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On April 3, Iranian Ambassador to Egypt Mojtaba Ferdowsi Poul stated that if the United States decides to send troops to land on Iranian islands, it could lead to the Houthi rebels blocking the Bab el-Mandeb Strait. Ferdowsi Poul said, "We hope our enemies will not make another strategic mistake against Iran. If they want to land on or occupy Iranian islands, another strait will become like the Strait of Hormuz, which will trigger financial markets and the global economy. This is not the situation we want. We will not beg the Houthis, but they have this plan." Houthi political bureau member Mohammed al-Buhaiti previously stated that the movement might block the Bab el-Mandeb Strait connecting the Red Sea and the Gulf of Aden, but only against the invading nation.Futures News, April 3rd - According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.7%, mainly due to a surge in international crude oil futures. US President Trumps statement that the US would continue attacks on Iran sparked market concerns about a potential long-term disruption to crude oil supplies, causing Brent crude futures to jump 7.8%, which boosted sentiment in the Chicago soybean oil market. The May contract closed near its intraday high, slightly below this weeks high of $69.68. The US Department of Agricultures weekly export sales report showed that for the week ending March 26, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,100 tons, a 53% increase from the previous week, but a 58% decrease from the four-week average.Federal Reserves Goolsby: The oil price shock adds another layer of uncertainty.Federal Reserves Goolsby: Uncertainty is leading to an environment of low hiring and low layoffs.Federal Reserves Goolsby: When gasoline prices rise sharply, some complications can arise that could push up inflation expectations. That would make things even more difficult for us.

S&P 500 Gains 4.5% As Traders Bet The Fed Will Raise Rates By 50 Bps In December

Skylar Shaw

Nov 11, 2022 16:51



As the inflation rate drops to 7.7%, tech stocks rise.


As a result of traders' reactions to the U.S. inflation reports, which showed that the inflation rate decreased from 8.2% in September to 7.7% in October, the S&P 500 is up 4.5%. The heavily tech-focused NASDAQ Composite is up 6%.


Data on inflation gave today's international markets a lot of assistance. Additionally, Fed officials gave stock market-friendly hints that the Fed would scale down rate increases.


The rise is being driven by tech stocks. Amazon and NVIDIA are up 12%. Tesla, Apple, and Microsoft are all up 6%.


As a less aggressive Fed policy would help the entire market, it is not surprising that the rally is widespread and that all market categories are increasing. As traders concentrate on riskier bets, consumer defensive stocks underperform the market.


The Michigan Consumer Sentiment report, which will be the focus of traders tomorrow, is anticipated to reveal a decline in consumer sentiment from 59.9 in October to 59.5 in December. Since today's surge has been so robust, traders will probably need a solid report to keep the recovery going. If Consumer Sentiment falls short of forecasts, traders may seek to lock in some profits before the weekend.


S&P 500 is currently probing the resistance at 3920 after managing to stabilize above the 3900 mark. RSI is still in the moderate range despite the strong rally, so there is still plenty of room for further upward momentum to develop should the proper catalysts materialize.


The S&P 500 will move toward the next resistance level at 3960 if it settles above the 3920 mark. A rise above this point will allow for the testing of the 4000 level resistance. The next resistance level at 4015 will be reached by the S&P 500 if it rises above 4000.


The S&P 500's closest support level is found at 3885 on the support side. The S&P 500 will move toward the next support at 3835 if it drops below this level. The S&P 500 may receive significant support in the 3815–3835 range because the 50 EMA is situated at 3815.

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