EUR/USD 1.16209
-0.410%
Gold 4545.67
-2.292%
Oil 100.978
3.282%
USD/JPY 158.766
0.243%
GBP/USD 1.33180
-0.615%
GBP/JPY 211.449
-0.370%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
May 16 – According to the New York Times, the Trump administration is considering establishing a $1.7 billion fund to compensate allies investigated by the Justice Department during former President Bidens term, a move that would create a moral, legal, and political minefield for Republicans and Justice Department leadership. According to three people familiar with the matter, this unusual plan has not yet been finalized or approved. Democrats and former administration officials have criticized the plan as a massive, taxpayer-funded secret political fund. The proposal is a response to various allegations brought by President Trump against the federal government he controls. He has sought compensation for leaked tax returns during his first term, post-leave investigations into his handling of classified documents, and investigations into potential ties between his 2016 campaign and Russia. The idea of establishing a government fund to pay Trumps political allies has gained increasing support internally as the Justice Department and the White House attempt to resolve Trumps $10 billion lawsuit against the IRS, which he filed in January. Officials familiar with the details revealed that establishing a compensation fund for Trumps allies, but not for the president himself, could provide a short-term solution, allowing the president to obtain tangible benefits from the lawsuit before a judge dismisses it.Market news: BlackRocks private credit fund valuation is under investigation by the U.S. Department of Justice.According to SEC filings, Berkshire Hathaway reduced its stake in Chevron (CVX.N) by 35.2%, down to 84.4 million shares.SEC filings show that Berkshire Hathaway has sold off all of its Amazon (AMZN.O) shares.S&P: As a major net exporter of crude oil and an emerging producer of refined products, Nigeria has been less affected by the Middle East conflict.

S&P 500 Price Forecast – Stock Markets Wait for Jerome Powell

Alice Wang

Feb 01, 2023 15:58

S&P 500 Technical Analysis

The S&P 500 initially pulled back during the trading session on Tuesday to reach to the 200-Day EMA. The 200-EMA is of course an area where a lot of people pay close attention to, especially as it is near the 4000 level. The 4000 level is obviously a large, round, psychologically significant figure that people will pay close attention to. If we break down below there, we could break down to the 50-Day EMA, but the fact is that we have so much in the way of noise out there and events over the next couple of days, it’s difficult to get overly enthusiastic about anything.


At this point, we have to think about the FOMC Meeting that is going on over the next 48 hours. The market will have to wait to see what Jerome Powell has to say, and whether or not he squashes risk appetite. I think he will try to do so, but it’s worth noting that the market has completely ignored him for the most part. On the other hand, and if they do something to really spook the market, we could see a significant selloff.

The bullish case scenario is they completely ignore him and break above the 4100 level. Breaking above the 4100 level opens up the possibility of a move to the 4200 level. Either way, I think there is going to be a lot of choppy volatile markets. With that being the case, I think you get a situation where you need to be cautious and nimble, and probably wait until after the press conference on Wednesday as there will be a lot of shenanigans played between now and then by options traders pushing the market around.



Suggestion