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Hong Kong-listed AI application stocks rose, with DeepTech (01384.HK) up over 21%, MyFT (02556.HK) up over 13%, Pony.ai-W (02026.HK) up over 10%, and Kingdee International (00268.HK) and Baidu (09888.HK) up 6.8%.On April 16th, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that the first quarter often serves as a bellwether for the years economic growth. The economy achieved a good start in the first quarter, demonstrating the characteristics of my countrys stable economic foundation, numerous advantages, strong resilience, and great potential. However, it should also be noted that the international environment may become more complex and volatile in the next stage, with increased uncertainties and unpredictable factors, and the domestic economy will also face some difficulties and challenges. Nevertheless, overall, opportunities outweigh challenges, and solutions outweigh difficulties. We have strong institutional advantages, and over the years we have accumulated long-term industrial, market, and talent advantages, making us fully capable of achieving stable economic operation and high-quality development throughout the year.On April 16, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that oil accounts for less than 20% of my countrys total energy consumption, while coal plays a stronger role in providing a safety net, accounting for more than 50%. In recent years, new energy sources such as wind and solar power have developed rapidly, and the proportion of non-fossil energy consumption has risen to about 20%. Overall, fluctuations in the international crude oil market have a relatively small impact on us.On April 16th, the FIFA president stated on Wednesday that "Iran will definitely come" to this summers World Cup in the United States. He said, "We certainly hope that the situation will be peaceful by then. As I said, that will certainly help. But Iran must be involved." Peace talks between Iran and the United States have not yet resumed, and the ceasefire agreement expires next week. Trump has stated that Irans participation in this summers World Cup is "inappropriate," as it could jeopardize the "lives" of the players. It remains unclear whether Iran will withdraw from the tournament.On April 16th, Mao Shengyong, Deputy Director of the National Bureau of Statistics, stated at a press conference held by the State Council Information Office that my countrys total fixed asset investment has exceeded 49 trillion yuan by 2025. Therefore, while the public is concerned about the scale and speed of fixed asset investment, they should also pay attention to its structure, efficiency, quality, and sustainability. my country needs to make more effective investments to promote the improvement of peoples livelihoods, the growth of new productive forces, and high-quality economic and social development.

E-mini S&P Pressured by Inflation, Economic Growth Worries

Cameron Murphy

Apr 27, 2022 10:35

Investors are waiting to see if earnings from Big Tech companies this week would offer the support needed to stop the current sell-off. June E-mini S&P 500 Index futures are trading lower shortly after the cash market opened on Tuesday. Concerns about high inflation and weakening global economy are driving the price activity.


June E-mini S&P 500 Index futures are trading at 4231.25, down 61.50 or 1.43 percent, at 14:17 GMT. The S&P 500 Trust ETF (SPY) is down $6.31, or 1.47 percent, to $422.20.


According to Refinitiv statistics, 77.5 percent of the 102 businesses in the S&P 500 that reported earnings through Monday exceeded analysts' profit projections. In a typical quarter, 66 percent of results exceeded expectations.

Earnings Reports

United Parcel Service Inc increased 1.9 percent after reporting an increase in quarterly adjusted earnings, while 3M Co rose 0.9 percent after exceeding profit expectations.


General Electric Co slumped 3.5 percent after expecting full-year earnings at the low end of its previous estimate, as the industrial behemoth struggles with supply chain interruptions and rising freight and raw materials costs.


Core Durable Goods Orders in the United States increased 1.1 percent, exceeding expectations and the previous reading. The Consumer Confidence survey from the Conference Board came in at 107.3, lower than the prediction of 108.5, but the preceding report was revised upward. Finally, new home sales came in at 763,000, which was lower than expected. The preceding month's figures were revised upwards.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The return of the decline will be signaled by a trade through 4195.25. The major trend will turn to up if the price breaks through 4509.00.


4094.25 to 4631.00 is the short-term range. Resistance is found in the retracement zone of 4299.25 to 4362.75. Earlier in the session, the bottom or Fibonacci level of this range stopped the purchasing.

Technical Forecast for the Daily Swing Chart

Trader reaction to 4292.75 will influence the direction of the June E-mini S&P 500 Index into Tuesday's closing.

Reaction: Bearish

The presence of sellers will be shown by a persistent rise below 4292.75. If the minor bottom at 4195.25 is broken, it will imply that the selling pressure is increasing. This might cause a sell-off to begin, with the first negative target of 4129.50, followed by 4094.25.

Positive Reaction

The presence of buyers will be signaled by a prolonged advance over 4292.75. Overtaking the Fibonacci level at 4299.25 will signal a strengthening of the buying. This could prompt a move higher, with the primary 50 percent milestone at 4362.75 as the next big objective.

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