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The Dow Jones Industrial Average closed down 4.87 points, or 0.01%, at 49,442.56 on Monday, April 20; the S&P 500 closed down 16.92 points, or 0.24%, at 7,109.14; and the Nasdaq Composite closed down 64.09 points, or 0.26%, at 24,404.39 on Monday, April 20.On April 21st, U.S. stocks closed lower. The Dow Jones Industrial Average fell 0.01%, the S&P 500 fell 0.24%, and the Nasdaq Composite fell 0.26%, with the latter two failing to achieve a 14-day winning streak. Intel (INTC.O) fell 4%, Arm (ARM.O) rose 5%, and Tesla (TSLA.O) fell 2%. The Nasdaq China Golden Dragon Index closed down 0.3%, while Baidu (BIDU.O) rose over 1%.On April 21, according to a statement released on the French Ministry of the Interior website on April 20, the French National Security Documents Agency (NSSA), responsible for processing vehicle registrations, drivers licenses, ID cards, and passports, detected a security incident on April 15 involving a data breach affecting users of its portal website. The French Ministry of the Interior stated that the leaked data involving users personal accounts included personally identifiable information such as names, email addresses, and dates of birth; in some cases, it may have also included mailing addresses, places of birth, and phone numbers. However, this data breach did not include supplementary documents submitted by users during the application process, nor did it lead to unauthorized access to the portal website accounts.On April 21, Iranian Foreign Minister Araqchi spoke with Pakistani Deputy Prime Minister and Foreign Minister Dar on April 20 to discuss regional developments and issues related to the ceasefire. Araqchi stated that the provocative actions and continued violations of the ceasefire agreement by the United States, particularly its threats and aggression against Iranian merchant ships, as well as its contradictory stance and threatening rhetoric towards Iran, are fundamental obstacles to the continuation of the diplomatic process. He indicated that Iran will comprehensively consider all factors before deciding how to proceed with the diplomatic process.Mexican Foreign Minister Ebrard: The meeting with U.S. Trade Representative Greer was productive.

US open: Futures fall ahead of Fed minutes

Cory Russell

Apr 08, 2022 11:46

Futures in the United States

Futures for the Dow Jones Industrial Average are down 0.75 percent at 34390.


Futures on the S&P 500 are down 1% at 4480.


Nasdaq futures are now trading at 14582, down 1.64 percent.


In Europe, the FTSE is down -43% at 7560.


At 14100, the Dax is down 2%.


At 3828, the Euro Stoxx is down 2.34 percent.


Find out more about indices trading.


Stocks have taken a knock due to Fed concerns.


Ahead of the FOMC minutes, US markets are expected to begin lower, extending losses from the previous session.


Following increased predictions of a more hawkish Federal Reserve, Wall Street finished lower yesterday and is still under pressure today. In order to reign in soaring inflation, Fed Governor Brainard hinted at higher interest rate rises and a quicker runoff on the balance sheet.


The market is putting in a 76.6 percent chance of a 50 basis point rate rise in May, according to the CME Fed Funds. Rates are expected to be raised by 225 basis points before the end of the year, according to the market.


Yesterday, high-growth tech trailed behind its big counterparts, with the NASDAQ100 losing roughly 2.2 percent. Today, the NASDAQ is expected to underperform once again.


The focus now shifts to the publication of the minutes from the March Federal Open Market Committee meeting. This was the first time the Fed increased interest rates since 2018, and it might provide further insight into the future path of interest rate rises and the pace at which the balance sheet would be decreased.


Separately, reports about Russia continue to dominate the news cycle, pushing up oil prices. New sanctions have been imposed on Russia in response to the war crimes perpetrated by Russian military in Ukraine.


In business news, JetBlue Airways revealed that it has made an unsolicited $3.6 billion proposal to Spirit Airlines in order to provide the four main US airlines more competition.

Where does the S&P500 go from here?

After recovering from its March 15 low of 4140, the S&P500 hit resistance around 4630 and has been moving downward since. The price has fallen below the 100 SMA, and the MACD has crossed to the negative side, giving sellers optimism for further downside.


Support is indicated at 4425, the 50 SMA, and the high of March 3. A break below this level might go to 4345, the high from March 11 and the low from March 17. Any rebound, on the other hand, would have to surge above the 100 SMA at 4535 in order to reach 4630, the March high.


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