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Pacific Securities: Net profit attributable to shareholders of the listed company in the first quarter of 2026 was RMB 24.3814 million, a year-on-year decrease of 64.11%.On April 29th, Priyanka Sachdeva of Phillip Nova stated in a report that the underlying demand for gold as a hedge against uncertainty remains robust. This means that even if gains are limited, macroeconomic uncertainty will still provide structural support for gold prices. She pointed out that the strengthening dollar and expectations of interest rate cuts have limited the upward momentum of gold, factors that have weakened the appeal of non-yielding assets like gold.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.On April 29, it was announced that China will fully implement zero-tariff measures on 53 African countries with which it has diplomatic relations, effective May 1, 2026. Foreign Ministry Spokesperson Lin Jian stated at a regular press conference on the 29th that China has noted the strong anticipation and positive feedback from African countries regarding the zero-tariff measures. Given the current rise of global protectionism and unilateralism, and the spillover effects of the Middle East situation reaching neighboring continents, Chinas zero-tariff approach to sharing opportunities and promoting common development with Africa demonstrates the determination of both China and Africa to contribute to global peace and development through stability. Lin Jian added that China will also continue to negotiate and sign agreements on economic partnerships for common development with relevant African countries, simultaneously upgrade the green channel for African agricultural and food products exported to China, and continuously improve the level of trade facilitation between China and Africa.Futures News, April 29th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes: 1. Pulp futures warehouse receipts: 189,412 tons, an increase of 974 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 15,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 957 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 5,160 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 133,350 tons, unchanged compared to the previous trading day. 6. Petroleum asphalt futures warehouse receipts totaled 28,610 tons, a decrease of 2,900 tons from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts totaled 31,890 tons, a decrease of 4,540 tons from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts totaled 3,511,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts totaled 31,570 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts totaled 0 tons, unchanged from the previous trading day.

The US Stock Market Continues to Pull Back

Skylar Shaw

Apr 02, 2022 11:25

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S&P 500 Technical Analysis

On Friday, the S&P 500 sought to climb in the futures markets but gave back gains, indicating weakness. As a result, the market currently threatens the 4500 level in the futures market, which has previously been a key sector. As a result, it'll be fascinating to watch whether we can pull back much farther, possibly to the 50 Day EMA.


The candlestick's magnitude isn't particularly impressive, but it appears like the 4500 goal I suggested before will be tested. If we break it down further, the 50 Day EMA, which is at the 4400 level, makes a lot of sense, followed by the 200 Day EMA, which is also at that level. 


The market is still highly loud, and I believe it will continue to be so in the future. After all, there are a slew of confusing signals at the present, not least in the bond market, where many traders anticipate we'll see as many as eight interest rate hikes, while others say it's impossible.


Find a reason to go higher, but this is due to the fact that it is unconcerned about the underlying economy. Keep in mind that stock markets are about liquidity more than anything economic. If it were the case, the latest straight-up-in-the-air photo would not have taken place. 


That said, savage rallies are common in bear markets, so, while hope springs eternal, I'll be betting on the downside through options rather than directly in the market.


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