EUR/USD 1.17497
0.493%
Gold 4684.05
2.778%
Oil 92.739
-7.164%
USD/JPY 156.446
-0.917%
GBP/USD 1.35877
0.366%
GBP/JPY 212.579
-0.552%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
An Iranian Foreign Ministry spokesman said that Tehran’s response to the U.S. 14-point proposal regarding Iran has not yet been conveyed to Pakistan.On May 6, advisory firm SOC Investment Group urged the U.S. Securities and Exchange Commission (SEC) to investigate SpaceXs financial situation ahead of its potential IPO, which could value the company at over $2 trillion. The firm stated that SpaceXs relationships with other companies under Elon Musks umbrella are concerning. According to a letter dated May 6 and filed with the SEC, SOC requested the SEC review the accuracy and reliability of SpaceXs financial disclosures and ensure the independence of SpaceXs auditors. SOC also urged the SEC to focus on the accounting treatment of transactions between SpaceX and Musks other companies. The letter stated, "We are particularly concerned that SpaceXs IPO will expose a significant number of investors to a company whose value may decline after its financial disclosures have been independently reviewed and verified."May 6th - According to a foreign media survey, OPECs crude oil production fell to a 36-year low last month as the ongoing war with Iran continues to hamper Persian Gulf exports and force more oil fields to shut down. The survey shows that OPECs crude oil production fell by 420,000 barrels per day in April to 20.55 million barrels per day, the lowest level since 1990, mainly dragged down by further declines in production from Kuwait and Iran. The survey shows that Kuwait saw the largest drop in production last month, with daily output falling by 470,000 barrels to 800,000 barrels per day, less than a third of pre-war levels. The countrys exports have fallen to only 22,000 barrels per day. Iran followed, with production falling by 180,000 barrels per day to 3.05 million barrels per day, more than doubling the cumulative reduction since the start of the war. OPEC also suffered another blow last week. The United Arab Emirates announced its withdrawal from the organization, after years of friction with the organizations leader, Saudi Arabia, over production limits. The April survey still included UAE data because the UAEs withdrawal only officially took effect on May 1st.On May 6th, St. Louis Federal Reserve President Mohamed Mussaleem stated that there is significant uncertainty regarding the outlook for the U.S. economy and monetary policy, but he believes that the risks to inflation are currently rising compared to the risks to employment. Mussaleem said on Wednesday, "Inflation is significantly above our 2% target level. We face risks on both the employment and inflation fronts. As I understand it, the risks are tilting more towards inflation than towards employment." Mussaleem stated that the Feds benchmark policy rate is currently at a neutral level that neither stimulates nor inhibits the economy, or may be slightly accommodative. He said, "There are very reasonable scenarios that would require us to maintain the current policy rate unchanged for some time." However, he also noted that he sees scenarios that might require officials to further cut or raise interest rates.Federal Housing Finance Agency President Pulte: It is expected that Federal Reserve Governor Cook will be prosecuted.

S&P 500 Price Forecast – Stock Markets Give Up Early Gains

Cory Russell

Dec 29, 2022 14:37


Technical Analysis of the S&P 500

Initially attempting to rise during Wednesday's trading session, the S&P 500 eventually gave up gains and lost momentum due to the thin markets' lack of current interest. The 3800 level underneath should be sustained, but if we decline below that, it would be possible to slide considerably lower, maybe as low as the 3700 level.


At this point, rallies ought to be fading, therefore the 3900 level and the 50-Day EMA can serve as a ceiling from which to resume shorting. When signs of fatigue start to surface, they will be pounced on, and I won't think twice about shorting them. Because of this, I believe that the market will continue to be negative, although it's possible that unreliable money managers may attempt to pad their books towards the end of the year. This is a frequent occurrence since they must at least demonstrate to their customers that they possess the "proper stocks."


It appears like Wall Street will sometimes need a reminder that the Federal Reserve is dead serious, which is an issue that the Federal Reserve itself caused by coddling traders for 14 years, so I believe it's just a matter of time until we continue to go lower. In light of this, I am prepared to short this market gradually during rallies and when it begins to show symptoms of tiredness. However, at this time of year, I am not expecting for large swings, so you must see this through the lens of short-term trading.

Suggestion