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Sri Lankan international sovereign bonds fell by 1 cent, while Pakistani and Indonesian bonds came under pressure after Trump announced new tariffs.July 24th - S&P Globals preliminary German Composite PMI rose to 51.2 in July from 49.5 in June, exceeding analysts expectations of 49.8. Phil Smith, Associate Director of Economics at S&P Global Market Intelligence, stated, "The German economy had a strong start to the third quarter, with the Composite PMI returning to growth territory; previously, the index had been in contraction for three consecutive months due to the outbreak of conflict in the Middle East." However, Smith pointed out that the path to a sustainable recovery remains highly uncertain given the escalating hostilities in the region and the renewed push up global energy prices. Germanys preliminary Manufacturing PMI rose to 52.2 in July from 50.3 in the previous month, exceeding analysts expectations of 50.5. Smith stated, "Manufacturing output grew strongly in July, marking the most significant increase in nearly four and a half years." Meanwhile, the preliminary Services PMI recorded 49.6, an improvement from 48.6 in the previous month, reaching a four-month high.The Iranian military has launched another wave of drone attacks against US military facilities in Kuwait.Germanys preliminary composite PMI for July was 51.2, below the expected 49.8 and the previous reading of 49.5.Germanys preliminary manufacturing PMI for July was 52.2, below the expected 50.5 and the previous reading of 50.3.

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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