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According to Axios: A senior U.S. official said Iran has submitted an updated ceasefire proposal, but the White House believes the proposal lacks substantial improvements and is insufficient to reach an agreement.On May 18th, according to CNBC, EU Economic Affairs Commissioner Dombrovskis stated that the spring economic forecasts, to be released later this week, will show downward revisions to economic growth figures, while inflation figures will rise, due to the "stagflation shock" from the war with Iran. Dombrovskis stated, "We are experiencing a stagflation shock." He added that policymakers now have "more limited" room for action, with little room for large-scale fiscal responses like those during the pandemic. He stated, "We believe that the support measures we take should be temporary and targeted, rather than those that will actually drive sustained growth in demand for fossil fuels." Meanwhile, Dombrovskis described the EUs release of strategic petroleum reserves as "ongoing," adding concerns about supply shortages in areas such as innovative fuels. He stated, "The longer the conflict lasts, the greater the risk of certain supply bottlenecks, which further confirms our view that policy responses should not increase demand for fossil fuels."According to CNBC, Trump will introduce more prescription drug discount options.Turkish Foreign Minister: There is no reason why Iran and the United States cannot reach an agreement on a neutral position through negotiations.According to CNBC, the European Union will lower its economic growth forecast and raise its inflation forecast.

S&P 500 Price Forecast – Stock Markets Continue to See Selling Pressure

Skylar Shaw

Sep 30, 2022 15:09

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Technical Analysis of the S&P 500

Due to the continued strong downward pressure on stock markets, the S&P 500 E-mini contract has been quite bearish throughout Thursday's trading session. In the end, a lot of things are happening all around the globe, and the US dollar is strengthening. The S&P 500 won't do well in that climate, and neither will any other stock index, for that matter. I like fading rallies, and I also enjoy the notion of shorting those who do experience that break down below the 3600 mark.


The S&P 500 will likely have dropped below the 3500 level by then, which is a big, round, psychologically meaningful number. In the end, this is a market that, given enough time, should see a lot of volatility and, therefore, a lot of causes for people to feel uneasy. Nevertheless, bear market rallies have a reputation for being rather nasty, so an occasional snap to the upside is possible.


Given the market's continued exposure to a lot of outside unfavorable impact, they will almost certainly remain selling opportunities. Interest rates, global slowdowns, and a slew of other geopolitical concerns are all producing problems at the moment. In the end, I believe that in this situation, with enough time, we should see significant downward pressure. In light of this, maintain a manageable position size and refrain from going all in on each transaction you make. In a market like this, sound money management is essential.

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