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On April 20th, six departments, including the Zhuhai Municipal Housing and Urban-Rural Development Bureau, issued a notice on optimizing and adjusting the citys real estate policies. The notice proposes optimizing housing provident fund loan policies. First, it increases the maximum housing provident fund loan amount. For eligible families with single or dual contributors, the maximum individual housing provident fund loan amount is increased from 800,000 yuan to 1 million yuan and from 1.3 million yuan to 1.5 million yuan, respectively. Second, it expands support for families with multiple children purchasing homes. For families with multiple children applying for a provident fund loan to purchase a second owner-occupied home, the loan amount can be increased by 20% on top of the available loan amount, but not exceeding the citys maximum provident fund loan limit. Third, it increases the upward adjustment ratio for loans to purchase green buildings. For employees who contribute to the housing provident fund and purchase commercial housing that meets the national standard for two-star green building or has been identified as a prefabricated building project, the loan amount can be increased by 20% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city; for those who purchase commercial housing that meets the national standard for three-star green building, the loan amount can be increased by 30% on the basis of the available loan amount, but shall not exceed the maximum limit of housing provident fund loans in our city.CEO of chemical company Fertiglobe: Nitrogen fertilizer prices may rise further.Market news: The U.S. State Department announced the suspension of all consular services in Iraq and stated that some factions within the Iraqi government are providing cover for "Iranian-allian-linked Iraqi terrorist militias."April 20 - The Japan Meteorological Agency revised the magnitude of the earthquake that struck the northeastern coastal region of Japan to 7.7 and the depth to 20 kilometers.On April 20th, the Guangdong Provincial Party Committees Financial and Economic Affairs Commission held a meeting to analyze the economic situation in the first quarter and to plan and promote key projects for the next stage of economic work. Huang Kunming presided over the meeting, and Meng Fanli attended. The meeting emphasized the need to focus on the work in the second quarter and throughout the year, consolidating and expanding the positive momentum of the economy. It stressed the importance of comprehensively strengthening the foundation for industrial development, adhering to the principle of mutual promotion between industry and technology, and the coordinated development of manufacturing and service industries. This includes further strengthening pillar industries such as electronic information and new energy vehicles, accelerating the optimization and upgrading of traditional industries through technological innovation, brand cultivation, and standard leadership, strengthening the support of the service industry, and promoting the mutual achievement of a "manufacturing powerhouse" and a "service hub," thus better solidifying the "ballast stone" of the real economy. The meeting also emphasized the need to vigorously expand domestic and international markets, deepen the implementation of "Guangdong Trade Global," actively develop new forms and areas of foreign trade, and continue to successfully hold exhibitions such as the Canton Fair to better stabilize the international market.

Following the GDP Miss, the E-mini S&P 500 Has Given Up Some of Its Earlier Gains

Skylar Shaw

Apr 29, 2022 10:19

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Following a good earnings announcement from Meta Platforms, June E-mini S&P 500 Index futures are trading higher immediately after the cash market opens, as the benchmark index seeks to recoup from this month's sell-off.


The June E-mini S&P 500 Index is now trading at 4194.75, up 14.50 points or 0.35 percent, at 14:28 GMT. The SPDR S&P 500 Trust ETF (SPY) is now trading at $418.48, up $1.21 or 0.29 percent.


Following a beat on results, Meta's stock jumped roughly 16 percent, indicating that investors may be seeing indications of reprieve in the battered tech industry. Prior to the announcement, the stock was down 48% year to date.

Increased Wages Sentiment in the Market

In addition to Meta's gains, Qualcomm gained more than 8% on the basis of good results, while PayPal gained over 5% despite providing disappointing second-quarter outlook.


Following their quarterly releases, McDonald's, Merck, Eli Lilly, and Southwest were all up on Thursday.


Despite a positive earnings surprise, Caterpillar's stock dropped roughly 5%. After posting weaker-than-expected earnings, Teladoc's stock dropped by more than 44%.


Traders are unconcerned by the US GDP shortfall.


In economic news, the United States' Gross Domestic Product (GDP) unexpectedly fell by 1.4 percent in the first quarter from the previous year, contrary to the 1 percent rise projected by experts polled by Dow Jones. Some investors dismissed the economic downturn, citing the rise in prices and the trade imbalance as the primary causes.

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 4136.75. The major trend will turn to up if the price breaks through 4509.00.


The minor trend is similarly in the negative direction. A trade through 4303.50 will shift momentum to the upside and turn the minor trend to up.

Swing Chart for the Day Technical Prognosis

Trader response to 4220.00 is expected to decide the direction of the June E-mini S&P 500 Index on Thursday.

Possibilities for Growth

The presence of buyers will be shown by a prolonged advance over 4220.25. Taking out the intraday high of 4258.75 would signal that the buying is becoming more powerful. Look for a burst through the resistance cluster around 4299.25 – 4303.50 if this generates enough upward momentum.

Scenario that is bearish

The presence of selling will be signaled by a persistent move below 4220.00. Look for the selling to continue towards 4136.75 if this move creates enough bearish momentum.


Taking out 4136.75 indicates that the selling pressure is increasing. This might lead to a break through the next key bottom at 4129.50, then the year's low at 4094.25.

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