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Ukrainian President Zelenskyy: (To the “Coalition of the Willing”) We need more deep strike capabilities.On October 24, Air China Ocean Shipping (Group) Co., Ltd. announced that its operating revenue for the first three quarters of 2025 was 693 million yuan, a year-on-year increase of 1.83%. Its net profit was 205,100 yuan, a year-on-year decrease of 99.75%. Its basic earnings per share was 0.0004 yuan per share, a year-on-year decrease of 99.75%.Micron Technology (MU.O) continued its upward trend, last up 4.9%.On October 24, François Villeroy de Villeroy, a member of the European Central Banks governing council and the president of the Bank of France, warned that excessive relaxation of financial regulatory standards could trigger market turmoil similar to the 2008 financial crisis. While the United States intends to stimulate economic growth by relaxing bank regulations, Europe has adopted a more cautious stance - committed to simplifying rather than cutting existing rules. Villeroy de Villeroy stressed that Europe must not blindly follow the United Statess pace. "We still need financial regulation, and this is the core difference between us and our American colleagues," he said at the Global Dialogue Conference in Berlin on Friday. "We both support the simplification of some financial rules, but we will never advocate deregulation. This would be a dangerous game that could very well sow the seeds for the next financial crisis."U.S. auto safety regulators said they have inquired with Tesla (TSLA.O) about its "Mad Max" version of the Full Self-Driving (FSD) assist mode.

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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