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rssAfter extensive research UBS came to the conclusion that S&P 500 may go up or down from here (JOKERS )
US major indices close lower on the day and also lower for the week
The major US indices are ending the session lower with the NASDAQ leading the way. For the week, the Dow industrial average is down for the fourth week in a row while the NASDAQ and S&P are down for the third week in the last four.
- The S&P is closing 10% from it’s all time high
- The Nasdaq is closing 18% from it’s all time high.
- The Dow was down -540 points before rebounding and closing down only -179 points at the close.
The final numbers for the week are showing:
- Dow -179.88 points or -0.53% at 33614.80.
- S&P -34.62 points or -0.79% at 4328.88
- Nasdaq -224.49 points or -1.66% at 13313.45
- Russell 2000 -31.50 points or -1.55% at 2000.89
For the week,
- Dow fell -1.30%
- S&P fell -1.28%
- Nasdaq fell -2.78%
- Russell 2000 fell -1.90%
Thought For A Day
European stocks close sharply lower today. A horrible week for the major indices as well.
The major European indices are closing the day at sharply lower. For the week, the losses are shocking as investors get out of Europe.
A look at the closing levels for the day shows:
- German DAX, -4.41%
- France’s CAC, -4.97%
- UK’s FTSE 100, -3.48%
- Spain’s Ibex, -3.63%
- Italy’s FTSE MIB -6.24%
For the trading week, 3 of the major indices lost 10% or more in this week alone:
- German DAX, -10.11%
- France’s CAC, -10.23%
- UK’s FTSE 100, -6.44%
- Spain’s Ibex, -9.02%
- Italy’s FTSE MIB -12.63%
Looking at the German DAX, the price traded to the lowest level since December 2020, and in the process has moved below the 38.2% retracement of the move up from the 2020 low to the high seen in 2021. That level comes in at 13221. The price closed at 13094.54.
Next week, moving back above that 38.2% retracement is a first target to get to and through if the buyers are to show some life.
UK Times reports that Ukriane’s Zelensky survives three assassination attempts in days
UK Times says:
- President Zelensky has survived at least three assassination attempts in the past week, The Times has learnt.
- Two different outfits have been sent to kill the Ukrainian president — mercenaries of the Kremlin-backed Wagner group and Chechen special forces. Both have been thwarted by anti-war elements within Russia’s Federal Security Service (FSB).
NO BUYERS: Russian flagship Urals crude plunges to a fresh record large discount of **minus $22.7-a-barrel** to benchmark Dated Brent. Even at such a huge discount, oil trader Trafigura found no bidders |
The remains of a Russian T-90A MBT
NATO has warned shipping of the risk of mines in the Black Sea
On Wednesday a missile struck a commercial vessel – four strikes on ships have been reported.
Ukrainian ports have been shut for over a week now.
NATO:
- “A large number of navigation warnings have been issued, covering a number of warning areas, including mine danger areas. Shipping is encouraged to stay well informed about these and keep well clear of the areas as well as warships and military crafts”
Thought For A Day
