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July 11 - According to data from Lighthouse Pro, as of 8:34 PM on July 11, the daily box office revenue of the domestic film market exceeded 300 million yuan, marking the first time since February 26 this year that the daily box office revenue has exceeded 300 million yuan.July 11th - According to the official WeChat account of Hangzhou Metro, due to the impact of Typhoon Bavi (No. 9), Hangzhou City has activated a Level I typhoon emergency response. Starting at 6:00 AM on July 12th, the entire metro network will be suspended, with the resumption time to be announced separately.On July 11, Claudio Descalzi, CEO of Eni, the Italian state-owned holding group, stated that if the Middle East conflict continues, the global oil market will break through the current range of approximately $80 to $100 per barrel by the first quarter of 2027 at the latest, pushing up inflation and reducing energy demand. In an interview published Saturday in Il Sole 24 Ore, Descalzi said that the release of strategic reserves has so far helped keep crude oil prices roughly within this range, but this strategy is facing increasing risks because global reserves are finite. “The long-term solution is to enhance energy security through the diversification of supply sources and routes,” he said. Descalzi noted that global oil inventories have fallen by an average of 3.8 million barrels per day due to disruptions related to the war with Iran that began at the end of February, accelerating to an average of 4.6 million barrels per day in May. He stated that countries should focus on producers in North Africa and sub-Saharan Africa, Latin America, and Southeast Asia, while reducing reliance on controlled maritime routes.July 11th - Industry insiders stated that historically, during periods of high demand in the memory chip industry, manufacturers tend to simultaneously expand production capacity, leading to a concentrated release of new capacity, a price crash, and industry-wide losses. Subsequently, manufacturers collectively reduce capital expenditures, and when demand recovers, another boom occurs – this cycle constitutes the industrys unique cyclical pattern. Since reaching its peak in late June, US memory chip stocks have experienced a collective correction due to concerns about overcapacity, triggered by news such as Metas sale of computing power. Data shows that industry leaders such as SanDisk, Micron Technology, Seagate Technology, and Western Digital have all seen their stock prices fall by more than 20% in the past few weeks. Analysts point out that the underlying logic supporting current demand for memory chips is facing a reassessment, with the core variable being whether the technological gap between various AI large-scale models will continue to narrow. Analysts also pointed out that the memory chip industry is undergoing a profound change in its business model: in the past, memory was more like a commodity, with prices fluctuating with the market, and contracts were mostly on a quarterly or annual basis; now, cloud vendors and AI data centers are increasingly signing long-term supply agreements with original equipment manufacturers for three to five years, with price ranges, minimum purchase quantities, and customer deposits, in order to ensure critical supply.July 11 - Due to the impact of Typhoon Bavi, the ninth typhoon of this year, the Hangzhou Bay Bridge will be closed in both directions starting at 19:30 today, prohibiting all vehicles from passing through.

S&P 500 Price Forecast – S&P 500 Awaits Jerome Powell

Jimmy Khan

Sep 22, 2022 14:54


Techniques for the S&P 500

As the Federal Reserve announcement later in the afternoon approaches, the S&P 500 E-mini contract is marginally higher. A 75 basis point rate increase is anticipated in the end, but there are other factors at work as well. We must, after all, wait and see what the Federal Reserve will predict on its outlook.


People will need to pay great attention to it since the market will be impacted by its economic outlook. You should be aware that these days tend to create a lot of strange signals because I think it's probable that we will witness more noise than anything else at this time.


It is more probable than not that we will drop below the 3800 level if we break below the lows of the most recent few sessions. We are going to retest the lows if we can go below that level. Unless, of course, Jerome Powell specifically declares that the Federal Reserve is going to modify its general attitude, I would view any rally at this point with extreme skepticism. With inflation still raging and as he has previously said, pain would be felt, I simply don't see how that can happen.


It's possible that some analysts will start buying since he didn't hike 100 basis points, but before it's all said and done, it should merely provide a great selling opportunity. It's difficult to say because, quite simply, it seems like optimism is a virtue and that a large portion of Wall Street still has confidence that Jerome Powell will prevent more losses. Unfortunately, inflation is destroying the US economy on Main Street, and nobody seems to be paying attention to this.

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