term lending facility rate unchanged at 2.5% on 182 billion yuan, as expected.
China’s retail sales beat expectations in May, climbing 3.7% compared with a year ago, beating expectations of a 3% rise from a Reuters poll of economists.
However, industrial output grew by 5.6% year-on-year, compared to the 6% increase expected, while fixed asset investment rose 4% compared to last May, just missing the 4.2% forecast.
Written by Lim Hui Jie

71.8 is our pivot point.

Our preference: the upside prevails as long as 71.8 is support.

Alternative scenario: below 71.8, expect 70.2 and 69.4.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 70.15 and 68.2999). Finally, Lyxor ETF NASDAQ 100 EURO has crossed above its upper daily Bollinger band (72.83).

LONDON — European stocks opened in the green on Friday, rounding off a choppy week that has delivered a host of new information for investors to process.

The Stoxx 600 index was 0.1% higher in early deals as sectors traded mixed, with health-care stocks up 0.5% as utilities dipped 0.3%. The regional benchmark is nonetheless on course for one of its worst weeks of the year so far.
Written by Jenni Reid

CleverCards, a Dublin-based digital payments firm, has raised 8 million euros ($8.6 million) of funding from investors including Pluxee, an employee vouchers and benefits platform.
Founded in 2019, CleverCards uses a digital platform linked to configurable expense cards to give companies control over how their employees use their corporate payment cards.
It allows businesses to deliver prepaid cards that can be configured to only be used by certain members of staff, and block certain transactions if they’re viewed as inappropriate.
Written by Ryan Browne

Our pivot point stands at 50.8.

Our preference: the upside prevails as long as 50.8 is support.

Alternative scenario: the downside breakout of 50.8 would call for 50.1 and 49.6.

Comment: the RSI is trading above 70. This could mean that either the stock is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 50.3742 and 49.5891). Finally, Lyxor ETF S&P 500 is trading above its upper Bollinger band (standing at 51.47).

LONDON — European stocks opened lower Thursday as regional investors react to the U.S. Federal Reserve’s latest monetary policy decision and U.S. inflation data.

The Stoxx 600 index was down 0.26% at the open, with travel and autos leading losses, both down around 0.8%.

Shares of beleaguered French IT group Atos dropped 14% after announcing the sale of its consultancy unit Worldgrid. The company this week agreed to a rescue deal set to majorly dilute existing shareholders.
Written by Jennie Reid & Holy Ellyatt

Oil prices fell in early trade on Wednesday as investors digested news that the U.S. Federal Reserve has opted against cutting interest rates in the near future, while ample U.S. crude and fuel stocks further weighed on the market.

Brent crude futures lost 14 cents, or 0.17%, to $82.46 a barrel at 0039 GMT, and U.S. West Texas Intermediate (WTI) crude futures fell 16 cents, or 0.2%, to hit $78.34. Both benchmarks had gained about 0.8% in the previous session.
Shared by Reuters

Our preference: target 81.3.

Alternative scenario: above 87.2, look for 88.8 and 89.8.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must pe*****te its zero line to expect further downside. Moreover, the stock is below its 20 day moving average (86.032) but above its 50 day moving average (83.535). Finally, SPDR MSCI Europe Financials ETF is trading below its lower daily Bollinger band (standing at 84.96).

Oil prices ticked higher on Wednesday on upbeat global demand views from the U.S. Energy Information Administration and OPEC.

Brent crude futures rose 11 cents, or 0.1%, to $82.04 a barrel at 0016 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 18 cents, or 0.2%, to settle at $78.10.
Shared by Reuters

Data out of the U.K. on Wednesday showed that the country’s economic growth was flat in April as construction output declined for the third month in a row.
Elsewhere, the U.S. Federal Reserve’s decision on Wednesday will come hours after the country’s May inflation report.
Written by Holly Ellyatt& Sophie Kiderlin

Our pivot point stands at 69.7.

Our preference: the upside prevails as long as 69.7 is support.

Alternative scenario: below 69.7, expect 68.2 and 67.2.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 69.5609 and 68.019). Finally, Lyxor ETF NASDAQ 100 EURO is trading above its upper Bollinger band (standing at 71.46).

