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The U.S. military stated that as of July 31, Central Command had altered the routes of 30 merchant ships, rendered two ships inoperable, and boarded and inspected two more.August 1st - According to the New York Times, Federal Reserve Chairman Warsh is reportedly considering reducing the number of the Feds regular interest rate decision meetings. This move could cause a major upheaval and mark the most significant change in the Feds operations in recent years. Currently, the Feds 12-member Federal Open Market Committee (FOMC) meets eight times a year to vote on whether to raise, lower, or maintain borrowing costs. According to four sources familiar with the matter, Warsh proposed adjusting the meeting frequency at this weeks Fed meeting. These sources also revealed that at this weeks meeting, Warsh discussed the legal basis for the minimum number of meetings the Fed must hold annually, and the timeline for such adjustments. Reportedly, Warsh requested that officials provide feedback to him, rather than having a comprehensive discussion of the meeting schedule at this weeks meeting.The Houthi rebels in Yemen: The blockade of Saudi Arabia will continue. The armed forces will intercept their ships wherever possible, as long as conditions permit.According to the New York Times, Federal Reserve Chairman Warsh is considering reducing the frequency of the Feds policy meetings.U.S. stocks closed higher on Friday, boosted by strong quarterly earnings from Amazon (AMZN.O). The tech giants robust earnings report bolstered investor confidence in artificial intelligence-related stocks, while Apple (AAPL.O) saw its shares decline after disappointing earnings. Amazons shares surged more than 15% after reporting its biggest quarterly revenue increase in over four years. Its earnings, along with a similar report from Microsoft on Wednesday, eased investor concerns about potential overspending on AI data centers. This month, concerns that massive investments in AI infrastructure might take too long to show results have shaken global markets and raised questions about the core companies of Wall Streets recent rally. "There were concerns that Amazons spending was just a moonshot risky investment, an irresponsible expenditure, and Amazon CEO Andrew Wim just dispelled those concerns," said Jake Dollarhide, CEO of Longbow Asset Management. However, Apple shares plunged 7.4% after the company warned that supply constraints would impact growth, exacerbating concerns that recent iPhone price increases would weaken consumer demand.

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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