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According to Axios: A senior U.S. official said Iran has submitted an updated ceasefire proposal, but the White House believes the proposal lacks substantial improvements and is insufficient to reach an agreement.On May 18th, according to CNBC, EU Economic Affairs Commissioner Dombrovskis stated that the spring economic forecasts, to be released later this week, will show downward revisions to economic growth figures, while inflation figures will rise, due to the "stagflation shock" from the war with Iran. Dombrovskis stated, "We are experiencing a stagflation shock." He added that policymakers now have "more limited" room for action, with little room for large-scale fiscal responses like those during the pandemic. He stated, "We believe that the support measures we take should be temporary and targeted, rather than those that will actually drive sustained growth in demand for fossil fuels." Meanwhile, Dombrovskis described the EUs release of strategic petroleum reserves as "ongoing," adding concerns about supply shortages in areas such as innovative fuels. He stated, "The longer the conflict lasts, the greater the risk of certain supply bottlenecks, which further confirms our view that policy responses should not increase demand for fossil fuels."Turkish Foreign Minister: There is no reason why Iran and the United States cannot reach an agreement on a neutral position through negotiations.According to CNBC, the European Union will lower its economic growth forecast and raise its inflation forecast.Turkish Foreign Minister: The priority is to maintain the ceasefire in the war with Iran. We hope to believe that the United States and Iran realize the danger of resuming the war.

S&P 500 Price Forecast – Stock Markets Continue to Consolidate

Alice Wang

Jan 05, 2023 14:54


Technical Analysis of the S&P 500

The S&P 500 had some bumpy trading on Wednesday as there were still many uncertainties surrounding the state of the world economy. The minutes from the FOMC meeting will be released later today, and Friday will see the release of the employment report. Having said that, I believe it's only a matter of time until we have to make a greater choice, so by the end of the week, I believe we will have much more clarity on our course of action.


Despite Wall Street's seeming lack of concern most of the time, the economy does not sustain a robust stock market. They will be more surprised to learn that the Federal Reserve is likely to maintain its strict monetary policy, which will keep the S&P 500 under pressure as Wall Street looks for cheap money since many of the bigger companies are leveraged to very aggressive levels.


They're going to have big problems as long as that continues to be the case. Additionally, this year is going to see a number of credit occurrences, which is poison to stocks. In the meantime, though, we could see rallies, but I believe the 50-Day EMA above around the 3900 level may provide substantial resistance. A move above there makes it possible to seek the 4000 level, but I believe that at that point, opposition becomes much more aggressive. 

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