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Fannie Mae: The average interest rate for a 30-year fixed-rate mortgage in the United States was 6.66% in the week ending July 30, a one-year high, up from 6.58% the previous week.Qualcomm (QCOM.O) CEO: The price increase of memory chips is outrageous. Higher prices are changing consumer behavior.The German DAX 30 index closed up 164.94 points, or 0.65%, at 25,613.70 on Thursday, July 30; the UK FTSE 100 index closed down 11.52 points, or 0.11%, at 10,896.89 on Thursday, July 30; and the French CAC 40 index closed up 77.37 points, or 0.92%, at 8,485.64 on Thursday, July 30. The Stoxx 50 index closed up 96.51 points, or 1.54%, at 6345.35 on Thursday, July 30; the Spanish IBEX 35 index closed up 357.73 points, or 1.84%, at 19748.03 on Thursday, July 30; and the Italian FTSE MIB index closed up 637.89 points, or 1.24%, at 52081.00 on Thursday, July 30.Amazons self-driving taxi service, Zoox, will first begin charging fares in Las Vegas, and will later expand to other markets. It will initially accept a limited number of passengers in Austin and Miami.On July 30th, Berenberg Bank analyst Andrew Wishart stated in a report that despite the energy price shock, European economic activity showed resilience in the second quarter, reducing the likelihood of a "precautionary rate hike" (aimed at preventing a new wage-price spiral) threatening the job market. He stated, "We believe the Bank of England may implement its threat of a 25 basis point rate hike if energy prices rise further." However, since this economic resilience has not translated into a recovery in labor demand, the trend of slowing inflation is likely to continue. Wishart believes this will allow policymakers to soften their hawkish stance and instead implement rate cuts to support employment. He expects the Bank of England to resume rate cuts in December and lower the policy rate from 3.75% to 3.0% by mid-2027.

E-mini S&P 500 Index (ES) Futures Technical Analysis

Jimmy Khan

May 17, 2022 10:21

微信截图_20220510160128.png


June E-mini S&P 500 Index futures are trading at 4042.75, up 23.00 or +0.57%, at 18:33 GMT. The S&P 500 Trust ETF (SPY) is up $1.91, or 0.48 percent, to $403.70.


On Monday, top IT companies took another knock early in the day. Apple's stock dropped 1% after briefly falling into a bear market last week. Tesla's stock has plummeted 5%. Alphabet, the parent company of Google, saw its stock drop 1.6 percent. Apple was up 0.14 percent late in the afternoon, while Tesla and Alphabet pared their losses.

Swing Chart Every Day Technical Evaluation

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 3855.00. The major trend will turn to up if 4303.00 is broken.


4303.00 to 3855.00 is the short-term range. The closest upward goal is the retracement zone around 4079.00 to 4132.00.


4509.00 to 3855.00 is the middle range. Its pivot or 50 percent level is 4182.00.


4327.50 to 4439.00 is the key retracement zone resistance.

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