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A spokesperson for the Ministry of Commerce stated: We have noted the ruling of the U.S. Supreme Court in the tariff lawsuit and are conducting a comprehensive assessment of its content and impact. China has consistently opposed all forms of unilateral tariff increases and has repeatedly emphasized that there are no winners in a trade war, and protectionism leads nowhere. The U.S.s unilateral measures, such as reciprocal tariffs and fentanyl tariffs, violate both international trade rules and U.S. domestic law, and are not in the interests of any party. Facts have repeatedly proven that cooperation between China and the U.S. benefits both sides, while confrontation harms both. China urges the U.S. to cancel its unilateral tariffs on its trading partners. We have also noted that the U.S. is preparing alternative measures, such as trade investigations, in an attempt to maintain tariffs on its trading partners. China will closely monitor this and firmly safeguard its interests.Nasdaq futures extended their losses to 1%, S&P 500 futures are currently down 0.75%, and Dow futures are down 0.6%.Goldman Sachs: Potential easing of sanctions on Iran/Russia will accelerate the increase in crude oil inventories and release more supply in the long term, with crude oil prices expected to have a downside of 5% to 8% in the fourth quarter of 2026.Data released by South Korean automotive data research firm Carisyou shows that new car purchases by South Koreans in their 20s and 30s will fall to their lowest level in ten years by 2025. The data shows that in 2025, 61,962 new cars will be registered by people in their 20s in South Korea, accounting for 5.6% of all new car registrations that year. This percentage has declined year after year since 2016, when it reached 8.8%, hitting a ten-year low in 2025. Last year, 209,749 new cars were registered by people in their 30s, accounting for 19% of the total. This proportion has decreased by 6.9 percentage points over the past decade, also reaching a ten-year low.Hong Kong-listed stocks related to new consumption concepts rallied, with NIO-SW (09866.HK) rising nearly 3%, XPeng Motors (XPEV.N) and Xiaomi Group (01810.HK) rising over 2%, and Pop Mart (09992.HK) rising 1.8%.

Stock Markets Continue to Defy Gravity

Cory Russell

Aug 17, 2022 14:48

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Technical Analysis of the S&P 500

As we keep a careful eye on the 4300 level, the S&P 500 has fluctuated throughout Tuesday's generally tight trade. It seems likely that this offer would continue to give traders some trouble since the 4300 level has historically been a strong region of resistance. The market is expected to rise significantly if we can close above there on a daily candlestick. Despite this, there are several reasons to be worried, not the least of which being the fact that earnings season is already underway and has the potential to make a lot of noise.


Wall Street continues to hold the view that the Federal Reserve is not serious about tightening even if it is shouting from the sidelines about it. It will be fascinating to see how the volatility develops as long as that condition persists since a tighter Federal Reserve normally works against the value of equities. We could see a huge meltdown if Wall Street starts to trust them all of a sudden. However, if the Federal Reserve were to give in, it may push stocks a little higher. In complete candor, I also stated that last week. At this point, I believe Wall Street has gotten a little ahead of itself.


If we can break down below the 200 Day EMA, which should act as support, then it's probable that we will descend to the 50 Day EMA. On the other hand, the 4450 level may be in view if we do break out to the upside.

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