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February 14th - According to CNBC, U.S. Energy Secretary Wright stated that Venezuelan oil revenues will no longer be deposited into an account in Qatar. Wright said, "The account previously established in Qatar was always controlled by the U.S. government. Funds were first deposited into that account and then transferred back to Venezuela. Now, we have an account with the U.S. Treasury Department. This money will no longer flow to Qatar." Wright also stated that Venezuelan oil sales revenue has now exceeded $1 billion. He said the U.S. has reached a short-term agreement with the country to sell another $5 billion worth of Venezuelan crude oil over the next few months. He added that so far, this oil has been shipped to U.S. refineries and Europe.February 14th - Beijing recently released the first batch of urban renewal project list for 2026, which includes 1,321 projects, of which 745 are newly implemented projects and 576 are projects carried over from 2025. The planned investment for the first batch of projects in 2026 is 104.95 billion yuan.February 14th - It was learned from the Shanghai Municipal Commission of Economy and Information Technology and the conference organizers that the 2026 Global Developers Summit (GDPS 2026) will be held from March 27th to 29th at the Shanghai Xuhui West Bund International Convention and Exhibition Center. The core theme of this years conference is "Industry poses the questions, technology provides the answers," with a core vision aimed at breaking down bottlenecks in industry-academia collaboration and improving the efficiency of applying research results to meet industry needs.February 14th - According to data from Maoyan Professional Edition, the cumulative box office of the movie "Zootopia 2" has exceeded 4.545 billion yuan, entering the top 7 of the all-time Chinese box office chart.February 14th - With the Spring Festival holiday approaching, the demand for returning home to visit relatives and traveling is increasing daily. The 9-day holiday has led many to choose self-driving travel, causing a surge in the pre-holiday car rental market. With the continuous improvement of civil aviation and railway transportation networks, the "comprehensive transportation + on-site car rental" model, with its efficiency and flexibility, is widely favored by families traveling and returning home. Data shows that this years Spring Festival car rental market is characterized by early start, long rental periods, and high growth, with both rental orders and user scale achieving year-on-year growth. In terms of vehicle selection, many consumers prefer intelligent and green new energy vehicles. Data shows that during this years Spring Festival travel rush, the number of new energy vehicle rental bookings increased sixfold year-on-year.

Stock Markets Continue to Get Hammered

Skylar Shaw

Jul 06, 2022 14:55

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Technical Analysis of the S&P 500

During Tuesday's trading session, the S&P 500 attempted to rise a little at first before turning around and falling considerably. The market then began to weaken and broke down below the 3800 level. The 3750 level was then challenged, which has served as support over the last several days. However, I believe it will likely not take long for the price to break down from here and continue to decline. I believe it will only be a matter of time until we test and perhaps even break past the 3700 level since it is a strong area of support.


The 3950 level may act as barrier if we do reverse course and rally, as it did in recent weeks. The 50 Day EMA, the 3993 level, and falling come next. In the end, I believe that this market will continue to see a great deal of negative, therefore I'm watching for signals of tiredness to sell, similar to what we saw in the futures market early on Tuesday.


Both the Federal Reserve's continued tightening of monetary policy and the need for companies across the S&P 500 to write down results will work vehemently against this index. Because of this, I am not interested in investing in this market until a fundamental shift takes place, which I just don't believe will happen soon. Longer-term investors could see this as a chance to "pick up value," but I would exercise caution since there are so many factors now pushing against the stock market.

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