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On May 31st, the Shenzhen Municipal Transportation Bureau released its April report on the operation and risks of the ride-hailing industry in Shenzhen. As of April 30, 2026, there were 26 ride-hailing platforms in Shenzhen, with 142,247 "Online Ride-Hailing Vehicle Transport Permits" and 394,872 "Shenzhen Taxi Driver Permits" issued. Data from various platforms shows that the average daily number of ride-hailing orders completed per vehicle in the city this month was approximately 13.01. The demand in Shenzhens ride-hailing market exhibits seasonal fluctuations, and the current market is generally saturated. Enterprises and individuals intending to engage in ride-hailing operations are strongly advised to fully understand relevant laws and regulations, conduct in-depth market research, objectively assess operating returns, and make rational and prudent investment and career decisions.On May 31, local time, US President Trump stated in an interview broadcast on Fox News on May 30 that the US and Iran were close to reaching a "very good deal." Trump also stated in the interview that they would get a "better deal," which should have been faster. However, Trump indicated that if a deal could not be reached, he would request the intervention of the "War Department" (i.e., the US Department of Defense). Trump stated that if he did not get what he wanted, "we will end it another way." Trump also stated that by signing an agreement, they could ensure navigation in the Strait of Hormuz, ensure Irans lack of nuclear weapons, and so on. When discussing the agreement with Iran, Trump emphasized that he was not in a hurry. "If youre in a hurry, you cant get a good deal."May 31 - According to Lighthouse Pro, as of May 31, the film "Love Letter to Grandma," produced by Damai Entertainment, has grossed 1.36572 billion yuan (including pre-sales), entering the top three of the 2026 box office chart.May 31 - According to the Japan Meteorological Agency, a magnitude 3.9 earthquake struck southern Amami, Kagoshima Prefecture, at approximately 10:58 a.m. on May 31. The maximum intensity was felt as 3, and the focal depth was 50 kilometers. There was no risk of a tsunami.May 31 – According to US sources on May 30, after the US Supreme Court ruled that the Trump administration had no right to impose higher tariffs on almost all trading partners, US companies have begun receiving tariff refunds. However, this process may be hampered by the Trump administrations planned appeal. The report states that the Trump administration indicated on May 29 that it plans to appeal a federal judges ruling. This ruling allows all importers who paid tariffs deemed invalid to apply for refunds, not just those who have filed lawsuits.

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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