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April 29th - Spanish inflation unexpectedly accelerated further, exceeding the European Central Banks 2% target, supporting market expectations of an interest rate hike this year due to the conflict with Iran. Data released Wednesday showed that Spains CPI rose 3.5% in April, up from 3.4% in March and also exceeding market expectations. This increase was driven by fuel costs. Core inflation, excluding energy and some food items, fell slightly to 2.8%. The data was released as the European Central Bank held a two-day meeting, with analysts and investors expecting it to keep interest rates unchanged. Policymakers are still assessing the extent to which rising prices, such as gasoline, will transmit to other sectors of the economy. Spain is the first major Eurozone economy to release April inflation data, marking the second full month since the Middle East conflict. Germany will release its data later today, and overall Eurozone data will be released on Thursday before the ECBs interest rate decision.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.2 occurred near Kuqa City, Aksu Prefecture, Xinjiang, at 15:20 on April 29. The final result is subject to the official rapid report.Mercedes CFO: According to the Supreme Court ruling, tariff refunds have been included in the first quarter results.April 29th - my countrys marine economy got off to a good start in the first quarter, with high-quality development moving towards new and better directions. Preliminary calculations show that the gross marine product reached 2.6 trillion yuan in the first quarter, a year-on-year increase of 5.4%. The foundation for the development of traditional marine industries has been further strengthened, and transformation and upgrading are progressing steadily. Meng Qinglei, Deputy Director of the Department of Marine Strategy Planning and Economy of the Ministry of Natural Resources, stated that my countrys marine economy flourished in the first quarter, continuing to play its "engine" role, contributing 0.4 percentage points to national economic growth.The German DAX 30 index opened 34.21 points higher, or 0.14%, at 24,074.50 on Wednesday, April 29th; the UK FTSE 100 index opened 1.94 points lower, or 0.02%, at 10,330.85; and the French CAC 40 index opened 12.41 points lower, or 0.15%, at 8,091.68. The Stoxx 50 index opened 6.04 points higher, or 0.10%, at 5840.90 on Wednesday, April 29; the Spanish IBEX 35 index opened 56.81 points lower, or 0.32%, at 17718.09 on Wednesday, April 29; and the Italian FTSE MIB index opened 19.74 points lower, or 0.04%, at 48020.50 on Wednesday, April 29.

S&P 500 Weekly Forecast – Stock Markets Threaten Breakout

Alice Wang

Nov 28, 2022 14:24

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Weekly Technical Analysis for the S&P 500

Throughout the trading week, the S&P 500 E-mini contract has climbed a little to test the 50-Week EMA. 


Although the previous week's candlestick indicates that there is considerable resistance just above, it is highly doubtful that things will get any easier from here on out. 


After all, a lot will depend on the jobs report that will be released on Friday as people try to predict what the Federal Reserve will do next. Wall Street has recently been anticipating a slowdown in interest rate increases, but the truth is that they will continue to remain tight for a considerable amount of time.


When examining the chart, you need also keep in mind that Thursday and Friday would have seen, to put it mildly, very little trade, so you can only infer so much from the candlestick. As we wait for the Federal Reserve statement in December, the course of the next few sessions will almost probably define where we go for the following few weeks.


Although I don't believe the market is about to be given the "all clear," there may be a chance for the mythical "Santa Claus rally" at this time, so you should be extremely cautious about the size of your positions. 


Money managers will then exert every effort to begin acquiring assets that will allow them to appear to have performed better than they actually did at the end of the year. With this, we might obtain that tiny bomb, but I have a feeling the merchants will be back in no time.

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