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Tencent Holdings (00700.HK): On June 9 (New York time), the Company entered into subscription agreements with the US dollar notes underwriter for the planned issuance of US$2.45 billion in US dollar notes and with the RMB notes underwriter for the planned issuance of RMB15 billion in RMB notes.On June 10th, Futures News reported that Trump stated a peace agreement with Iran was expected to be signed within two or three days, and US Energy Secretary Wright indicated a "significant increase" in ship traffic through the Strait of Hormuz. During Asian trading hours, oil prices continued their decline from Monday, with WTI falling below the $90 mark, briefly approaching $85, a drop of over 10% from its high in two trading days. In the early morning, oil prices rebounded sharply after Trump declared a response to the downing of a US military aircraft by Iran, narrowing the losses by the close. Crude oil prices have seen significantly increased volatility this week, and many uncertainties remain. Foreign media statistics show that US President Trump has declared an agreement "imminent" 37 times, but no agreement has been reached to date. Besides geopolitical factors, supply and demand are also negatively impacting the market. Oil prices have already fallen back to around $90, and the potential for further significant declines in the short term is relatively limited. If US-Iran negotiations do not proceed smoothly, oil prices still have a high probability of rebounding.1. U.S. stock indexes closed mixed. The Dow Jones Industrial Average rose 0.17% to 50,872.11 points, the S&P 500 fell 0.26% to 7,386.65 points, and the Nasdaq Composite fell 0.97% to 25,678.82 points. Home Depot and Sherwin-Williams rose more than 3%, leading the Dow Jones gains. The Wind U.S. Tech Big Seven Index fell 1.24%, with Apple falling more than 3% and Tesla falling 3%. The Nasdaq China Golden Dragon Index fell 0.39%, with Daqo New Energy falling more than 7% and Jinko Solar falling nearly 7%. 2. European stock indexes closed mixed. The German DAX fell 0.74% to 24,433.06 points, the French CAC40 rose 0.05% to 8,203.43 points, and the UK FTSE 100 fell 1.41% to 10,227.33 points. 3. The WTI crude oil futures contract closed down 2.85% at $88.7 per barrel; the Brent crude oil futures contract fell 2.57% to $91.83 per barrel. 4. International precious metals futures generally closed lower, with COMEX gold futures down 1.80% to $4284.80 per ounce and COMEX silver futures down 4.56% to $65.46 per ounce.Sources say SpaceX has informed investors that it aims to begin testing orbital AI computing in 2027.According to Iranian state media, the situation has now calmed down following the US attack on southern Iran.

S&P 500 Price Forecast – Stock Markets Continue to Struggle

Alice Wang

Jul 15, 2022 15:54

Technical Analysis of the S&P 500

Due to the ongoing pessimism, the S&P 500 has decreased somewhat during Thursday's trading session. At this time, it seems as if the market is prepared to go further, maybe attempting to approach the most recent lows at the 3637 level. In the end, this market should continue to see a lot of agitated behavior. I believe that fading rallies will remain a significant problem. The 50 Day EMA is now hanging in the general vicinity of the 3950 level, which serves as the ceiling at this time.


Ultimately, your indication to become engaged will be when you start to feel exhausted after brief rallies. Given the lack of global growth and the fact that inflation is still a problem, I do believe the downward trend will continue. Additionally, the Federal Reserve is rapidly tightening monetary policy, and as a result, a 100 basis point interest rate rise is being predicted. Due to the fact that the S&P 500 contains so many significant exporters, it is extremely probable that we will continue to see significant problems with the global economy.


In the end, a running season is approaching, so there could be some "hopium" waiting to happen, but after hearing J.P. Morgan declare, "We have never seen an economic scenario like this," during its results presentation, I don't think this earnings season will be cause for celebration. After a rally, I will suppress any indications of tiredness.

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