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On March 7th, Bai Jingyu, Director of the Innovation and High-Tech Development Department of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan constructs a development sequence for emerging industries that combines short-term and long-term goals, consisting of strategic emerging industries, emerging pillar industries, and future industries. Looking to the present, the plan continues to focus on the development of strategic emerging industries such as next-generation information technology and new energy, and builds industrial clusters with distinctive characteristics and complementary advantages tailored to local conditions. In the medium term, it focuses on developing emerging pillar industries such as integrated circuits, biomedicine, and aerospace, constructing new pillars for national economic development. Looking to the long term, it proactively plans for future industries such as quantum technology, brain-computer interfaces, and embody intelligence, cultivating strategic emerging industries for "tomorrow" and pillar industries for "the day after tomorrow."On March 7th, Chen Lei, Director of the Development Strategy and Planning Department of the National Development and Reform Commission (NDRC), stated at a press briefing held by the State Council Information Office that in recent years, Chinas level of opening up to the outside world has been continuously improving. The negative list for foreign investment access has been reduced to 29 items, and restrictions on foreign investment access in the manufacturing sector have been completely eliminated. The next step will be to expand market access and open areas with a focus on the service sector, promoting the orderly expansion of opening up in telecommunications, the internet, education, culture, and healthcare, advancing comprehensive pilot demonstrations for expanding the opening up of the service sector, and further reducing the negative list for foreign investment access, thus providing foreign companies with "broader" investment opportunities in China. Simultaneously, diverse forms of openness will be created.On March 7, Liu Dechun, Director of the Department of Social Development of the National Development and Reform Commission, stated at a press briefing held by the State Council Information Office that the draft outline of the 15th Five-Year Plan proposes, in terms of building a fertility-friendly society, expanding the coverage of the maternity insurance system, reasonably improving the level of protection for prenatal medical expenses, and fully implementing the maternity leave system.On March 7th, Chen Lei, Director of the Development Strategy and Planning Department of the National Development and Reform Commission (NDRC), stated at a press briefing held by the State Council Information Office that during the 14th Five-Year Plan period, China utilized over US$750 billion in foreign investment, with overseas investments spanning 190 countries and regions. During the 15th Five-Year Plan period, China will continue to optimize the foreign investment environment, fully implement national treatment for foreign-invested enterprises, improve the service and support system for foreign investment, and ensure both market access and operational rights. China welcomes more foreign-invested enterprises to invest in China and share the enormous development potential in advanced manufacturing, modern services, high technology, energy conservation, and environmental protection. Simultaneously, China will improve its overseas comprehensive service system and support qualified enterprises to conduct mutually beneficial overseas investment cooperation.The National Highway Traffic Safety Administration (NHTSA) has recalled 11,787 General Motors (GM.N) vehicles in the United States because engine shutdown increases the risk of a collision.

S&P 500 Price Forecast – Stock Markets Continue to Slump

Cory Russell

Oct 11, 2022 15:27

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Technical Analysis of the S&P 500

It does make sense that we would ultimately continue to decline since the S&P 500 E-mini contract gapped lower to open the Monday session. We have already filled that need, and now we are turning around and acting negatively. At this moment, 3600 seems to be nearly a lock, therefore I do think that a lot of people were going to enter the market at the first indication of weariness. With an eye on the 3500 level, if we can go below the 3600 level, it's possible that this market will decline much farther.


A recovery rally may begin if the candlestick for the Monday session is broken above the top.


However, this rally is likely to be short-lived because the market is still under the influence of many negative factors, not the least of which are the rising interest rates and, of course, the unfavorable macroeconomic conditions around the world. After all, the S&P 500 is filled with global juggernauts that, of course, do business globally.


Given that, it is highly possible that there will be a lot of back-and-forth, always looking for the negative. I believe that at this time, you must see this through the lens of choppy volatility with pessimism lurking behind it since the 50-Day EMA is breaking hard right below the 3900 mark. As a result, the market is quite likely to decline since volatility does not encourage confidence.

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