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Iranian Foreign Minister: Iran does not seek escalation, but any attack against our citizens or interests is unacceptable and compensation must be made for the damage.Market news: The United States has approved a deal with General Dynamics for a next-generation submarine.On July 29, according to Irans Fars News Agency, citing Israels Channel 12, Israeli and UAE officials recently held several secret meetings in an unnamed third country to discuss coordinating their positions on Iran and taking joint action in the international arena. The report stated that during the talks, the UAE strongly opposed the US-Iran memorandum of understanding, arguing that while the agreement might buy Iran time to improve its economic situation, it offered no substantial concessions. The two sides also discussed coordinating measures against Iran within international organizations, but agreed that any action would require prior consultation with the Trump administration. The report cited Western diplomatic sources as saying that the UAEs stance on Iran is tougher than some Gulf states, and that its ability to export energy through alternative routes strengthens its shared interests with Israel in dealing with the Iranian issue.On July 29th, according to The Information, Google (GOOG.O) disclosed last week that it has agreed to assume up to $44 billion in third-party data center lease payments in the event of tenant defaults. This figure is an increase from $6.5 billion at the end of September, reflecting Googles efforts to provide its AI chip alternatives to Nvidia to companies like Anthropic. It is understood that Google has assumed these commitments, known as "backup guarantees," to scale its TPU sales. Two sources revealed that Google assumed these commitments based on the consideration that the revenue generated from TPU sales would exceed the financial obligations arising from guaranteeing data center leases to accommodate these chips. One source stated that company executives were confident this financial calculation was favorable to Alphabet. The report states that Alphabet has already provided lease guarantees for approximately 2.4 gigawatts of capacity across about ten projects. These projects are currently incomplete, meaning Alphabets guarantees have not yet taken effect.As of the 2:30 closing bell, the main Shanghai gold futures contract fell 0.73% to 882 yuan/gram, the main Shanghai silver futures contract fell 1.43% to 14,016 yuan/kilogram, and the main SC crude oil futures contract fell 2.48% to 527 yuan/barrel.

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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