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Euro Stoxx 50 futures fell 0.6%, German DAX futures fell 0.8%, and UK FTSE 100 futures fell 0.2%.S&P 500 futures fell 0.38%, and Nasdaq futures fell 0.4%.March 26 – The ongoing conflict between the US, Israel, and Iraq has strained global energy supplies, prompting the Philippines, a country heavily reliant on energy imports, to seek oil imports from countries sanctioned by the US. Philippine Ambassador to the US, José Manuel Romúaldez, told Reuters that the Philippines is seeking a US "exemption" to allow it to purchase oil from US-sanctioned countries. When pressed further about whether oil imports from Venezuela and Iran were under discussion, Romúaldez replied that "all options are being considered." Regarding the US State Departments response to the Philippine request, Romúaldez said, "The work is underway."On March 26, Guo Yang, Director of the Social Security Department of the Ministry of Finance, stated at a press conference held by the State Council Information Office that the government will provide subsidies to urban and rural residents who participate in long-term care insurance in accordance with regulations. The central governments subsidies to local governments in 2026 will be pre-allocated based on the estimated number of participants in each region, and will be settled in the following year based on the actual number of participants, ensuring that funds are fully disbursed.March 26 – At 11:00 AM local time today (March 26), according to Japans Ministry of Economy, Trade and Industry, the release of Japans national oil reserves began at the Kikuma National Oil Reserve Base in Imabari City, Ehime Prefecture. The Japanese government plans to release reserves from nine bases nationwide, including Kikuma, throughout this month, with two more added in April, ultimately reaching eleven bases across the country. The total estimated release is approximately 8.5 million kiloliters, equivalent to about one months domestic oil consumption. The released national oil reserves will be sold by the Japanese government to the four major oil wholesalers for approximately 540 billion yen, who will then process them into gasoline and other refined petroleum products for the market. In addition, the Japanese government also plans to cooperate with oil-producing countries to release the "Joint Oil Reserves" stored within Japan, equivalent to about five days worth of consumption, this month.

S&P 500 Price Forecast – Stock Markets Continue to Suffer at The Hands of Fear

Jimmy Khan

Jan 20, 2023 11:59

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Technical Analysis of the S&P 500

During the trading session on Thursday, the S&P 500 E-mini contract somewhat retraced after puncturing the 50-Day EMA very early in the day. We have seen a lot of noise come and go from this market, so it is still unclear whether or not we will continue to move down, but it is definitely worth investigating. It's important to note that we had retreated from both a significant downtrend line and the 200-Day EMA. The sum of all of that suggests to me that although climbing higher will be challenging, it is not completely impossible. Wall Street, after all, has a special flair for snubbing the obvious.


The earnings season hasn't been great so far, and the Federal Reserve will continue to be tighter than most people think. Due to this, the commentators on financial networks will need to promote a fresh "story" to raise the market. The Federal Reserve will have to step in and save everyone because it very probably has to do with declining business profitability. They won't do so as long as inflation is as high as it is in the US, is the short answer to this. In all honesty, the Federal Reserve has no interest in repeating its actions from the 1970s.


Although I believe that ultimately we will search for the 3800 level, there could be a few brief upswings in the meantime. That turns out to be a great chance to start shorting again at the first hint of tiredness. However, I would anticipate that we would go straight towards 4200 if we break over the 4050 mark.


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