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Market news: Microsoft (MSFT.O) is replacing OpenAI and Anthropic models with its own AI models in some applications.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, which stated that it expects U.S. power sector natural gas consumption to reach a record high next year, driven primarily by rising overall electricity demand, expansion of natural gas generating capacity, and relatively low natural gas prices. The report forecasts a slight increase in natural gas demand across the economy this year, followed by a 3% increase in 2027. It predicts that wholesale electricity prices this summer will be lower than last summer, primarily due to lower natural gas costs delivered to power plants—however, summer heat waves could still cause prices to surge. Nationally, wholesale electricity prices are expected to average around $45 per megawatt-hour, with the largest price drops expected in western hub regions.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, stating that it forecasts gasoline prices to average $3.80 per gallon in the third quarter of 2026, down from over $4.20 per gallon in the second quarter. It expects retail prices to fall to around $3.40 per gallon in the fourth quarter of 2026. The EIA forecasts that the average annual retail gasoline price will fall below $3.10 per gallon in 2027.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, stating that increased oil production and the recovery of trade flows will lead to lower-than-expected crude oil inventory depletion in the coming months. We project a 2.2 million barrel per day (bpd) decrease in global oil inventories in the third quarter of 2026, compared to our June forecast of over 7 million bpd, and a 5 million bpd decrease in the second quarter of 2026. Next year, we expect rising oil production to return the market to a pre-conflict oversupply state.On July 8th, the U.S. Energy Information Administration (EIA) released its Short-Term Energy Outlook report, noting that on June 18th, the U.S. and Iran signed a memorandum of understanding to end the conflict and open the Strait of Hormuz. With the signing of the agreement and increased traffic through the strait, we have raised our forecast for global oil production for the remainder of this year. We now expect most crude oil production to recover to near pre-conflict levels by the end of this year, and most of the shut-down crude oil production to come online in the first quarter of 2027.

S&P 500 Price Forecast – Stock Markets Continue to Hover

Skylar Shaw

Jan 11, 2023 15:04

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Technical Analysis of the S&P 500

During Tuesday's trading session, the E-mini S&P 500 contract slightly declined and fell below the 50-Day EMA as Jerome Powell took the podium to deliver a speech. Given that not much changed after his speech, it is perhaps not shocking to see that the market has reversed course and returned to its previous level. The issue of whether or not we can hold onto this region is very different, and it is fairly probable that the Thursday session will be far more significant since the CPI statistics will be out during that session.


You need to pay great attention to those data because they are significant at a time when the globe is still concerned about inflation. In the end, the market will continue to oscillate a lot, but for now, the 200-Day EMA, which is now at the 4000 level, is sandwiched between the 50-Day EMA and the 200-Day EMA signs. I feel that we should "fade the rallies," but because there has likely been a lot of loud activity in the meantime, I do believe that it will likely not be long before we must make a more significant choice.


Nevertheless, do not undervalue Wall Street's capacity for seeing the positive side of any situation. However, sooner or later, the wise money will arrive and put everyone on the defensive. The 200-Day EMA and the 4000 level are slightly above us, and we are also in a well defined channel.

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