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On June 29th, Kiwibank Chief Economist Jarrod Kerr stated that despite the renewed conflict in the Middle East over the weekend, the New Zealand market generally believes a peace agreement is highly likely. With oil prices falling to pre-war levels, demand appears poised for a rebound. He added that while the New Zealand economy has been hit, it has not completely collapsed. The oil crisis has slowed the pace of economic recovery, enough to damage demand, but it has not completely derailed economic activity. Kerr pointed out that the Reserve Bank of New Zealand has strong reasons to maintain interest rates at its July policy meeting.On June 29th, the "Heterogeneous Computing Ark," a full-stack platform for the software ecosystem of domestic computing systems jointly developed by the Computer Network Information Center of the Chinese Academy of Sciences and other institutions, was launched online. This platform addresses pain points such as difficulties in software adaptation, code migration, and cumbersome scientific research operations under domestic computing power, providing an integrated solution for the construction of a scientific computing software ecosystem. The platforms release achieves seamless integration of algorithms, code, and applications, enabling domestic computing power to move from hardware leadership to mature hardware-software synergy, and helping my country build an independent, controllable, efficient, and easy-to-use domestic scientific computing ecosystem.June 29th - According to Shanghai Railway Station (which administers Shanghai Station, Shanghai South Station, Shanghai Hongqiao Station, Shanghai Songjiang Station, Shanghai West Station, Nanxiang North Station, Anting North Station, Anting West Station, Jinshan North Station, and Liantang Station), the 2026 summer passenger transport period will run from July 1st to August 31st, a total of 62 days. Shanghai Railway Station expects to handle 29.42 million passengers, with an average daily passenger volume of 474,500, representing a year-on-year increase of 4.0%. Specifically, July is expected to see 13.92 million passengers, and August is expected to see 15.5 million passengers.June 29th, Futures News: With the impact of geopolitical conflicts waning and crude oil gradually returning to a normal supply and demand balance, oil prices have continued to decline. Fuel oil cost transmission has dampened market confidence, leading to cautious and low-level procurement, and a growing bearish sentiment in the market. From a supply and demand perspective, concentrated maintenance shutdowns at local refineries have reshaped the short-term supply and demand pattern for fuel oil. After mixed price movements, most products are in oversupply, offering little support for price increases. While refinery deep processing has seen some recovery, it remains unprofitable, negatively impacting downstream processing activity. Based on these multiple factors, fuel oil trading is expected to be more likely to decline this week, with prices remaining in a downward trend.The Hang Seng Index rose more than 1% in early trading, with Baidu (09888.HK) leading the gains among constituent stocks, rising over 6%. The Hang Seng Tech Index is currently up 2.88%.

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.