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On May 31, a meeting was held in Shanxi Province to deploy a special campaign to address safety risks and hidden dangers in coal mines. The meeting, held on May 30, was attended and addressed by Lu Dongliang, Deputy Secretary of the Provincial Party Committee and Governor of Shanxi Province. The meeting emphasized that the lessons learned must be heeded and the consequences of past mistakes must be absorbed. All levels of government and departments across the province must learn from these cases, be inspired by past mistakes, and remain vigilant regarding safety. They must strengthen their sense of urgency, responsibility, and mission in ensuring safety. The meeting stressed the need to always prioritize the people and their lives, and to thoroughly investigate and address safety risks and hidden dangers in the provinces coal mines with a firm resolve, ensuring the effective implementation of the "eight hard measures" for mine safety. The meeting also emphasized focusing on the coal mines with the most prominent problems and concentrated risks, adopting a "zero-tolerance" attitude to accurately investigate and severely crack down on illegal and irregular activities such as hidden working faces, falsified safety monitoring, unauthorized mining beyond permitted layers or boundaries, illegal subcontracting, and failure to implement major disaster management measures. We must fully cooperate with the State Councils accident investigation to thoroughly investigate the cause of the accident, as well as the responsibilities of local management, industry supervision, and enterprises. We must also focus on rectifying prominent problems such as the weak establishment of the concept of safe development, a lack of awareness of the rule of law, failure to implement the responsibilities of "key personnel," insufficient penetration of safety supervision, and lax and lenient law enforcement inspections at the grassroots level.On May 31, the Colombian Ministry of Foreign Affairs issued a statement on May 30, local time, stating that in response to the Ecuadorian governments earlier announcement that it would stop imposing a "safety tax" on Colombian goods, Colombia would lift its trade retaliatory measures against Ecuador and promote the normalization of bilateral economic and trade relations.May 31 - A Bloomberg survey of economists median forecast indicates that the U.S. unemployment rate will remain unchanged at 4.3% in May, while nonfarm payrolls will increase by 89,000. This increase would push the three-month average job growth rate to its highest level in over a year, sparking discussions about a continued acceleration in hiring. Forecasters expect the healthcare sector to maintain its strong momentum, while cyclical sectors such as construction, leisure, and hospitality will also see a recovery, with demand in these sectors likely benefiting from the warm weather of the past month. Manufacturing employment may also be boosted as consumers stockpile goods in anticipation of potential price increases following a potential conflict with Iran.On May 31, according to Iranian state television, Saeed Ajorlou, a member of Irans Media Committee, stated on Saturday that Tehran had not yet approved the final draft of the proposed agreement with the United States, and warned that Iran might withdraw from the agreement if the US failed to fulfill its commitments. In an interview, Ajorlou said that to his knowledge, as of Friday evening, the final text had not been approved, but the differences between the two sides were minimal. He stated, "If the final text is approved, we will enter a 60-day phase of detailed consultations," adding that each of the 14 articles of the agreement contains annexes that require further negotiation. Ajorlou emphasized that the implementation mechanism is more important than the text itself, especially regarding the acquisition of Iranian assets and the fulfillment of commitments by the other side. He stated that the proposed agreement includes a clause allowing Iran to withdraw from the agreement if the other side fails to fulfill its commitments. He indicated that Iran could withdraw from the agreement if violations occur, including breaches of the ceasefire agreement, failure to grant access to Iranian funds, or failure to lift the naval blockade. He added that if commitments are not fulfilled in the initial phase, Iran will reconsider its participation in the proposed 60-day negotiations.The Indian government stated that the current consumption tax rates for gasoline and diesel consumed domestically will remain unchanged.

US Stock Markets Continue to Get Hammered

Skylar Shaw

Apr 26, 2022 10:51


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S&P 500 Technical Analysis

The S&P 500 has dropped down to about 4200 points. The market may fall considerably lower, but we're a touch overextended right now, so a comeback makes sense. As a result, I am more than happy to jump all over a bounce, especially because there is still a lot of pessimism. If we break it down even further, the 4100 level is the next possible goal.


The 200 Day EMA is at 4400 and slanting lower on the upswing. I feel the market will struggle to break above that level, therefore if we can break above the 200 Day EMA, we may be able to turn things around. The Federal Reserve, on the other hand, remains quite hawkish, and this will continue to be one of the most important elements to consider.


Finally, this market seems to be in bad shape, so I'm waiting to see if we have a rebound that shows symptoms of tiredness that we may profit from. Traders will continue to be able to get engaged despite signs of weariness after a short-term rebound. In the end, I believe this is a market that is still quite loud but still favors the downside. Markets will not entirely turn around until we break over the 4500 level. Keep in mind that it's all about the Federal Reserve more than anything else.