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According to RIA Novosti, Ukrainian armed forces attacked a bus carrying children from Belarus in the Bryansk region.According to Hong Kong Stock Exchange documents, Beijing Rongxin Digital Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.June 17th - The market generally believes that the Federal Reserve will maintain interest rates unchanged. However, uncertainty lies in the economic outlook and how new Chairman Warsh will lead the Fed. The Fed currently faces a resilient job market, strong consumer spending, and inflation still above target. However, the high price readings may decline later this year. Furthermore, Fed watchers expect Warsh to attempt to reshape some of the Feds communication and policy decision-making practices. While its unclear how much will change at the first meeting, its widely expected that he will move in the following directions: reduce the Feds forward guidance on interest rate expectations; possibly abolish the so-called "dot plot," with some suggesting Warsh might not even submit his own forecasts at this meeting; and reduce the frequency of press conferences. Nancy Houten, chief US economist at Oxford Economics, expects the Fed not to raise rates in June, but will adjust its wording, removing any dovish signals. At the last meeting, some members wanted a more open-ended approach, rather than implying that the next step would definitely be a rate cut. While the market has already priced in the possibility of a rate hike later this year, the baseline forecast is a rate cut in December. However, the economist acknowledges the risk that a rate cut may occur later than December.Tencent Holdings (00700.HK): On June 17, it repurchased 1.118 million shares, costing approximately HK$500 million.Tencent Holdings (00700.HK): On June 17, it spent approximately HK$500 million to repurchase 1.118 million shares on the Hong Kong Stock Exchange.

E-mini S&P 500 Index (ES) Futures Technical Analysis – Reaction to 3975.00 – 3946.50 Sets Near-Term Tone

Jimmy Khan

May 19, 2022 11:16

The three-day rise in June E-mini S&P 500 Index futures collapsed under the weight of a dismal performance in Target shares soon before the mid-session on Wednesday.


Target Corp's shares dropped 25.1 percent to the bottom of the S&P 500 index after the firm's first-quarter earnings was halved and the company warned of a worse margin impact due to increased fuel and freight expenses.


June E-mini S&P 500 Index futures were trading at 4009.50 at 14:58 GMT, down 75.25 or 1.84 percent. The S&P 500 Trust ETF (SPY) is down $7.64, or 1.87 percent, to $400.68.


Target's lead was followed by other retail growth companies, although not to the same extent. Other retailers' stocks fell between 4.1 percent and 11.8 percent, including Walmart Inc, Gap Inc, Kohl's Corp, Nordstrom Inc, Costco, Best Buy, Macy's Inc, and Dollar General Corp.


In early trading, all 11 main S&P sectors fell, with consumer staples and consumer discretionary down 3.5 percent apiece.

Technical Analysis of the Daily Swing Chart

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. Its retracement zone of 4079.00 to 4132.00 halted the surge at 4095.00 earlier today.


3855.00 to 4095.00 is the minor range. The next negative objective is the retracement zone from 3975.00 to 3946.75.

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