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On October 28, Hungarian Prime Minister Viktor Orbán stated on October 27 local time that although the meeting between the Russian and US presidents, originally scheduled for Budapest, had been postponed, it would definitely take place there. Negotiations were still ongoing. Orbán also stated that if peace could be achieved in the Russia-Ukraine conflict, energy prices would fall. He stated that Hungary would have to fight to continue importing Russian oil and gas.Industry sources: Airbus will delay production of some A220 aircraft in 2025 and 2026. Airbus aims to achieve its 2026 production target of 14 A220 aircraft per month by December 2026. The company plans to deliver 100 A220 jetliners in 2025.A US judge has reportedly dismissed a class-action lawsuit against Apple over its antitrust market control over iPhone apps.The Dow Jones Industrial Average closed up 337.47 points, or 0.71%, at 47,544.59 on Monday, October 27; the S&P 500 closed up 83.47 points, or 1.23%, at 6,875.16 on Monday, October 27; and the Nasdaq Composite closed up 432.59 points, or 1.86%, at 23,637.46 on Monday, October 27.German Geoscience Research Center GFZ: A 6.1 magnitude earthquake occurred in Türkiye.

S&P 500 Price Forecast – Stock Markets Pulled Back After Strong Jobs Demand

Florala Chen

Nov 02, 2022 16:51

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Technical Analysis of the S&P 500

The S&P 500 E-mini contract initially rose during Tuesday's trading session to display symptoms of FOMO once again. Having said that, the market later handed up the gains when the number of job openings in the United States turned out to be 1 million more than expected. This demonstrates how difficult it will be to begin loosening monetary policy, and Wall Street had a little wake-up call during the day. It seems that we are prepared to go lower at this time, maybe endangering the 50-Day EMA. Additionally, we must bear in mind that Wednesday's Federal Reserve pronouncement will have a significant impact on what occurs next.


We are likely to drop much farther if we break down below the 3800 level. On the other side, if we turn around and break above the day's high for Tuesday, then makes a goal of 4,000 possible. Remember that Wall Street had been expecting the Federal Reserve to potentially tone down its hawkish tone, so if they do sound as aggressive as I anticipate, it's probable that we will have a little decline.


Even if there has been a great rebound over the last several weeks, we are still most definitely in a downturn. Although there has been speculation over the last two weeks that the Federal Reserve would let the Canadians and Australians tell them what to do, the economic situation does not seem to be good, and, to be very blunt, nothing has changed.

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