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On September 18th, UBS economists said in a report that they expect the Bank of England to maintain interest rates and may hold off on cutting rates in November. The economists noted that Bank of England policymakers may prefer to hold off on cutting rates until they have clarity on the UKs fiscal plans and inflation trajectory. For 2026, they still expect three 25 basis point rate cuts, bringing the rate to 3% by July 2026.Novo Nordisk (NVO.N): Semaglutide can reduce the risk of myocardial infarction and stroke by 25%, and is associated with a 25% reduction in the overall risk of major adverse cardiovascular events such as myocardial infarction, stroke, hospitalization for unstable angina or heart failure, and death.Julius Baer analyst Carsten Menke stated in a research note on September 18th that despite recent weakness in gold, its outlook remains positive. Menke noted that given widespread market expectations for a Federal Reserve rate cut, the recent decline in gold prices resembles a classic "buy on the rumour, sell on the profit" trend. He noted that this market reaction is essentially short-term profit-taking, adding that such profit-taking is healthy and should not be mistaken for a shift in the fundamental backdrop. Julius Baer maintains a bullish (constructive) view on gold.Hyundai Motor: The goal is to achieve an operating profit margin of 7-8% by 2027 and 8-9% by 2030.Hyundai Motor: Due to US tariffs, it lowered its 2025 operating profit margin target to 6-7% from the previously announced 7-8%.

Stock Markets Continue to Put Up a Fight

Cory Russell

Jul 18, 2022 15:12

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Weekly Technical Analysis for the S&P 500

The S&P 500 has declined considerably over the last week, but it's important to remember that the previous three candlesticks have all been hammers, which does indicate that a balance or perhaps a breakout to show signs of life is very approaching. Having said that, I believe the market will, more often than not, exhibit a scenario in which there will be a brief rebound and maybe a bid to test the 4200 level. If we could break through the 4200 level, which has served as a big area of resistance as well, the general trend would alter.


On the other side, this market is likely to crash very severely if we reverse course and break down below the 3640 level and, therefore, the 200 day EMA. Given everything being equal, I think this market is a touch oversold, so a little rebound makes some sense. The market will likely continue to be choppy and noisy, and you should be concerned about the fact that we are almost certainly heading into a recession, despite what some people on Wall Street would have you believe. Keep in mind that we are about to enter the earnings season, so you need to pay close attention to pre-market volatility.


In the end, I believe fading rallies will continue to be effective, but we must wait for those rallies to take place in order to get some opportunity and a better risk-to-reward ratio.

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