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Starlink: Starlink Mobile is providing free internet access to Movistar customers in the La Guaira region of Venezuela. Efforts are underway to provide free service to Digitel and Movilnet users as soon as possible.On June 28, local time, the Israel Defense Forces (IDF) issued a statement saying that IDF Chief of Staff Zamir, during a visit to the IDF Northern Command, formally approved plans to continue military operations in the "safe zone" of southern Lebanon, in accordance with the ceasefire agreement. Zamir stated that the IDFs 36th Division and assault brigade are currently maintaining operational control over the Beaufort Heights area and are equipped with all the tools and capabilities needed to weaken the enemy. Zamir stated that the Northern Commands area of responsibility is now the IDFs "main operational focus." The IDF is fully prepared to "rapidly resume offensive operations in Lebanon and Iran" should the need arise. Zamir stated that the agreement signed with the Lebanese government is historic and of great significance. He reiterated that the IDF will abide by the agreement but emphasized that "the test now lies in the actions of both sides, and the coming period will shape the future."US House Speaker Johnson: The housing bill will be submitted to President Trump on Monday.June 28 – The U.S. Ambassador to the United Nations stated that our actions will continue as needed to destroy Iranian infrastructure used to control the Strait of Hormuz. If Iran believes Trump will stand idly by while he attacks shipping and our bases, it is mistaken. Iran must either choose to be a responsible nation or continue down a path of destruction.On June 28, local time, Russian President Vladimir Putin stated at the United Russia party congress that Russia is currently at a critical juncture. The West cannot defeat Russia on the battlefield and therefore attempts to destabilize Russias domestic situation will ultimately fail. Russia will firmly defend its fundamental interests. Putin stated that Russia has adjusted some development goals according to the actual situation, but all strategic plans will be fully realized. The security of the country and its citizens, as well as the inviolability of Russias borders, will be guaranteed. Putin stated that the State Duma (lower house of parliament) elections will be held strictly in accordance with the law within the established timeframe. He will instruct relevant departments to take measures to ensure the safe conduct of the elections and prevent attempts at external manipulation.

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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