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Russia launched a wave of missile attacks on Ukrainian cities hours before Ukrainian President Volodymyr Zelenskyy was due to hold peace talks with US President Donald Trump.On August 18, Air Canada issued a statement on its website saying it has suspended its plan to gradually resume operations and canceled all flights because the Canadian Union of Public Service Employees (CUPE) illegally instructed flight attendants not to return to work. All Air Canada and Air Canada Rouge flights have been canceled until further notice, and passengers are urged not to go to the airport unless they have confirmed tickets on another airline.French President Emmanuel Macron stated on August 18th, following a meeting of the "Coalition of the Willing," that Russia, through its peace proposals, is demanding Ukraines surrender. "I dont believe Putin wants peace," Macron told reporters. "I believe he wants Ukraine to surrender." Macron will meet with US President Donald Trump and other European leaders, including Volodymyr Zelensky, on August 18th.On August 18, Syrian leader Shahrah said his country hopes to avoid military conflict with US-backed Kurdish forces if efforts to integrate Syrias northeastern autonomous administration into state structures fail. He said Kurdish leaders had expressed their readiness to reach a landmark agreement in March that would bring Kurdish-controlled areas under state jurisdiction. But he warned that ground operations suggest otherwise. Shahrah said Turkey and Washington, the main powers supporting the integration of Syrias oil-rich northeastern region into Syria, hope to resolve the issue peacefully.On August 18, officials in Russias Kursk Oblast said on the 17th that two sections of the regions highway were attacked by Ukrainian drones between the evening of the 16th and the 17th, resulting in one death and two injuries. The Ukrainian Ministry of Defenses Main Intelligence Directorate confirmed the attack on the Kursk Oblast highway that day and said that a Russian general was among the injured.

S&P 500, Nasdaq 100 Weekly Forecasts – Bond Yields Hammer Equity Sentiment

Skylar Shaw

Apr 25, 2022 10:31

It's going to be a busy week for US firms reporting first-quarter profits, with familiar names like General Electric (GE), Microsoft (MSFT), Ford (F), Twitter (TWTR), Amazon (AMZN), and Apple (APPL) all due to release their latest quarterly financial reports. Netflix (NFLX) and Tesla (TSLA) had drastically contrasting results this week, with Netflix (NFLX) falling over 35% on very low membership numbers and Tesla (TSLA) rising approximately 8% on strong sales and profitability. 


The fact that famed hedge fund billionaire Bill Ackman sold his newly acquired Netflix position for a $400 million loss after the results does not bode well for other stay-at-home tech businesses. The earnings schedule for the next week might be full of surprises.

 

While the small print of firms' balance sheets will be scrutinized next week, the 800-pound monster in the room — US interest rates and government bond yields – will need even greater scrutiny. 


Market expectations for US rate rises have risen to the point that the market is now pricing in the Federal Reserve aggressively front-loading rate hikes, with four 50 basis point raises expected at the next four FOMC meetings. 


The last time the Fed raised interest rates by 50 basis points was in May of 2000. While increased interest rates may help banks make more money, the IT industry, particularly the big names like Apple and Amazon, becomes less tempting as interest rates rise.


After Thursday's bearish engulfing candle erased the preceding three days' gains, the S&P 500 is expected to close the week flat. The 200-day simple moving average behaved as resistance, and the indices are currently trading below all three moving averages (20, 50, and 200), which is still another bad indicator. If support at 4,361 is firmly broken, 4,270 seems to be the next target.

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