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December 5th - According to a Reuters survey of economists, all 41 respondents predict that Spanish central bank policymakers will keep the benchmark interest rate unchanged at 15%, a near 20-year high, for the fourth consecutive time at their December meeting. Of the 36 respondents who answered additional questions, the majority (19) believe the central bank will cut rates in March, 14 predict January, and 3 predict April. Economists note that while the statement following the central banks monetary policy committee decision next week may subtly acknowledge recent progress in combating inflation, it will maintain a cautious tone.A Reuters poll showed that 41 economists unanimously predict that Brazils central bank will keep its benchmark interest rate at 15% on December 10, 19 expect a rate cut in March, 14 expect a rate cut in January, and 3 expect a rate cut in April.On December 5th, Japanese Prime Minister Sanae Takaichi dined with Liberal Democratic Party (LDP) Secretary-General Shunichi Suzuki and other party executives in Tokyo. This was her first dinner outside her official residence or dormitory since becoming prime minister. Having been in office for about a month and a half, the dinner likely included discussions on future governance and dealings with the Diet. Some within the LDP have expressed concern about insufficient communication between her and her party executives and members of parliament.According to the Axios website, Metas AI deal will cover CNN, Fox News, and USA Today.Polish central bank meeting minutes: Members of the monetary policy committee stated that there is uncertainty regarding the projected inflation rate, especially due to the impact of energy prices.

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.

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