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February 4th - Sergei Koletsky, Chairman of the Board of Directors of Ukraines state-owned oil and gas company Naftogaz, announced on February 4th that the first shipment of liquefied natural gas (LNG) from the United States for 2026 has arrived in Ukraine. Koletsky stated that nearly 100 million cubic meters of gas arrived at the LNG receiving terminal in Poland at the end of January and has been injected into the Ukrainian gas transmission system. He indicated that Ukraine plans to import up to 1 billion cubic meters of LNG from the United States throughout 2026. The next shipment of US LNG has been contracted and is scheduled for delivery between February and March.February 4th - The pound rose to its strongest level in five months against the euro ahead of the Bank of Englands interest rate decision on Thursday. The market widely expects the Bank of England to keep interest rates unchanged. Lee Hardman of Mitsubishi UFJ Financial Group stated in a report that recent data showing a strengthening UK economy has prompted market participants to postpone their expectations for the next rate cut. "In the absence of immediate triggers for further rate cuts, the Bank of England is likely to remain cautious about further rate cuts at the beginning of this year."On February 4th, Innovent Biologics announced that in 2025, the company achieved total product revenue of approximately RMB 11.9 billion, maintaining a strong growth momentum of approximately 45% year-on-year. In the fourth quarter of 2025, the company achieved total product revenue of approximately RMB 3.3 billion, representing a year-on-year increase of over 60%.February 4th - Holger Schmieding of Berenberg Bank stated in a report that the European Central Bank (ECB) may raise key interest rates starting in mid-2027, with economic growth this year expected to be slightly above the long-term trend of 1.2%. Following projected growth of 1.3% this year, Eurozone economic growth is expected to accelerate to a cyclical peak of 1.5% in 2027, primarily driven by the gradual effects of German fiscal stimulus measures. This will boost German business and consumer confidence and, to a lesser extent, benefit some of its neighboring countries. Against this backdrop, the ECB could raise key interest rates to a neutral level of approximately 3% by early 2028, allowing economic growth to fall back to near its trend rate in 2028.The US January ADP employment figures will be released as scheduled tonight at 9:15 PM, providing the market with the latest clues about the US job market. This data is collected and released by the private US agency ADP. Due to the previous brief government shutdown, the release dates for non-farm payrolls, initial jobless claims, and job openings data were pending. The US Department of Labor, responsible for releasing these data, fully resumed normal operations on February 4th and will reschedule the release times.

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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