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On December 17th, Kunal Shah, Head of Research at Nirmal Bang Commodities, stated, "The silver market is experiencing a severe short squeeze... We havent seen the supply side respond appropriately after the US added silver to its list of critical minerals. Every country planning to enter the data center—artificial intelligence—needs more silver. The current trend could push silver towards $70 in the short term."Japanese Prime Minister Sanae Takaichi: We will boost tax revenue through economic reflation, increasing corporate profits, and raising household income through wage growth, thereby achieving a sustainable fiscal policy and social welfare system.Japanese Prime Minister Sanae Takaichi: What Japan needs right now is to strengthen itself through proactive fiscal policies, rather than excessively tightening fiscal policy.December 17th, Futures News: Economies.com analysts latest view: Spot gold prices have resumed their upward trend in recent intraday trading, thanks to a firm hold above the key support level of $4300, which has laid a solid foundation for this rebound. Meanwhile, the Relative Strength Index (RSI) is releasing positive signals, further strengthening the markets positive momentum. This rise occurred while prices were trading above the 50-day EMA, indicating that although some dynamic pressure remains, this moving average is providing support and helping to stabilize and continue the main upward trend in the short term, especially as prices move along the support trendline of this ascending channel.December 17th, Futures News: Economies.com analysts latest view: WTI crude oil futures have continued their strong rebound in recent intraday trading, benefiting from the solid support level of $55.00, which was also a potential target mentioned in our previous analysis. Currently, WTI crude oil futures are attempting to recover some of their previous losses, supported by positive signals from the Relative Strength Index (RSI), while also trying to shake off their clearly oversold condition.

Light Selling Ahead of CPI Data, Earnings Season

Cory Russell

Jul 12, 2022 14:56

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Late in the trading day on Monday, September E-mini S&P 500 Index futures were trading lower as investors prepared for the release of the US Consumer Price Index (CPI) data on Wednesday and the formal start of the second-quarter earnings season. Investors reduced risk throughout the day as China ordered the closure of the first casino in Macao in more than two years to stop the COVID-19 virus from spreading.


September E-mini S&P 500 Index futures are now trading at 3882.00, down 19.25 or -0.49 percent, at 17:55 GMT. The S&P 500 Trust ETF (SPY) is down $4.58 or 1.18 percent, trading at $384.09.


Communication services, one of the S&P 500's 11 main industries, had the highest percentage decline while utilities led gainers.


The Consumer Price Index (CPI) is predicted to increase on Wednesday from last month's reading of 8.6 percent to 8.8 percent. The start of the second quarter reporting season is anticipated to come later in the week with results from major banks including JPMorgan Chase & Co, Citigroup Inc, and Wells Fargo & Co.