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Ukrainian President Volodymyr Zelensky lashed out at the U.S. Embassy on April 5, calling its statement "weak" and failing to blame Russia for the missile attack on the Ukrainian city of Krivyh.On April 5, OPEC+ major members reiterated that they must strictly abide by their oil production quotas after the group unexpectedly announced an accelerated pace of production increases, causing crude oil prices to plummet. According to a statement released by the group on its official website on Saturday, the OPEC+ Joint Ministerial Monitoring Committee (JMMC) noted that some member countries had failed to fully comply with production restrictions and had not further cut production as promised to make up for excess production. These countries were told to submit compensation plans by April 15. OPEC+ shocked the oil market last week when it announced that it would accelerate production increases. Delegates privately said the move was aimed at urging member countries such as Kazakhstan and Iraq to strengthen enforcement discipline.April 5th news: So far, the strong earthquake in Myanmar has caused 3,455 deaths, 4,840 injuries and 214 missing persons.On April 5, after US President Trump announced the "reciprocal tariff" plan, Apples stock price suffered a heavy blow for two consecutive trading days, and its market value shrank significantly. According to the calculation of investment bank Morgan Stanley, the imposition of tariffs on China will increase Apples costs by about US$8.5 billion each year. Reuters quoted analysts as saying that if Apple passes all tariff costs on to consumers, the retail price of iPhone16 Pro Max in the United States will rise from the current US$1,599 to US$2,300 (about RMB 16,750). During Trumps first term, Apple began to promote the diversification of its supply chain, but the Trump administrations plan to impose high "reciprocal tariffs" on Southeast Asian countries will undoubtedly hit Apples supply chain hard.Ukrainian military: Russian troops used cluster weapons in "brutal" attack on Krivelikh.

E-mini S&P Pressured by Inflation, Economic Growth Worries

Cameron Murphy

Apr 27, 2022 10:35

Investors are waiting to see if earnings from Big Tech companies this week would offer the support needed to stop the current sell-off. June E-mini S&P 500 Index futures are trading lower shortly after the cash market opened on Tuesday. Concerns about high inflation and weakening global economy are driving the price activity.


June E-mini S&P 500 Index futures are trading at 4231.25, down 61.50 or 1.43 percent, at 14:17 GMT. The S&P 500 Trust ETF (SPY) is down $6.31, or 1.47 percent, to $422.20.


According to Refinitiv statistics, 77.5 percent of the 102 businesses in the S&P 500 that reported earnings through Monday exceeded analysts' profit projections. In a typical quarter, 66 percent of results exceeded expectations.

Earnings Reports

United Parcel Service Inc increased 1.9 percent after reporting an increase in quarterly adjusted earnings, while 3M Co rose 0.9 percent after exceeding profit expectations.


General Electric Co slumped 3.5 percent after expecting full-year earnings at the low end of its previous estimate, as the industrial behemoth struggles with supply chain interruptions and rising freight and raw materials costs.


Core Durable Goods Orders in the United States increased 1.1 percent, exceeding expectations and the previous reading. The Consumer Confidence survey from the Conference Board came in at 107.3, lower than the prediction of 108.5, but the preceding report was revised upward. Finally, new home sales came in at 763,000, which was lower than expected. The preceding month's figures were revised upwards.

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 4195.25. The major trend will turn to up if the price breaks through 4509.00.


4094.25 to 4631.00 is the short-term range. Resistance is found in the retracement zone of 4299.25 to 4362.75. Earlier in the session, the bottom or Fibonacci level of this range stopped the purchasing.

Technical Forecast for the Daily Swing Chart

Trader reaction to 4292.75 will influence the direction of the June E-mini S&P 500 Index into Tuesday's closing.

Reaction: Bearish

The presence of sellers will be shown by a persistent rise below 4292.75. If the minor bottom at 4195.25 is broken, it will imply that the selling pressure is increasing. This might cause a sell-off to begin, with the first negative target of 4129.50, followed by 4094.25.

Positive Reaction

The presence of buyers will be signaled by a prolonged advance over 4292.75. Overtaking the Fibonacci level at 4299.25 will signal a strengthening of the buying. This could prompt a move higher, with the primary 50 percent milestone at 4362.75 as the next big objective.