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On January 5th, Xusheng Group announced that it recently received a designation notice from a North American new energy vehicle manufacturer, under which the company will supply powertrain, body parts, subframes, battery boxes, and other components. According to the customers plan, the projects lifecycle is approximately 8 years, with total sales estimated at approximately RMB 7.8 billion. Mass production is expected to begin at the end of 2026. This project, with mass production expected to commence at the end of 2026, will not have a significant impact on the companys operating results for this year. The above matters will not affect the independence of the companys business, and the companys main business will not become dependent on the other party due to the performance of subsequent contracts.On January 5th, Yonhap News Agency reported that South Korean President Lee Jae-myung stated at a business forum in Beijing that South Korea and China need to deepen cooperation in areas such as artificial intelligence (AI) and culture. He also used the metaphor of "sailing together on the same sea" to illustrate the deep economic and trade ties between South Korea and China. Lee Jae-myung stated that South Korea and China are like ships sailing in the same direction on the same sea, having weathered storms together, achieving mutual success through deep integration of industrial and supply chains, and jointly injecting momentum into global economic growth. Faced with the current new situation of changing global economic and trade landscape, accelerated technological transformation, and increased difficulty in restructuring industrial and supply chains, failing to proactively adjust direction and relying solely on past inertia may lead to missed key development opportunities.According to Hong Kong Stock Exchange documents, Topshow Digital Technology (Group) Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.As of 3:00 PM Beijing time, spot platinum rose 3.16% to $2,216 per ounce, and spot palladium rose 2.39% to $1,671 per ounce.UBS forecasts Brent crude oil prices at $62 per barrel by the end of Q1, $65 per barrel by mid-year, and $67 per barrel by the end of 2026.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

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