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April 15 (Reuters) – Two U.S. government officials said on Tuesday that the Trump administration will allow a 30-day sanctions waiver for Iranian seaborne oil to expire later this week, as the U.S. currently blocks shipments from Iranian ports. The waiver, issued by the U.S. Treasury Department on March 20, allowed approximately 140 million barrels of oil to enter the global market and eased energy supply pressures during the war with Iran. U.S. Treasury Secretary Bessant stated last month that the waiver would expire on April 19. This move comes amid criticism from lawmakers of both parties for temporarily easing sanctions on Iran and Russia amid the ongoing U.S.-Israel war and the Russia-Ukraine conflict. One U.S. official said Washington has several tools at its disposal to target entities that purchase Iranian oil, including “secondary sanctions.” The source added, “Furthermore, with the reinstatement of UN sanctions on Iran and Iran’s history of attempting to cover up its illegal activities with seemingly legitimate ones, any transaction with Iran could trigger additional sanctions.”Market news: Two U.S. officials said the U.S. will allow temporary sanctions waivers targeting Iranian oil at sea to expire this week.Federal Reserve officials Paulson, Barkin, Collins, and Governor Barr will participate in a fireside chat at the Federal Reserve Boards working forum in ten minutes.Note: Federal Reserve Governor Barr did not comment on the U.S. economic outlook or monetary policy in his prepared remarks.Federal Reserve Governor Barr will deliver opening remarks in ten minutes at a working forum hosted by the Federal Reserve Board of Governors.

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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