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On December 21, the United States intercepted another oil tanker off the coast of Venezuela, which the Venezuelan government called an act of piracy. Jeremy Paner, a partner at the Washington-based law firm Hughes Hubbard and a former investigator with the Office of Foreign Assets Control (OFAC), said the ship was not subject to U.S. sanctions. “The seizure of a vessel not sanctioned by the United States marks a further increase in pressure on Venezuela by Trump,” Paner said. “This also contradicts Trump’s statements that the U.S. will blockade all sanctioned oil tankers.”On December 21, Venezuelan Vice President and Oil Minister Rodríguez condemned the United States for "theft and hijacking" of private vessels carrying Venezuelan oil in international waters on December 20. In a government statement released via social media, Rodríguez stated that this serious act of "piracy" violated international law. He asserted that the colonial model the US government attempted to impose on Venezuela would ultimately fail, and that the Venezuelan government would appeal to the UN Security Council and other multilateral organizations for appropriate action.On December 21, the World Trade Organization (WTO) released its "World Trade Report 2025" on December 20, local time. The report indicates that, with supporting policies in place, artificial intelligence (AI) is expected to increase cross-border trade in goods and services by 34% to 37% and global GDP growth by 12% to 13% by 2040 by improving productivity and reducing trade costs. The report emphasizes the need to bridge the digital infrastructure gap, strengthen skills training, and maintain an open and predictable trading environment to ensure more inclusive growth.According to Business Insider, Apple has advised some employees with visas not to travel outside the United States due to embassy delays.Russian Presidential Special Representative Dmitriev: Russia and the United States are having "constructive" discussions, which will continue in Miami on Sunday.

S&P 500 Price Forecast – Thin Labor Day Trading

Skylar Shaw

Sep 06, 2022 16:15

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Technical Analysis of the S&P 500

Limited electronic trading on Monday saw the S&P 500 fluctuate within a fairly narrow range, which is not a great surprise given that Labor Day is now taking place in the United States. Nevertheless, the 3900 level is providing support for the market, which is a positive development. If we were to go below that point, we may be able to go further below. The likelihood is that we will then try to descend to the 3800 level. Following that, the low at the level of 3637 would be our next target.


Currently, rallies should encounter significant resistance, particularly at the 4061 level, where it seems that the 50-Day EMA is attempting to cross lower. In the end, the Federal Reserve has maintained a strict monetary policy, and a recession is unavoidably on the horizon.


Having said that, there isn't really a good reason to think that the S&P 500 will continue to rise for a while. Yes, there is a chance for a little rebound, but it's more likely to be a buying opportunity. The macroeconomic environment does not call for that kind of trading, therefore I don't really have a circumstance where I want to be a buyer. The markets will remain quite boisterous, and Tuesday's opening could be a little chaotic.


More often than not, sellers will continue to rush into this market at the first symptoms of tiredness since the market will almost certainly continue to see a lot of loud and disruptive conduct.

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