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Mercedes-Benz CFO: We expect car sales to reach 1.7 million units in 2026.July 28th - ING analysts Warren Patterson and Ewa Manthey noted that gold prices rose on Monday as a sharp drop in oil prices eased inflation concerns and pressured the dollar and US Treasury yields. Mondays sharp decline in oil prices eased inflation concerns and the prospect of further monetary tightening. This move followed the pause in hostilities between the US and Iran. Lower oil prices also pressured the dollar and US Treasury yields, improving the outlook for non-interest-bearing assets ahead of this weeks Federal Reserve meeting. The market is currently focused on the Federal Reserve and upcoming US inflation data for further guidance on the interest rate outlook. If yields remain subdued, gold prices should continue to find support near current levels. However, any hawkish surprises from the Federal Reserve could limit further upside potential in the near term.On July 28, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian stated that four months have passed since the illegal entry of Japanese Self-Defense Force officer Akihiro Murata with a knife into the Chinese Embassy in Japan. Despite repeated strong representations from China, the Japanese side has repeatedly delayed the investigation and handling of the case, using various pretexts such as so-called "mental evaluation," and has failed to promptly and severely punish the perpetrator. China expresses its strong dissatisfaction with this. Lin Jian pointed out that serious incidents threatening the security of Chinese embassies and consulates in Japan have continued to occur from time to time. "We once again urge the Japanese side to thoroughly investigate and rectify the situation, reflect on its mistakes, delve into the root causes, and provide a responsible explanation to China and the international community," Lin Jian said.On July 28, Foreign Ministry Spokesperson Lin Jian held a regular press conference. A reporter from The New York Times asked, "According to reports, the U.S. State Department plans to invest hundreds of millions of dollars to counterbalance Chinas growing influence in the Americas, Africa, and Asia. What is Chinas response to this?" Lin Jian stated that normal relations and cooperation between countries should not be targeted at any third party. China has consistently opposed the formation of closed and exclusive "small circles." Lin Jian emphasized that Chinas cooperation with relevant countries and regions, especially with developing countries, is not about courting or confronting anyone, but about jointly safeguarding world peace, promoting global development, maintaining international order, and jointly building a community with a shared future for mankind.July 28th Futures News: On July 28th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 338,646 tons, an increase of 8,264 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,600 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 119 tons. 6. Petroleum asphalt futures warehouse receipts: 11,290 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 18,210 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.

E-mini S&P 500 Index (ES) Futures Technical Analysis – Tech Sector Recovery Helping to Pare Earlier Losses

Cory Russell

Jul 15, 2022 15:14

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A jump in recession worries was sparked by dismal quarterly reports from two major U.S. banks and hotter-than-expected consumer and producer inflation data. As a consequence, September E-mini S&P 500 Index futures are down as of late Thursday, although they are still off their intraday lows.


Following the release of JPMorgan Chase & Co. and Morgan Stanley's second-quarter results, the benchmark index started the cash market with a significant decline. Both disclosed declining profitability and issued warnings about an upcoming economic recession.


September E-mini S&P 500 Index futures are now trading at 3795.50, down 9.0 or -0.24 percent, at 18:04 GMT. This is higher than the day's low of 3723.75. The S&P 500 Trust ETF (SPY) is down $0.44 or 0.12%, trading at 378.39.


Late in the afternoon, losses are being reduced, and the technology sector is now in the black thanks to a recovery in semiconductor prices.

The near future

The response of traders at 3804.50 will probably influence the movement of the September E-mini S&P 500 Index into Thursday's closing.

Positive Scenario

The existence of buyers will be confirmed by a prolonged advance over 3804.50. Look for a probable burst into the minor retracement zone of 3837.00 to 3863.50 if this move generates enough upward momentum. The resistance cluster at 3922.00 is the next possible resistance after this location.


The primary trend will switch to up if a transaction is made through 3922.00. The uptrend will be confirmed by a move through 3950.00, but I won't start getting enthusiastic about the upside until I see a close over the main Fibonacci level at 3988.75.

Grizzly Situation

Sellers will be there if there is a persistent move below 3804.50. The short-term 50 percent mark at 3794.50 must be broken below to signal that the selling is intensifying. This might result in a swift breach into the 3757.75 short-term Fibonacci level. Before the intraday low at 3723.75, this is the final possible support.


The downtrend will be confirmed if 3723.75 is taken out, with 3639.00 serving as the next significant drop objective.

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