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Japanese Prime Minister Shigeru Ishiba said on Wednesday he plans to use surpluses from taxes, non-tax revenues and unused budgets to fund cash handouts aimed at helping households cope with rising prices. "We expect additional tax revenues to reach 1.5 trillion yen to 2 trillion yen, and non-tax revenues to approach 1 trillion yen," Ishiba said in a public debate with opposition leaders ahead of a crucial July 20 upper house election. Japans Ministry of Finance said on Wednesday that tax revenues hit a record high for the fifth consecutive year in the fiscal year ending in March, thanks to strong corporate profits and rising inflation.The retail portion of FWD Group’s Hong Kong IPO was oversubscribed 37 times.Futures July 2, the latest data from the UAE Fujairah Oil Industry Zone showed that as of the week of June 30, the total inventory of refined oil at the UAE Fujairah Port was 19.156 million barrels, an increase of 36,000 barrels from a week ago. Among them, light distillate oil inventories increased by 749,000 barrels to 7.487 million barrels, medium distillate oil inventories increased by 678,000 barrels to 2.722 million barrels, and heavy residual fuel oil inventories decreased by 1.391 million barrels to 8.947 million barrels.On July 2, it was reported that TSMC has recently reduced its resources in mature processes in order to focus on high-growth markets, and intends to withdraw from the gallium nitride (GaN) market. The GaN products at Fab 5 will only be supplied until July 1, 2027, and will then be used for advanced packaging.Japanese Prime Minister Shigeru Ishiba: Additional tax revenue is expected to be 1.5-2 trillion yen, and non-tax revenue is close to 1 trillion yen to fund cash handouts.

S&P 500 Price Forecast – Stock Market Lilts Ahead of CPI

Cory Russell

Aug 10, 2022 14:36

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Technical Analysis of the S&P 500

The S&P 500 slightly declined during Tuesday's trading session to display symptoms of hesitancy, and it now seems probable that it will decline to the 4100 level. Additionally, bear in mind that the market has been on a long-term upward, so a little amount of a giveback would make some sense. Additionally, the 200 Day EMA provides a lot of dynamic resistance. However, probably most significantly, the CPI numbers will be released on Wednesday.


Wall Street will be closely monitoring if the Federal Reserve needs to tighten its monetary policy any further or whether things need to change. Given that the stock market has little to do with the economy at this point, Wall Street is now more concerned with money flow than anything else. Due to historical precedent, we are most definitely in a situation where we will have difficulties, and the 4200 level is a place where we should experience considerable noise.


It's possible that we will look for the 50 Day EMA, which is located at around 4000, if we go below the 4100 level.


Since the 4000 level is likely to get a lot of attention, it can be the subject of a short-term move. We need to get some clarity because, generally speaking, we are at a significant inflection moment. We'll probably have it after the Wednesday session, in my opinion.

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