CPI Day: Can Bulls Stage a Comeback? 11/09/2024

US Pre-Market
 

Futures: The S&P 500 is down 0.53%, the Dow Jones Industrial Average is down 0.44%, and the Nasdaq 100 is down 0.70%.
U.S. stock futures edged lower Tuesday night as investors weighed the presidential debate between Republican nominee Donald Trump and Vice President Kamala Harris, while anticipating the August consumer inflation report set for release Wednesday morning.
Watchlist for today: MANU, TEN, PLAY, GME, DJT, JPM, AMZN, DBI

Bitcoin

Bitcoin dropped 2% yesterday during the presidential debate as the market reacted to Kamala Harris's early lead, causing a slight dip in the cryptocurrency. However, analysts predict Bitcoin is poised for a breakout in October, expecting one final significant correction to 51 000 level before entering the parabolic phase of the bull cycle.
Watchlist: Bitcoin: 52 550-58 000 Ethereum: 2150-2400, Solana: 120 -139
 

 Forex Market

The EUR has struggled recently, forming a sizeable inverted cup and handle pattern on the daily chart, with significant support at 1.0270. Since January, the yen strengthened to its highest level against the U.S. dollar after Bank of Japan policy member Junko Nakagawa indicated that the central bank would continue to fine-tune its monetary easing measures.
Whatchlits: EUR/USD: 1.1027-1.1.080, USD/JPY: 140.7 -143.50
 

Basic Materials

Crude oil futures hit their lowest close since December 2021 on Tuesday, as the market sell-off accelerated following OPEC's second downward revision of its demand forecast in two months. Concerns over weakening demand in China, driven by a surge in electric vehicle sales, have weighed on the oil market for months. Additionally, with Morgan Stanley and other analysts, OPEC+ is expected to boost production in December.  Meanwhile, Gold is stretching for new highs, but 2533 is still a strong resistance level.
Watchlist: GOLD 2470-2533 Crude Oil: 65.15-70.00

The TEFS Analyst team wishes you a successful day!