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On July 24, Russian Foreign Minister Sergey Lavrov stated that despite the United States change of stance on the "consensus" reached at the August 2025 Alaska summit between the Russian and US leaders, Russia will fulfill its established mission in the special military operation in Ukraine. Lavrov emphasized that Russia expressed its sincerity in reaching an agreement at the Alaska summit, but comments from US Secretary of State Marco Rubio indicated that the US had revised its position. He pointed out that the US had assured Russia that Zelensky would take necessary steps to peacefully resolve the Russia-Ukraine conflict, but this promise has not been fulfilled. Lavrov stated that Russia prefers a diplomatic solution to the conflict, but will fulfill the conditions set by President Putin in June 2024 regardless. He also stressed that Russia has never abandoned the political and diplomatic solution to the Ukraine issue.July 24th - According to tech media Benchlife, NVIDIA (NVDA.O) has notified its motherboard partners of a price increase affecting GDDR6 and GDDR7 memory kits. It is understood that NVIDIA packages GPU chips and VRAM (video memory) chips into kits when selling products to its partners, who are then responsible for installing these chips onto their own designed PCBs (printed circuit boards) to produce custom graphics cards. With the upcoming price increase for GDDR6 and GDDR7 memory kits, it is expected that AIB (Add-in Board) manufacturers will have no choice but to raise their graphics card prices accordingly.The Russian Ministry of Defense stated that over the past night, Russian air defense forces intercepted and destroyed 571 Ukrainian drones over Russian territory, the Sea of Azov, and the Black Sea.The Russian Ministry of Defense stated that Russian forces struck 27 Ukrainian military vessels in the past week.On July 24th, to facilitate the development of supporting regulations for the "Regulations on the Supervision and Management of Non-bank Payment Institutions" and to standardize the management of Category II stored-value account operations, the Peoples Bank of China has drafted the "Administrative Measures for Category II Stored-Value Account Operations." The "Regulations" and their implementing rules redefine payment business classifications, placing prepaid card issuance and acceptance under Category II stored-value account operations and outlining basic business requirements. As a supporting system to the "Regulations," the "Measures" clarify specific rules for Category II stored-value account operations, ensuring the thorough implementation of the "Regulations." With the development of prepaid card business, some new situations have emerged in the market, including both innovative practices that benefit the public and issues of irregularities and risks. Therefore, it is necessary to adapt and improve the regulatory system in light of the development trends and potential risks of prepaid card business, create a favorable policy environment, and promote the healthy and orderly development of the prepaid card industry.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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