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The Eurozone Sentix investor confidence index for March will be released in ten minutes.On March 10, Joseph Dahrieh, an analyst at Tickmill, said in a report that crude oil prices are under pressure as concerns about US import tariffs have raised concerns about global economic growth, and OPEC+ plans to increase production have exacerbated this pressure. Dahrieh said that Trumps tariffs on Mexico and Canada and some of the postponed tariffs, coupled with retaliatory tariffs on some countries, have raised concerns about economic slowdown, suppressed fuel demand, and promoted short-term oil views. In addition, events such as Saudi Arabias decision to cut Asian crude oil prices have exacerbated concerns about the economy. He added that OPEC+ plans to increase production from April, adding to supply (oversupply) concerns, which may exacerbate the imbalance between supply and demand.Hong Kong Stock Exchange documents show that HSBC Holdings (00005.HK) repurchased a total of 3.1 million shares on other exchanges on March 7, spending 27.6 million pounds.Hong Kong Stock Exchange documents show that HSBC Holdings (00005.HK) repurchased 3 million shares on March 7 for HK$263.2 million.On March 10, Morgan Stanley analyst Michael Wilson said that the U.S. stock market is likely to fall another 5% due to concerns about the impact of tariffs and reduced fiscal spending on corporate earnings. The strategist said he expects the S&P 500 to hit a low of about 5,500 points in the first half of this year and then rise to 6,500 points by the end of 2025. Before mid-2024, the strategist was one of those who were generally pessimistic about the stock market. Wilson wrote in a report that his year-end target means that the stock market will rise 13% from current levels, but "as the market continues to consider these growth risks, this path may be volatile and may get worse before it gets better." The strategist also warned that if a recession occurs, the index could fall 20%. "We are not at that point yet, but things are changing rapidly, so understanding the downsides of a bear market is useful for managing risks," Wilson said.

Stocks May See a Reversal As a Result of Bleak GDP Data

Cory Russell

Apr 29, 2022 10:22

Fundamental Analysis of the S&P 500 Index

After rebounding from a fresh low of 4,162.90, the broad stock market index recovered 0.21 percent on Wednesday. The S&P 500 index dropped to its local lows of roughly 4,160 in March. 


Despite quarterly corporate profits disclosures, it continued to fall. There is still a lot of uncertainty about the Fed's tightening monetary policy, as well as the Ukraine crisis. 


Following the publication of Facebook's quarterly earnings report yesterday, the S&P 500 index is predicted to start 1.1 percent higher this morning. However, following significantly poorer than anticipated quarterly Advance GDP figures (-1.4 percent vs. estimates of +1.1 percent), the market retraced some of its overnight gains.

Conclusion

Following recent drops, the S&P 500 index varied on Wednesday. The market ended the day higher, although it remained below the 4,200 level. 


The key Advance GDP announcement today came in substantially lower than predicted. We could see a "sell the rumor, buy the news" scenario here. Investors will also be watching for AAPL and AMZN to deliver their quarterly earnings reports today.

The following is a breakdown:


Yesterday, the S&P 500 index stuck below 4,200; it may seem contradictory, but today's worse-than-expected Advance GDP announcement may cause an upward reversal.

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