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On September 16th, Brazilian President Lula da Silva met with Didi founder and CEO Cheng Wei and executives from Didi and its subsidiary, 99. 99 announced an additional investment of R$2 billion (approximately RMB 2.6 billion) in its food delivery platform, 99Food, to be fully operational by June 2026. 99Food currently operates only in São Paulo and Goiânia, and this new round of investment will fuel rapid service expansion, with plans to cover 15 cities by the end of the year and 20 more by January 2026. Wang Simong, 99 Brazil General Manager, explained that R$50 million (approximately RMB 65 million) of the investment will be used to build support points for delivery drivers, providing rest areas, drinking water, and sanitation facilities. In addition, 99 will launch a R$6 billion (approximately RMB 7.8 billion) welfare support program, including credit support for delivery drivers to purchase and lease electric scooters and bicycles.Japanese Finance Minister Katsunobu Kato declined to comment on the factors behind the stock market fluctuations.Japanese Finance Minister Katsunobu Kato: Japan is committed to complying with WTO rules, but at the same time will consider taking measures to increase pressure on Russia and coordinate with the G7.Hong Kong-listed Fosun Pharmaceutical (01652.HK) saw an unusual rise, surging 400% at one point during the session before the increase narrowed to 355%. The share price is now trading at HK$1.55.Japanese Minister of Economic Revitalization Ryomasa Akazawa: Hope that the Bank of Japan will implement a policy guided by price targets.

E-mini S&P: Plenty of Room to Downside with 4129.50 Target

Cory Russell

Apr 26, 2022 11:00

Early Monday, June E-mini S&P 500 Index futures were substantially down as investors responded to a dramatic drop in Asian equities markets. Investors are also anticipating higher interest rates and a flood of earnings reports from key technology firms like Amazon and Apple this week.


June E-mini S&P 500 Index futures are trading at 4233.50, down 33.75 points, or -0.79%, at 08:15 GMT. The S&P 500 Trust ETF (SPY) closed at $426.09 on Friday, down $11.97 or -2.73 percent.

Stocks in Shenzhen, China, are down 6%.

Investors in the United States are keeping an eye on mainland Chinese indices, which are leading the Asia-Pacific region's losses.


The Shanghai composite fell 5.13 percent to 2,928.51, while the Shenzhen component fell 6.08 percent to 10,379.28.


Despite strict lockdowns in Shanghai, China has been trying to manage its deadliest outbreak of COVID-19.


Chinese authorities in Beijing, China's capital, are warning that the virus has been spreading unnoticed for almost a week, adding to the quickly growing sickness.

Looking Forward...

Investors in the S&P 500 are preparing for the busiest week of corporate earnings season yet. This week, over 160 S&P 500 firms are set to report profits, with all attention on reports from large tech giants including Amazon, Apple, Google parent Alphabet, Meta Platforms, and Microsoft.

Technical Analysis of the Daily Swing Chart

According to the daily swing chart, the major trend is down. The resumption of the decline will be signaled by a trade through the intraday low of 4218.50. The major trend will turn to up if the price breaks through 4509.00.


4094.25 to 4631.00 is the short-term range. The market is now trading on the weak side of its retracement zone, which is resistance around 4299.25 to 4362.75.

Technical Forecast for the Daily Swing Chart

Trader response to 4267.25 is expected to impact the direction of the June E-mini S&P 500 Index into Monday's closing.

Bearish Scenario

The presence of selling will be shown by a persistent move below 4267.25. Taking out 4218.50 indicates that the selling pressure is increasing. This might set the stage for a run to the major bottom at 4129.50, followed by a drop to the 2022 low at 4094.25.

Possibilities for Growth

The presence of buyers will be signaled by a prolonged advance over 4267.25. Look for a push into 4299.25 if this develops enough upward momentum. Overtaking this level would indicate that purchasing is becoming more active, with a 50% level at 4262.75 being a possible objective.