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July 27 - German sports car manufacturer Porsche announced on the 27th that it will cut another 5,000 jobs in Germany by 2035. This is the companys latest large-scale layoff plan, aimed at reducing labor costs and improving competitiveness. 1. Agricultural consultancy AgRural reported on Monday that as of last Thursday, the second-season corn harvest in Brazils south-central region for 2026 was 60% complete, up from 49% the previous week but down from 68% at the same time last year. AgRural stated that while the overall harvest progress was acceptable last week, some producing areas lost momentum due to returning rains, particularly in Paraná, Mato Grosso do Sul, and southern São Paulo, where rainfall hampered field operations. 2. The Saudi Ministry of Defense stated that it intercepted and destroyed drones launched from Iraqi territory. These drones, belonging to Iranian-backed militias, targeted oil facilities in the eastern region and Riyadh. The Ministry reiterated Saudi Arabias right to respond. 3. A statement indicated that the Houthi rebels in Yemen claimed to have used drones to target Saudi oil transportation infrastructure. 4. According to Futures Daily, on July 27th, a document from EVE Energy titled "Price Adjustment Letter Regarding the Transmission of Consumption Tax Costs" circulated within the lithium battery industry. The price adjustment letter indicates that, according to Announcement No. 20 of 2026 issued by the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration, the national consumption tax on lithium primary batteries and lithium-ion batteries will be gradually reinstated starting September 1, 2026. This policy represents a legally mandated rigid cost change, and the company and its subsidiaries will transmit the consumption tax costs in accordance with the rules. According to reports, EVE Energys price adjustment letter is the first formal notification from a leading domestic battery company to its customers regarding cost transmission after the implementation of the new battery consumption tax policy. 5. Data released by the U.S. Department of Agriculture (USDA) shows that private exporters reported selling 132,000 tons of soybeans to China and 126,000 tons to unknown destinations for delivery in the 2026/2027 marketing year. 6. Goldman Sachs: If a new agreement is reached between the U.S. and Iran in the coming days or weeks, we expect the risk premium for TTF to decrease significantly, potentially falling below €50/MWh. If Middle Eastern energy exports only gradually return to normal by 2027, TTF natural gas prices are expected to rise to over €100/MWh by December 2026. 7. Citigroup traders are betting the Federal Reserve will keep interest rates unchanged this week. According to Akshay Singal, the banks global head of short-term interest rate trading, their positions will profit if the Fed keeps rates stable. Singal stated, "We still maintain our expectation that interest rates will remain unchanged." He added that Fed Chairman Warsh has clearly stated that he wants the market to focus on data, and the data indicates that the Fed does not currently need to raise rates. 8. According to foreign media reports, the South African Sugar Industry Association (SA Canegrowers) has urgently appealed to Trade, Industry and Competition Minister ParksTau to intervene and ultimately complete an update to the sugar import tariff mechanism to reflect the current situation in the domestic sugar market.Amsterdam-listed ASML and BESI resumed trading, with declines ranging from 7.4% to 8%.The Dallas Fed Manufacturing Employment Index for July was 12.2, down from 13.9 in July.The Dallas Feds new orders index for July was 6.4, down from 2.3 in the previous month.

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.

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