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February 7th - U.S. Ambassador to the United Nations Mike Walz stated that the United States will pay part of the billions of dollars in arrears owed to the UN within weeks, while emphasizing the need for continued UN reform. This comes after UN Secretary-General António Guterres warned of the UNs financial situation, stating that the UN faces the risk of "imminent financial collapse" due to member states unpaid dues. In a telephone interview, Walz said the first payment would be seen soon, and while the final amount has not yet been determined, he believes it will be finalized within weeks.The China Earthquake Networks Center officially determined that a 3.2-magnitude earthquake occurred in Tengchong City, Baoshan City, Yunnan Province at 12:00 on February 7, with a focal depth of 10 kilometers.On February 7th, CNN reported that US President Trump claimed that renaming Pennsylvania Station in New York City as "Trump Station" was a proposal by Senate Majority Leader Chuck Schumer. Schumer quickly refuted this claim. "Schumer suggested to me that Pennsylvania Station be renamed Trump Station," Trump told reporters aboard Air Force One, adding that many people, including union members, Democrats, and Republicans, had made the suggestion, "but theres been no progress." Schumer immediately refuted Trumps claim, accusing him of lying about the details of their conversation. "Completely a lie," Schumer posted on social media platform X. "He knows it. Everyone knows it. Only one person can restart this project, and he can do it easily."February 7 – The World Health Organization (WHO) reported on February 6 that Bangladesh had one case of Nipah virus infection, with no other related cases identified. According to a WHO press release that day, the infected person is a woman aged 40 to 50 living in the Rajshahi district of Bangladesh. She developed fever and neurological symptoms on January 21 and was diagnosed with Nipah virus on January 29. Bangladeshi authorities notified the WHO on February 3. The woman had no recent travel history but had consumed raw date juice. Her 35 close contacts tested negative for Nipah virus.February 7th - US President Trump stated on the 6th that the US, Russia, and Ukraine held "very good" talks that day regarding resolving the Russia-Ukraine conflict. Answering reporters questions aboard Air Force One, Trump said, "We had very, very good talks with Russia and Ukraine today. Something might happen." However, he did not elaborate further. It is understood that the issue of Ukrainian territory and security guarantees remains the sticking point in the negotiations. The US and Ukraine recently discussed the possibility of reaching a Russia-Ukraine peace agreement in March, but this is proving very difficult, and the timetable may be delayed.

Stock Markets Continue to Pressure the Upside

Cory Russell

Aug 02, 2022 15:08

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Technical Analysis of the S&P 500

Due to the market noise that has continued throughout the trading day on Monday, the S&P 500 has slightly declined. In the end, I think this market will need to make a more significant choice given enough time. As it stands, we are getting close to the pivotal 200 day EMA, which normally indicates that we may encounter some longer-term resistance. Given this situation, I believe we have a chance to present, but for the time being we may want to take a little step back.


Right now, the 4200 level represents the true reward, and if we can break through it, the markets are quite likely to undergo a significant shift. Despite the fact that one of the governors said over the weekend that the market had gotten a little ahead of itself, they now feel that the Federal Reserve is preparing to ease its monetary policy. Markets may not always take the Federal Reserve's statements seriously since, unfortunately, they have completely lost all credibility over the last 13 years.

 

As a result, it is quite probable that the markets will attempt to rise in the future; nevertheless, you must pay special attention to the 10-year yield. It is presently declining very quickly, which has increased pressure on risk taking generally. Given this, it does make some sense that we would break out, but you need to have the bond market on your side rather than against it.

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