6 Stocks To Watch For February 28 Trading Session

U.S. Trading Session

  • S&P 500 Futures  -5pts
  • 10-Year Yields 2.67%
  • Oil $56.81
  • VIX 15.04
  • Dollar Index: 95.84

International Trading Session:

  • Japan Nikkei -0.79%
  • China Shanghai -0.44%
  • Hong Kong Hang Seng -0.43%
  • Singapore STI: -1.15%
  • South Korea KOSPI: -1.76%
  • Australia ASX: +0.30%
  • FTSE -0.51%
  • Dax -0.05%

Key Events

US GDP Estimates 2.2%  Actual +2.6%

International Trading:

South Korea

South Korea Kospi fell hard last night –possibly in response to North Korea/US talks, falling below support levels at 2,225. While this is a setback and negative development, the index managed to stay above the long-term downtrend that we have followed since January 2018. We need to continue to watch the development as further declines would severely damage our positive global outlook from a key export economy.

south korea, kospi

Hong Kong HSI

For now Hong Kong HSI has paused at resistance around 28,980. This is less worrisome than Korea and seems like a healthy consolidation but still something that is worth monitoring.

korea, kospi

US Trading

The S&P 500 is pointing to another flat trading session. However, the overall trend remains higher. An increase above 2,798 sends the index on to 2,812. While downside risk remains to 2,750.

S&P 500, spy

JD

JD.com is popping this morning rising nearly 14% after the company beat on both the top and bottom lines. The stock is trading to $29.34 today, bumping up against resistance. Almost exactly how I drew it up the other day. Why JD.Com’s Stock May Pop Following Results

jd

Square (SQ)

One that isn’t going my way this morning is Square, but as I said last night. I think this one may be overdone, as the company’s quarterly results didn’t look so bad to me.  I feel as if Square often guides to weaker earnings plus the full-year outlook appears to be pretty strong.

The stock has held around $74-75 in the after-hours session. I think these levels hold for Square, and the stock does rebound. You can read my pre-earnings look Square’s Stock May Jump Following Its Results

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Disclosure: Michael Kramer and the clients of Mott Capital own Tesla and Acadia

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's notice ...

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