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German Economy Minister: The current oil market is overly sensitive and mainly driven by speculation. Therefore, relevant measures will have a restraining effect on oil prices.On March 11, Carsten Brzeski of ING Bank stated that the Middle East wars are threatening what the European Central Bank (ECB) previously called a "good position." With energy prices soaring, any discussion of interest rate cuts is no longer under consideration. He noted that the ECBs judgment might be influenced by its experience in 2022 when it misjudged the energy price shock as temporary. However, Brzeski pointed out that the current situation is clearly different. "At this stage, the risk of a wage-price spiral appears small." Nevertheless, if a "protracted war" scenario occurs, the ECB may be forced to take action, pushing for one or two rate hikes. ING expects the ECB to not adjust interest rates at its March 19 meeting and also anticipates no further mention of a "good position." Instead, the central bank is likely to adopt a more hawkish tone to curb inflation expectations and demonstrate preparedness to raise rates if necessary.German Economy Minister: The United States and Japan will be the largest contributors to the International Energy Agencys release of strategic petroleum reserves.German Economy Minister: The International Energy Agency plans to release the largest amount of oil reserves in history.German Economy Minister: Unable to provide a specific timetable for releasing oil reserves and limiting gasoline price increases.

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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