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On November 26th, Haima Automobile stated on its interactive platform that the company has always adhered to a development path combining open cooperation and independent innovation in the field of hydrogen fuel cell vehicles, actively working with outstanding partners in the industry chain to jointly promote technology research and development and industrial application. Currently, the company is steadily carrying out demonstration operations of hydrogen fuel cell vehicles and is committed to building a complete hydrogen energy ecosystem.On November 26th, Mizuho Securities analyst Varatan stated that while the dollar remained stable due to a significantly increased likelihood of a Federal Reserve rate cut, it fell as the probability of Hassett being nominated as the next Fed chair rose sharply. The market does not seem to question the Feds independence, with Fed Chairs Williams, Waller, and Daly all supporting a December rate cut. However, Varatan noted that investors are digesting the possibility that Hassett could politicize the Fed. He said the "Hassett effect" could cast a shadow over the dollar, adding that the risk of dollar depreciation remains high as long as this perception of political subservience in Fed chair appointments persists.On November 26th, after Ukraine agreed to a "simplified" version of its 28-point peace plan, Trump touted significant progress in his peace efforts. However, reports indicate that the most intractable issues in the Russia-Ukraine conflict remain unresolved. The Financial Times reported that US and Ukrainian negotiators left key issues regarding territorial concessions and security guarantees "for further discussion," leaving the decision to Trump and Zelensky. This suggests that negotiations have made little progress compared to before the 28-point plan was leaked last week. The 28-point plan, spearheaded by US Special Envoy Vitkov, heavily favored Russias core demands and included a series of unacceptable clauses for Ukraine, including a ban on future NATO membership and the cession of most of the Donbas region in eastern Ukraine. It remains unclear what Ukraine agreed to in the 19-point plan. The Financial Times quoted Ukraines First Deputy Foreign Minister as saying, "Very little of the original agreement has been retained."On November 26th, the overnight SHIBOR was 1.3160%, unchanged from the previous trading day. The 7-day SHIBOR was 1.4530%, up 2.00 basis points; the 14-day SHIBOR was 1.5070%, down 3.30 basis points; the 1-month SHIBOR was 1.5190%, down 0.10 basis points; and the 3-month SHIBOR was 1.5790%, down 0.10 basis points.On November 26th, Nomura issued a report stating that NIO (NIO.N) saw a significant improvement in its profit margin in the third quarter, creating the possibility of adjusted break-even in the fourth quarter, but its fourth-quarter shipment guidance was lower than expected. Nomura maintained its target price of $8.40 for the groups US-listed shares and reiterated its "Neutral" rating. The report stated that NIOs third-quarter revenue increased by 17% year-on-year to RMB 21.8 billion, basically at the lower end of the groups guidance, as third-quarter shipments reached 87,000 vehicles, also at the lower end of guidance. Gross margin improved by 3.1 percentage points year-on-year to 13.9%, with automotive gross margin improving by 1.6 percentage points year-on-year to 14.7%, exceeding the banks and market expectations.

S&P 500 Price Forecast – Stocks Continue to Eye a Major Resistance Barrier

Cory Russell

Aug 16, 2022 15:03

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The S&P 500 E-mini contract dipped somewhat during Monday's trading session, but it is still keeping an eye on the 4300 level.

Technical Analysis of the S&P 500

In the E-mini contract, the S&P 500 has slightly declined throughout the trading session on Monday, indicating some hesitancy. Because traders had previously been able to disregard all of the warning indicators about the global economy, bad economic figures coming out of China early in the day had placed much of the globe on the back foot. However, given that the market is primarily concerned with whether Wall Street will get free or inexpensive financing from the Federal Reserve, it has done rather well in its capacity to ignore a lot of negative news.


It will depend on what the bond market prices. At the moment, a recession is driving down interest rates, so the bond markets are beginning to factor this in. It's possible that even stock traders will buy into their own nonsense about the Federal Reserve easing policy much sooner than they're letting on. The United States' annual rate of inflation is still 8.5% at this moment, thus the Federal Reserve cannot assist Wall Street. (Or at least not yet.)


Having said that, the narrative that Uncle Jerome is coming to save everyone is what the market is concentrating on. He and the rest of the institution have a long history of saving the stock market since they were day traders themselves until they were discovered little over a year ago. The Federal Reserve's reputation will be greatly impacted by whether or not they rescue the market, so this conflict is still quite intriguing.


Simply expressed, I believe this market will rise well over the 4300 level. This is the final significant line of defense I see on the chart, so we need to see a daily close above there. The retreat will occur if we are unable to overcome that barrier.

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