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On September 8th, Iran unveiled a new missile on the 7th local time. Iran stated that the debut of the ballistic missile, named "Qassem Bashir," is a milestone in the countrys defense strategy. This missile boasts a longer range and higher accuracy, symbolizing Irans shift "from passive deterrence to active deterrence." Iran claims that the "Qassem Bashir" missile uses solid fuel, electro-optical guidance, and a half-ton warhead, sending a clear message to adversaries: Iran is no longer merely reacting passively, but actively defending itself.Rosatom: Off-site power supply to the Zaporizhzhia nuclear power plant has been restored via the Ferosplavna transmission line.September 8th - According to sources, Deutsche Telekom, Orange, Vodafone, and Telefonica are in preliminary discussions to form an alliance to jointly bid for EU satellite spectrum and provide "satellite direct-connect mobile" services, competing with Elon Musks Starlink. No final decision has been made yet. The EU is considering new rules for 2GHz satellite spectrum. After existing licenses expire in 2027, approximately one-third of the spectrum will be reserved for domestic operators controlled by European companies to enhance Europes independent satellite communication capabilities; another third is intended for sovereign communication services provided by the European IRIS² satellite constellation; and the remaining third will be open to international companies for bidding. Starlink currently provides satellite broadband in most parts of Europe and collaborates with companies like Deutsche Telekom to develop direct-connect services, but it does not yet have the right to independently utilize relevant EU spectrum to provide such services.According to AXIOS: Ukrainian President Zelensky said on Monday that the United States is exploring whether Ukraine and Russia can take steps to de-escalate the war during the winter, while restarting negotiations to reach a broader peace agreement.September 8th - Downing Street announced that the British Prime Minister spoke by phone with US President Donald Trump this afternoon local time. The two discussed the economy, Ukraine, and the Middle East. The Prime Minister congratulated Trump on the latest US jobs data and noted positive signs of growth in the British economy. He stated that the government is working to improve public perception of the UK, and while progress has been made, more work remains to be done. On Ukraine, both leaders agreed to continue pushing for a ceasefire to avoid further casualties; the Prime Minister reiterated his support for Ukraine and the recent US-led peace negotiations. On the Middle East, the Prime Minister stated that the UK is committed to promoting regional peace and security and emphasized the importance of implementing the two-state solution, reopening the Strait of Hormuz, and ensuring that Iran can never acquire nuclear weapons.

S&P 500 Moves Towards 4000 As Risk Appetite Grows

Cory Russell

Nov 14, 2022 16:40

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Advances in stock prices ahead of the weekend

As traders opted to take some profits off the table, the S&P 500 tried to settle above 3990 but lost momentum and pulled back towards the 3970 level. The NASDAQ Composite, which is heavily weighted toward technology stocks, increased by about 1.5%.


Given that consumer spending is slowing down, the Fed may become less hawkish, it appears that the dismal Consumer Sentiment report gave markets extra support.


Stocks of basic commodities and energy were rising today as the recovery in commodity markets went on. In the energy sector, Occidental Petroleum, Phillips 66, and Devon Energy were among of the top gainers.


Tech stocks kept climbing, and Amazon finally reached the psychologically significant $100 milestone.


Following yesterday's decline, Treasury rates increased, but this increase was not substantial.


Additionally, a large basket of currencies came under intense pressure against the US dollar, which was positive for the S&P 500.


The rebound from yesterday's continuation is unexpected from a broad perspective. Given the size of yesterday's gains, some traders could have decided to lock in some profits before the weekend.


Tech companies, however, received substantial support during today's trading session, which showed that risk appetite grew.