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China Passenger Car Association: Teslas wholesale sales in China reached 89,091 units in June.July 2nd - Key drivers of strong growth in new energy passenger vehicles: inverted oil prices, supply optimization, and export synergy. 1. High oil prices accelerate consumption structure shift. Affected by the obstruction of navigation in the Strait of Hormuz, domestic retail prices of refined oil products remained high, significantly increasing the cost of using traditional fuel vehicles and directly suppressing consumer willingness to purchase them. Against this backdrop, end-user demand accelerated its shift towards new energy vehicles, providing rigid support for new energy vehicle sales. 2. Optimized production scheduling and capacity release by automakers. Mainstream automakers actively promoted the transformation of fuel vehicles to new energy vehicles, driving the month-on-month increase in wholesale sales in June to over 10%, with a significantly faster response on the supply side. 3. Explosive growth in overseas markets. High international oil prices led to a surge in demand from overseas consumers for low-energy-consumption, high-cost-performance new energy vehicles. Domestic brands, leveraging mature electrification technology and outstanding cost advantages, created a strong substitution effect for fuel vehicles in overseas markets, with exports steadily expanding, further supporting domestic production and sales.French authorities stated that the Russian oil tanker "Tagor," which was previously detained, has paid a fine of 1 million euros.Daly, a 2027 FOMC voting member and president of the Federal Reserve Bank of San Francisco, will participate in a meeting on the Spanish economy in ten minutes.Indian Petroleum Minister: India intends to acquire overseas oil assets.

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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