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On January 12, Sergio Gor, the newly appointed U.S. Ambassador to India by the Trump administration, stated that the United States and India are close partners and will resolve their differences, including the long-delayed trade agreement. Officials from both countries are scheduled to speak by phone on Tuesday to discuss the agreement. India was among the first countries expected to sign an agreement with Washington last year, but the two sides have so far failed to reach an agreement on outstanding issues. Speaking on his first day in office at the U.S. Embassy in New Delhi on Monday, Gor said, “True friends may have disagreements, but they will eventually resolve them. We continue to engage actively; in fact, the next trade dialogue will take place tomorrow. Remember that India is the world’s most populous country, and pushing an agreement into place will not be easy, but we are determined to achieve our goal.”On January 12th, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) recently organized a series of special symposiums. Led by Zhang Yuzhuo, Secretary of the Party Committee and Director of SASAC, and chaired by other SASAC leaders in groups, the symposiums aimed to gather opinions and suggestions from various central enterprises, address their concerns, and further build consensus on the work for the 15th Five-Year Plan period. After in-depth discussions, participants unanimously agreed that the goal of optimizing and expanding state-owned enterprises and state-owned capital should be prioritized, with enhancing value creation capabilities as the top priority. This includes proactively planning a number of major projects and landmark initiatives, continuously expanding effective investment, and striving to achieve both qualitative improvement and reasonable quantitative growth. It is crucial to deeply understand and grasp the strategic deployment for optimizing the layout and structure of the state-owned economy, focusing on core businesses and the real economy, promoting the deep integration of technological and industrial innovation, accelerating the transformation and upgrading of traditional industries, further developing emerging and future industries, coordinating domestic and international markets and resources, balancing high-quality development and high-level security, and accelerating the construction of a modern industrial system.Switzerlands December consumer confidence index will be released in ten minutes.On January 12, Foreign Ministry Spokesperson Mao Ning held a regular press conference. Reports indicated that Foreign Minister Wang Yi was originally scheduled to visit Somalia last week, but the itinerary was adjusted due to "scheduling reasons." What was the reason for the change? Was it due to security concerns? "Following friendly consultations between the foreign ministries of China and Somalia, Foreign Minister Wang Yi adjusted his visit itinerary," Mao Ning further stated. He added that during his time in Africa, Foreign Minister Wang Yi held a telephone conversation with Somali Foreign Minister Dee, stating that China will consistently support Somalia in safeguarding its sovereignty, unity, and territorial integrity. The two sides also reached new consensus on deepening cooperation in various fields.On January 12, in response to a statement from the US leader that China would strike Iran if it harmed protesters, Foreign Ministry Spokesperson Mao Ning stated at a regular press conference that China hopes the Iranian government and people can overcome current difficulties and maintain national stability. China consistently opposes interference in other countries internal affairs, consistently maintains that the sovereignty and security of all countries should be fully protected by international law, opposes the use of force or the threat of force in international relations, and calls on all parties to do more to promote peace and stability in the Middle East. Mao Ning said that China is closely monitoring the situation in Iran and has not yet received any reports of Chinese citizens being injured or killed in Iran. China will do its utmost to ensure the safety of Chinese citizens in Iran. Chinese citizens in Iran are advised to pay attention to the local security situation and take necessary measures to safeguard their own safety. If assistance is needed, they can contact the Chinese Embassy in Iran or call the consular protection hotline.

Stock Markets Continue to See Downward Pressure

Skylar Shaw

Jun 15, 2022 14:17

In the futures market, the S&P 500 managed to rebound a little overnight, but it seems that the negative pressure is still there. Stocks seem to be poisonous at this time.

Technical Analysis of the S&P 500

During Tuesday's trading session, the S&P 500 attempted to rise but swiftly gave up its gains. That said, the market is expected to continue to suffer a lot of selling pressure if it tries to rise, so we're likely to keep going down and aim to hit the 3700 level. In the end, this is a downtrending market, and I believe the S&P 500 will continue to suffer as long as the Federal Reserve continues to tighten interest rates. Furthermore, since inflation in the United States is now out of control, worry is more likely than not to persist.


Looking at the chart, I don't see any reason to be a buyer of the S&P 500, and even though I anticipated a bigger rally throughout the day, this simply seems like a market that will be pummeled by negative news no matter what occurs. We may eventually witness a large bear market rebound, which is notoriously savage, but at this point, that will simply provide a chance to short this market even more.


Finally, I'm fading rallies as they happen, although to be honest, we haven't had a rally large enough for me to do so yet. This market seems to be on the edge of panic, and it appears that Wall Street has finally realized that the Federal Reserve will not help traders, at least not in the near future.