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The yield on Japans 40-year government bonds fell 2.0 basis points to 3.785%.On July 1st, European Central Bank (ECB) Governing Council member Demarco stated that the ECB should not rush into further interest rate hikes given the unexpectedly rapid decline in oil prices. The ECB raised rates in June, with its own forecasts based on further policy tightening. However, the rapid decline in energy costs in the following weeks strengthened the case for delaying further rate hikes. Demarco stated that lower energy costs should quickly alleviate inflation expectations and curb wage increases. This statement further strengthens the ECBs rationale for keeping rates unchanged this month, after several policymakers had previously called for patience and a pause in further action. Demarco stated that there is only reason to raise rates now if a second round of inflationary effects occurs, inflation expectations decouple, or wage increases become more prevalent. "We havent seen these scenarios yet, so given that oil prices have fallen back to levels similar to those before the conflict, we can wait for the next round of forecasts rather than hastily raising rates again and risking unnecessary damage to economic growth." He also noted that even in the more dovish scenario in the latest forecast, there is still an assumption of further policy tightening. Therefore, if future data confirms this scenario, the European Central Bank may still need to raise interest rates further.XPeng Motors: It is expected to launch the XPeng MONA L03 in China on July 2 and start pre-sales on the same day, followed by a global market launch in July.NIO: In June 2026, it delivered 40,597 vehicles, a year-on-year increase of 62.9%.XPeng Motors: Delivered 40,126 vehicles in June and 103,295 vehicles in the second quarter.

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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