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On September 7th, Iranian Parliament Speaker Mohammad Ghalibaf announced on Sunday that Iran would adopt a more aggressive military posture in its war with the United States. Ghalibaf stated in a post, "If they havent understood by now, then they should understand before its too late that the rules of the game have changed. From now on, any act that infringes upon Irans interests and security will be met with a faster, fiercer, and more painful response." He had previously warned that Irans retaliatory actions would no longer be "reciprocal." Ghalibaf also acknowledged that Iran is facing severe economic pressure under the comprehensive sanctions and "strangulation" and isolation efforts led by the United States. He said, "Sharp exchange rate fluctuations, inflation, unemployment, and market management are fundamental challenges that have placed enormous pressure on peoples livelihoods." He further stated that Iran must commit to strengthening domestic production and utilizing technology to "develop short-term and permanent solutions."September 7th - Clashes between Yemeni government forces and Houthi rebels in Taiz and Hodeidah provinces entered their fourth day on the 6th. According to medical sources from both sides, the fighting has resulted in at least 117 deaths. A senior medical official operating with government forces on the west coast stated on the 6th that since the conflict began on the 3rd, 54 government soldiers have been killed and many others wounded. The fighting continues to escalate with no signs of abating. Meanwhile, medical personnel at a Houthi-controlled hospital in western Hodeidah province reported that 63 Houthi fighters have been killed in the clashes.September 7th - The 26th China International Fair for Investment and Trade (CIFIT) will be held in Xiamen, Fujian Province, from September 8th to 11th. This years CIFIT has attracted over 1,200 government agencies and business delegations from 129 countries and regions and 30 international organizations.Jared Kushner, Trumps son-in-law: We are working with Hamas to move towards disarmament and have reached an agreement with Israel on the ultimate goal of the Gaza Strip plan.The UK Maritime Trade Operations Office reports that 59 vessels have passed through the Strait of Hormuz in the past 48 hours.

US open: Stocks Head Lower, Twitter, Big Tech in Focus

Cory Russell

Apr 27, 2022 10:53

The Headlines on Twitter

Following a strong finish in the previous session and ahead of the commencement of large tech results, US markets are expected to start lower. Inflation has been a major subject this earnings season, and investors will be watching for clues about the impact of inflation on consumer spending when the numbers come in.


The statistics from the United States showed that durable goods rose 0.8 percent in March, up from 1.7 percent in February, but still falling short of the 1 percent expectation.

 

Looking forward Consumer confidence in the United States is predicted to improve to 108.00 from a 10-month low later this afternoon. This would be the first time in four months that it has improved, despite rising prices. Interestingly, despite a drop in consumer confidence, Americans have continued to spend, with retail sales remaining largely stable.

In TheBusiness World:

Twitter is up 0.2 percent in premarket trading as investors digest the news that Elon Musk has purchased the social media company after the board approved a $44 billion deal to take it private.


Elon Musk has already stated that he may not seek to monetize Twitter; instead, his goal is to make it a more transparent and fair platform for free speech.

 

In the next months, profits will pick up a notch, with large tech earnings taking center stage. Earnings growth is likely to slow in general. However, Microsoft is expected to disclose record earnings after the market closes today. Despite this, the stock has underperformed.

 

After the closing, Alphabet is also expected to report. On revenue of $68.13 billion, EPS of $25.63 is expected.

Where Does the S&P500 Go From Here?

The S&P500 hit resistance at the 100 sma at 4510, then dropped below the 50 sma, finding support at 4200. While trading out of oversold territory, the RSI is below 50, suggesting potential decline. 


A break below 4210/4200 could open the door to 4140 if the index breaks below it. Meanwhile, the extended lower wick on the candle to 4200 could stimulate buyers, implying that the price did not find much acceptance at these lower levels, therefore propelling the price higher. Buyers are attempting to break through resistance at 4280, with a move above exposing the 50 sma at 4400.

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