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On January 14, the U.S. Treasury Department stated that Treasury Secretary Bessenter met with South Korean Deputy Prime Minister and Minister of Strategy and Finance Koo Yoon-cheol on Monday to discuss key mineral resources and ways to strengthen U.S.-South Korea economic ties. According to a statement released Tuesday, the two also discussed the recent depreciation of the Korean won. The statement said, "Secretary Bessenter emphasized that excessive volatility in the foreign exchange market is unwelcome and reiterated South Koreas strong economic performance, particularly in key industries supporting the U.S. economy, making it an important partner for the United States in Asia."The South Korean won rose 1% against the dollar as U.S. Treasury Secretary Bessenter made his remarks.January 14th - According to Fox News, the U.S. State Department will suspend all visa processing for 75 countries to strengthen scrutiny of applicants deemed potentially "public charge." An internal State Department memo indicates that consular officials will deny visa applications under current law while the State Department reassesses its visa vetting and background check procedures. Affected countries include Somalia, Russia, Afghanistan, Brazil, Iran, Iraq, Egypt, Nigeria, Thailand, and Yemen. The suspension will begin on January 21st and will continue indefinitely until the State Department completes its reassessment of the visa processing procedures.Greenland authorities: The aim is to train operational capabilities under unique Arctic conditions and strengthen the alliance’s presence in the Arctic region for the benefit of European and transatlantic security.Greenland authorities: The Danish Armed Forces are strengthening their presence in Greenland and continuing exercises in close cooperation with allies.

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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