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Israeli Prime Minister Netanyahu: The war with Iran is not over yet.Israeli Prime Minister Benjamin Netanyahu told CBS that while much of Iran’s capabilities have been weakened, much work remains to be done because Iran still possesses considerable strength.According to Saudi media outlet alhadath, Israeli Prime Minister Benjamin Netanyahu stated that Iran continues to support its proxies and armed groups, and that Iran is seeking to produce more ballistic missiles.Domestic News: 1. Suzhou City optimizes housing provident fund usage policies. 2. Shanxi Province adjusts housing provident fund loan and withdrawal policies. 3. Global chip LOF trading will be suspended from Mondays opening until 10:30 AM. 4. The Ministry of Commerce issues a notice regarding the implementation of beef safeguard measures for 2026. 5. The State General Administration of Sport: Focus on athletes performance on the field, and will not organize or participate in birthday celebrations or similar activities. 6. He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, will lead a delegation to South Korea from May 12th to 13th to hold trade consultations with the United States. International News: 1. US Energy Secretary: The government is open to suspending fuel taxes. 2. Spanish official: All personnel on the "Hondias" ship are asymptomatic, and repatriation is expected to be completed tomorrow. 3. US Treasury Secretary Bessenter: I will depart on Monday for a series of brief meetings in Japan and South Korea. 4. Middle East situation—① Iran says it will enter a new operational area if the enemy attacks again. ② Irans response to the US proposal has been delivered through Pakistan. ③ A Qatari liquefied natural gas (LNG) carrier passed through the Strait of Hormuz for the first time in approximately 70 days. ④ Iranian Navy Commander: Domestically built light submarines are on standby in the Strait of Hormuz. ⑤ Trump: The U.S. has been monitoring the enriched uranium buried by Iran under the rubble, and will immediately be notified if anyone approaches and will destroy it.On May 10th, according to NBC News, U.S. Energy Secretary Wright stated in an interview that the Trump administration is "open to all ideas" to lower gasoline prices, including suspending the federal fuel tax. According to data from the American Automobile Association, the average price of gasoline across the U.S. surged to $4.52 per gallon on Sunday, an increase of more than 50% since the start of the war with Iran. Wright added that everything comes at a price. He stated that he cannot predict energy prices in the short to medium term. However, what the U.S. government is doing now is ending the 47-year confrontation with Iran. When pressed again about whether gasoline prices would reach the $5 mark, Wright said he "didnt want to predict prices."

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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