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On October 27, United Precision announced that its third-quarter revenue was 152 million yuan, a decrease of 12.91%, and its net profit was 8.1611 million yuan, a decrease of 50.81%. For the first three quarters, its revenue was 597 million yuan, an increase of 10.37%, and its net profit was 59.5416 million yuan, an increase of 18.57%.Shares of U.S. rare earth miners fell in pre-market trading, with MP Materials (MP.N) down 6%, USA Rare Earth (USAR.O) down 8% and Critical Metals (CRPL.O) down nearly 10%.The European Central Banks three-year CPI forecast for the euro zone in September is 2.5%, up from 2.50% in the previous month.The European Central Banks one-year CPI forecast for the euro zone in September is 2.8%, up from 2.80% in the previous month.On October 27th, the European Central Banks survey on corporate financing conditions, released on Monday, showed that eurozone companies generally remain optimistic about future business prospects, but at the same time are concerned that inflation may reach higher levels. The ECB stated that a net 25% of companies surveyed were optimistic about developments in the next quarter, an increase from three months ago, but companies continued to feel the pressure of declining profits. The ECB noted: "Companies median annual inflation expectations for the next year remained at 2.5%, while expectations for the next three and five years remained at 3.0%." "In the five-year outlook, most companies still believe that the risks to the inflation outlook are tilted to the upside."

S&P 500 Price Forecast – S&P 500 Continues to Consolidate Just Above Trend Line

Skylar Shaw

Feb 28, 2023 15:50

S&P 500 Technical Analysis

The S&P 500 has rallied a bit during the trading session on Monday, as we are sitting just below a couple of major moving averages in the form of the 50-Day EMA and the 200-Day EMA. They both attract a lot of attention, so it is worth paying attention to the fact that the market does not seem to be in a hurry to get above those moving averages, which of course could be a bit of a head. We are also right around the psychologically important 4000 level, so a lot of traders will be looking to go in both directions at this point. Adding even more volatility to the mix is the fact that we are in the midst of earnings season, and recently there has been a lot of games played with the “zero day to expiration” options market, meaning that people are placing extremely short-term options trades that are kicking the market around.


If we were to break down below the lows Friday, that would show a significant continuation to the downside, perhaps opening up the downside all the way to the 3900 level, possibly even the 3800 level after that. Keep in mind that interest rates continue to rise, therefore putting a little bit of an anchor on the stock market. However, if we do see interest rates are to fall again, and we can break above the moving averages, then it’s possible that we could see the S&P 500 try to reach towards the 4100 level.


That being said, the last couple of weeks have been shaky to say the least, and therefore we could see a continuation of this overall negativity. I think the only thing you can probably count on at this point in time is going to be an extreme amount of volatility, because of this, it’s very possible that we could see more choppiness, instead of less. Make sure you keep your position size reasonable because things could get ugly rather quickly.

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