Asia-Pacific markets like Australia, Hong Kong, mainland China and Taiwan will return to trade on Tuesday, after being closed for a public holiday the previous day.
Traders in Asia will be looking to the U.S. Federal Reserve’s decision on Wednesday stateside, which will come after the May inflation report is released the same day.
Written by Lim Hui Jie

Stock futures inched lower Monday night as investors await the start of June’s Federal Reserve policy meeting.

Dow Jones Industrial Average futures lost 60 points, or 0.15%. S&P 500 futures and Nasdaq 100 futures both lost roughly 0.1%.

Those moves follow a muted but notable day on Wall Street. The S&P 500 and Nasdaq Composite
rose modestly to notch new record closes, while the Dow inched higher by nearly 0.2%.
Written by Alex Harring
&p500

40.9 is our pivot point.

Our preference: eye 37.85.

Alternative scenario: the upside breakout of 40.9 would call for 41.95 and 42.55.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the stock is trading under its 20 day moving average (40.329) but above its 50 day moving average (39.8384).

European stocks looked set to open relatively flat on Friday, after closing at a record high during the previous session.
The pan-European Stoxx 600 ended Thursday at 524.75 points — just above its previous record close on May 15, according to LSEG data.
It comes after the European Central Bank cut interest rates for the first time since 2019 on Thursday, in a widely expected move, despite nagging inflationary concerns.
Written by Katrina Bishop

Chinese EV company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, adding that deliveries of its lowest-priced brand will start in the first half of next year.
The U.S.-listed Chinese company plans to start offering its products and services in the United Arab Emirates by the end of this year, Li said, according to a FactSet transcript.
Nio launched a lower-priced brand called Onvo in May and is working on an even lower-priced brand called Firefly.
Written by Evelyn Cheng

5.97 is our pivot point.

Our preference: as long as 5.97 is support look for 6.73.

Alternative scenario: the downside breakout of 5.97 would call for 5.77 and 5.64.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading above both its 20 and 50 day moving average (respectively at 6.146 and 5.8858).

The pan-European Stoxx 600 was up 0.6% in early deals, with all major bourses and the vast majority of sectors in the green. Tech stocks jumped 1.7% while utilities were a rare outlier, down 0.7%.

Health-care stocks added 1%, led by Danish pharmaceuticals giant Novo Nordisk, which climbed 3.5% to hit a fresh record high amid continued demand for its blockbuster Wegovy weight loss drugs.
Written by Holly Ellyatt

Asia-Pacific stocks rose Thursday on expectations that the European Central Bank will cut rates, with softer U.S. labor market data fueling hopes that the Fed might follow suit, further boosting market sentiment.

The ECB this week appears set to cut borrowing costs for the euro area for the first time since September 2019.
Written by Lim Hui Jie

Our pivot point stands at 67.1.

Our preference: as long as 67.1 is support look for 72.3.

Alternative scenario: the downside breakout of 67.1 would call for 65.2 and 64.1.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is below its 20 day moving average (68.9588) but above its 50 day moving average (67.7946).

European stocks are expected to open higher Wednesday, with investors in the region looking ahead to the next meeting of the European Central Bank (ECB).

The U.K.’s FTSE index is seen opening 42 points higher at 8,274, Germany’s DAX up 88 points at 18,501, France’s CAC 40 up 46 points at 7,983 and Italy’s FTSE MIB 174 points higher at 34,491, according to data from IG.
Written by Holly Ellyatt

TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors.
The Wall Street Journal reported on the endeavor earlier, saying the exchange is billing itself as a “more-CEO friendly” alternative to the New York Stock Exchange and Nasdaq in the face of rising regulation.
TXSE’s website said it will be a “fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission.”
Written by Christine Wang

103.9 is our pivot point.

Our preference: short term rebound.

Alternative scenario: the downside breakout of 103.9 would call for 101.8 and 100.5.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the share stands above its 20 day moving average (104.6665) but below its 50 day moving average (105.8131).

Asia stocks dipped Tuesday after kicking off June on solid ground, with investors now awaiting the final results of India’s general elections.

The world’s most populous country will start counting votes for its 2024 election at 8 a.m. local time, with Prime Minister Narendra Modi projected to win a rare third consecutive term.
Written by Shreyashi Sanyal