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Due to the Labor Day holiday in the United States, CBOT agricultural futures, ICE raw sugar, and cotton futures will be closed for one day; CME Groups precious metals and U.S. crude oil futures contracts will end early at 02:30 Beijing time on the 8th; ICE Brent crude oil futures contracts will end early at 01:30 Beijing time on the 8th.ANZ Senior Economist Jasmine Zheng: Therefore, we expect the number of job advertisements to gradually decline. However, given the resilience of the sector, we expect the rise in the unemployment rate to be moderate.The Peoples Bank of China (PBOC) announced today that it conducted 500 million yuan of 7-day reverse repurchase operations, with a bid amount of 500 million yuan and a winning bid amount of 500 million yuan. The operation rate was 1.40%, unchanged from the previous rate.September 7th - Over the next three days, cold air will continue to affect northern China, bringing heavy rainfall eastward. The Central Meteorological Observatory forecasts that today, parts of eastern Qinghai, central and southern Gansu, central and northern Shaanxi, central and northern Shanxi, central and western Hebei, western and southern Beijing, western Sichuan Basin, northeastern Heilongjiang, southwestern Yunnan, and southeastern Tibet will experience moderate to heavy rain, with some areas in central Shanxi and western Hebei experiencing torrential rain. In the coming days, the cold air will gradually move eastward and southward, bringing not only rainfall to northern China but also a significant drop in temperature from north to south. The temperature drop in northern China will be concentrated from today to the 9th, while southern China will also experience a cooling trend from the 9th to the 10th.On September 7th, the General Office of the Chengdu Municipal Committee of the Communist Party of China and the General Office of the Chengdu Municipal Peoples Government released the "Implementation Opinions on Optimizing the Ecosystem for Scientific and Technological Innovation." The development goal is to simultaneously promote scientific and technological innovation and the transformation of scientific and technological achievements, focusing on key aspects such as cultivating key players, empowering platforms, transforming achievements, and providing essential support. This involves strengthening organized innovation, conducting systematic matchmaking, promoting high-quality transformation, and building an innovation ecosystem characterized by "active key players, well-developed platforms, smooth transformation, concentrated resources, and inclusive systems," thus forming a pattern where scientific and technological innovation leads industrial innovation. By 2028, the number of national and provincial specialized and innovative enterprises will significantly increase, the R&D intensity of the whole society will reach 4.3%, and the number of high-value invention patents per 10,000 people will reach 30.

S&P 500 Price Forecast – Stock Markets Running Out of Momentum

Steven Zhao

Oct 28, 2022 15:41


Technical Analysis of the S&P 500

During the trading session on Thursday, the S&P 500 E-mini contract fluctuated back and forth as it seemed that momentum was beginning to wane. As we ended up producing a significant shooting star during the previous session, the market is now expected to continue to receive a lot of inquiries regarding the probable direction of the stock market. It's probable that we will keep moving down and that the long-term downtrend will continue if we break back down below the 50-Day EMA. I would anticipate losing 3800 at that time and moving on to the 3600 level.


On the other hand, it's possible that the upside will be challenged further into the 4000 level if we were to break above the top of the shooting star from the Wednesday session.


However, I do believe that this is a situation where you should be looking for shorting opportunities as the Federal Reserve will have to continue tightening monetary policy. Of course, there is also the possibility that the market could receive a shock next week as the Federal Reserve returns to the scene with its monetary policy statement and of course the press conference that follows.


Wall Street continues to believe that the Federal Reserve will save it, despite the fact that the Fed has repeatedly said that it wants lower stock prices and to reduce demand.

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