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September 8th - The Exploration Company GmbH has raised $450 million to advance the development of Europes first reusable spacecraft and a new rocket engine, which the company says will be the regions largest rocket engine, making it a competitor to SpaceX. CEO Helen Hubie stated in an interview that the majority of the funding will go towards the Storm methane-oxygen engine, intended as Europes next-generation heavy-lift launch vehicle. She said the funding will enable the company to test Storm from the end of this year to 2028. The engine has been under development for three years. Hubie stated, "My strategy right now is to focus on the rocket engine because without the engine there is no rocket. Thats the most difficult and time-consuming part."British Foreign Secretary: Fully implementing the "two-state solution" is the guiding principle of this governments policy.Futures Market Summary | Tuesday, September 8th, CCTV News Highlights: 1. my countrys new service trade pattern is rapidly taking shape. 2. Li Qiang chaired the 21st thematic study session of the State Council. 3. Ding Xuexiang emphasized at the National Textbook Work Conference the need to accelerate the construction of a high-quality textbook system with Chinese characteristics, focusing on the fundamental task of cultivating morality and talent. 4. Han Zheng attended and addressed the opening ceremony of the 26th China International Fair for Investment and Trade. 5. my countrys foreign trade grew by 17.6% year-on-year in the first eight months, continuing its rapid growth trend. 6. Themed interviews, "Continuing the Long March Spirit and Striving for Rejuvenation—Reporters Retracing the Long March," were launched. 7. The 2026 China International Fair for Trade in Services (CIFTIS) will open tomorrow; all preparations are complete. 8. Investing in China. 9. Wang Xiangxi, former Party Secretary and Minister of the Ministry of Emergency Management, was expelled from the Party and dismissed from public office for serious violations of discipline and law. 10. The prosperity level of Chinas bulk commodity market improved in August. 11. The RMB Cross-border Payment System signed agreements with 11 foreign institutions. 12. my country standardizes payment terms management for automobile suppliers. 13. Three departments deploy measures to crack down on illegal activities such as forging preferential treatment certificates. 14. my countrys number of valid domestic invention patents reaches 5.667 million. 15. The State Administration for Market Regulation fully launches the "Reassuring Consumption" cultivation program. 16. my country launches a special campaign to expand insurance coverage for flexible employment personnel and other groups. 17. The "Green Bohai 2026" joint patrol and enforcement operation is launched today. 18. The Zhujiashan Tunnel of the Xian-Chongqing High-Speed Railway is completed today. 19. The Haidong Tunnel of the Yunnan Central Water Diversion Project is completed today. 20. The first phase of the Aoqin International Education (University) City is officially opened. 21. Canadas retaliatory tariffs against the United States officially take effect today. 22. Russia announces large-scale attacks on the Ukrainian capital and other areas. 23. The Houthi rebels in Yemen claim to have attacked multiple targets in Saudi Arabia. 24. Iran says it will retaliate if its energy assets are attacked by the United States. 25. Russia announces the closure of the German Consulate General in St. Petersburg and other institutions.European Commission President Ursula von der Leyen: The next tranche of €3.2 billion will help Ukraine better protect its airspace from Russian attacks.September 8th - US Treasury yields rose due to rising oil prices and increased likelihood of an interest rate hike next week following better-than-expected jobs data last week. Analysts at Danske Bank stated in a report that even without anticipating a rate hike next week, they believe the current pricing (with a near-equal probability of a rate hike and no change) is reasonable. However, Danske Bank still expects the Federal Reserve to raise rates twice, in December and March. Meanwhile, the US dollar weakened against a basket of currencies due to further strengthening of the yen.

S&P 500 Is Under Pressure As Tech Stocks Are Moving Lower

Cory Russell

Nov 30, 2022 15:30

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Lower S&P 500 Settled The Assistance At 3960

S&P 500 fell toward the 3950 mark as pressure on tech firms persisted. The heavily weighted NASDAQ Composite in the technology sector is down 0.8% today.


In light of news that iPhone Pro shipments may be fewer than anticipated as a result of protests in China, Apple is down 2%. Additionally under pressure, it appears that traders are worried about Amazon's fourth-quarter results.


Growing Treasury yields are detrimental to growth stocks. The 10-year Treasury yield is attempting to stabilize above the 3.75% mark. It will advance towards the 3.80% mark if this attempt is successful, which will be bearish for the S&P 500 and NASDAQ Composite.


Energy stock prices are rising as WTI oil prices have risen beyond $78 per barrel. Halliburton, APA Corporation, and Schlumberger are driving the recovery.


From a broad perspective, if pressure on top tech stocks persists, the S&P 500 will be unable to build long-term upward momentum. Given that tech stocks are sensitive to fluctuations in Treasury yields, traders should keep an eye on movements in the Treasury market.


The yield on 10-year Treasuries appears to have found support in the range of 3.65% to 3.70% at this time, and traders must keep an eye on whether it can gain traction in the upcoming trading sessions.