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· Technical Forecast for S&P 500
The S&P 500 continues to rise but with resistance in the area and the market far from being in the clear, a decline is expected to unfold soon. The key right now is watching price action. The levels are there to turn the market lower but we need to see sellers step in and solidify those levels before turning aggressively bearish.
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· European stocks were lower Thursday morning, amid heightened political uncertainty in the U.K. and ongoing concerns over China’s cooling economy.
The pan-European Stoxx 600 was down around 0.6 percent during early morning deals, with most sectors and major bourses in negative territory.
· Asian stocks nudged higher on Thursday after see-sawing through a subdued session on concerns over China’s economic outlook, while an anti-climactic end to the latest chapter in the Brexit saga offered sterling a moment’s peace.
Fresh news was thin on the ground leaving MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS up a slight 0.2 percent. Japan's Nikkei .N225 was almost flat after dithering in both directions.
· China's
China’s Premier Li Keqiang took to the radio to promise increased government investment this year. The country’s central bank did its part by injecting more cash into the financial system, bringing the amount for the week to a massive 1.14 trillion yuan ($168.74 billion).
· Stoking some caution was news that a bipartisan group of U.S. lawmakers introduced bills on Wednesday that would ban the sale of U.S. chips or other components to Huawei Technologies Co Ltd HWT.UL or other Chinese telecommunications companies that violate U.S. sanctions or export control laws.
That came shortly before the Wall Street Journal reported federal prosecutors were investigating allegations that Huawei stole trade secrets from U.S. businesses.
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