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Iranian Foreign Ministry Spokesperson Baghae: We strongly condemn the terrorist attack in southwestern Pakistan that resulted in the deaths and injuries of several Pakistani citizens. On behalf of Iran, I extend my deepest condolences and sincere sympathies to the families of the victims, the people of Pakistan, and the government of Pakistan.According to the New York Times, Qatar is negotiating with the United States and Iran to ease tensions.On July 10th, it was reported that Beatrice Patin, a senior executive at the fashion group Inditex, has resigned after more than 40 years with the company, including 25 years at the helm of its flagship brand, Zaras womens wear business. Inditex announced on Friday that Patin, who has served on the Inditex management board since 2021, will be succeeded by Alfredo Ferro, the current director of Zaras Basic collection. Inditex is currently transitioning to higher-priced, more upscale apparel and is actively pursuing exclusive collaborations with fashion designers and photographers. Recent examples include Zaras collaboration with designer John Galliano and a collection launched in partnership with pop singer Bad Bunny. While Zara has consistently driven Inditexs bold fashion strategy, its growth has slowed in recent years.French presidential palace: NATO Secretary General Rutte and Ukrainian President Zelensky will attend a meeting of the Ukrainian "Volunteer Union" in France on Monday.July 10 - China Hongqiao (01378.HK) announced that the Groups net profit for the first half of 2026 is expected to increase by about 39% compared with the same period in 2025, mainly due to the increase in the sales price of the Groups aluminum alloy products compared with the same period in 2025.

S&P 500, Nasdaq 100 Weekly Forecasts – Bond Yields Hammer Equity Sentiment

Skylar Shaw

Apr 25, 2022 10:31

It's going to be a busy week for US firms reporting first-quarter profits, with familiar names like General Electric (GE), Microsoft (MSFT), Ford (F), Twitter (TWTR), Amazon (AMZN), and Apple (APPL) all due to release their latest quarterly financial reports. Netflix (NFLX) and Tesla (TSLA) had drastically contrasting results this week, with Netflix (NFLX) falling over 35% on very low membership numbers and Tesla (TSLA) rising approximately 8% on strong sales and profitability. 


The fact that famed hedge fund billionaire Bill Ackman sold his newly acquired Netflix position for a $400 million loss after the results does not bode well for other stay-at-home tech businesses. The earnings schedule for the next week might be full of surprises.

 

While the small print of firms' balance sheets will be scrutinized next week, the 800-pound monster in the room — US interest rates and government bond yields – will need even greater scrutiny. 


Market expectations for US rate rises have risen to the point that the market is now pricing in the Federal Reserve aggressively front-loading rate hikes, with four 50 basis point raises expected at the next four FOMC meetings. 


The last time the Fed raised interest rates by 50 basis points was in May of 2000. While increased interest rates may help banks make more money, the IT industry, particularly the big names like Apple and Amazon, becomes less tempting as interest rates rise.


After Thursday's bearish engulfing candle erased the preceding three days' gains, the S&P 500 is expected to close the week flat. The 200-day simple moving average behaved as resistance, and the indices are currently trading below all three moving averages (20, 50, and 200), which is still another bad indicator. If support at 4,361 is firmly broken, 4,270 seems to be the next target.

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