Skip to content Skip to footer

S&P 500 Falls Along With Oil Ahead of FOMC Minutes & U.S. Sanctions Have Their Eye on Putin’s Children

Contents

S&P 500 falls to 10-day low, ahead of FOMC minutes

The S&P 500 fell to its lowest level in over ten days on Wednesday, as traders were preparing for the release of the latest FOMC minutes.

Following last month’s rate hike, today’s minutes will lift the veil on the Fed’s decision to pull the trigger, and its expectations for further hikes in the further.

💡 Hints towards a recession
Traders are betting against the U.S. economy from statements hinting at a continuous downfall of consumer stocks. Surging prices are expected to impact the economy and more Fed hikes are expected to slow things further down even more

Markets are also hoping to get more of an insight into the Fed’s current views on inflation, in addition to the current war between Russia and Ukraine.

Gold prices were somewhat muted during the session, with GBPUSD also consolidating.

As of writing this, the S&P 500 is trading 0.74% lower.

Oil prices slip below $100, following stockpiles data

Oil prices fell below the $100 on Wednesday, as data from the Energy Information Administration showed that stockpiles had risen.

Figures from the EIA reported that Crude inventories

has increased by 2.4 million barrels last week, versus expectations for a drawdown of 2.05 million.


source: tradingeconomics.com

Whilst crude stocks rose, gasoline inventories declined, falling by 2.041 million barrels during the same period.

This data comes as the International Energy Agency (IEA), said it will release 120 million barrels from strategic reserves, in addition to the 60 million already committed by the United States.

WTI crude fell to a low of $97 per barrel, which is its lowest point since March 17th.

U.S. applies further sanctions to Russia, including on Putin’s children

U.S. President Joe Biden today confirmed further sanctions on Russia, following reported civilian slayings in Ukraine earlier this week.

The new sanctions will impact two major Russian banks, Sberbank, which holds close to a third of Russia’s total banking assets, and Alfabank.

Sanctions also were placed on two of Russian President Vladimir Putin’s daughters, who are said to live in Russia.

Speaking today, Biden said that “I made clear that Russia would pay a severe and immediate price for its atrocities in Bucha”.

A statement from the White House that followed insisted that, “We believe that many of Putin’s assets are hidden with family members, and that’s why we’re targeting them.”

This follows yesterday’s announcement from the EU which banned imports of Russian coal.

 “You need to know very well when to move away, or give up the loss, and not allow the anxiety to trick you into trying again.”

–Warren Buffett.

Eliman Dambell

Senior Market Analyst

 

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 4th Floor Harbour Place 103 South Church St, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

TVM Global Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.
Website: www.tvmgloballtd.com

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.
Website: www.tradeview.eu

Tradeview Financial Markets S.A.C.

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.
Website: www.tradeviewlatam.com