EUR/USD 1.16124
-0.015%
Gold 4429.48
-0.119%
Oil 90.080
0.727%
USD/JPY 156.212
-0.014%
GBP/USD 1.35155
-0.021%
GBP/JPY 211.133
-0.035%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The destroyer "Kang Gon" has officially entered service with the North Korean Navy.September 7th - An incident occurred at a gubernatorial campaign rally in Ohio, USA, on September 6th local time. According to a statement released by the campaign team of Democratic candidate Amy Acton, during the rally, an armed man "suddenly lunged" at Acton, knocking several people to the ground and injuring several.September 7th - According to Nikkei, Toyota Motor Corporation aims to increase its operating profit (excluding new car sales, such as software updates and vehicle leasing) by approximately 40% to 3 trillion yen (about US$19.2 billion) by fiscal year 2030. The Japanese automaker hopes to move away from its current business model, which is heavily reliant on new car sales, by generating profits from its existing 150 million Toyota vehicles worldwide.Conflict Status 1. The Iranian Revolutionary Guard claims to have struck a US aircraft carrier and destroyer. 2. Israeli attacks in southern Lebanon have resulted in multiple casualties. 3. Clashes between Yemeni government forces and Houthi rebels have left at least 117 people dead. Strait of Hormuz 1. The Iranian Revolutionary Guard released video footage of its actions against vessels violating regulations, claiming that the US escort was a complete lie. 2. Iran says it will declare the Strait of Hormuz a "no-go zone" in the coming days. 3. Secretary of Irans Supreme National Security Council: The navigational route map for the Strait of Hormuz agreed upon with Oman will be signed in the coming days. 4. Secretary of Irans Supreme National Security Council: Iran will only commit to keeping the Strait of Hormuz open if the US ceases its threats or attacks. 5. UK Maritime Trade Operations Office: 59 vessels passed through the Strait of Hormuz in the past 48 hours. Other Matters 1. Iranian military: Has demonstrated a new mode of resistance and will not surrender to the US. 2. Lebanese President: Israels attacks have exceeded the scope of the ceasefire agreement and the framework agreement for national institutions. 3. Iranian Parliament Speaker: Any future actions targeting Iranian interests and security will be met with a "faster, fiercer, and more painful" response. 4. The UAE, Saudi Arabia, Qatar, and eight other countries issued a joint statement condemning Israels statements regarding the expulsion of Palestinians from the Gaza Strip. 5. Iranian Foreign Ministry: The US waged war but made the whole world pay the price. 6. Iran will raise gasoline prices for heavy users.September 7th - Iranian Foreign Ministry Spokesperson Baghae stated: "The Strait of Hormuz was completely unobstructed until February 28th, when the US and Israel invaded Iran. Washington launched an illegal and barbaric war, disrupting normal commercial shipping; oil tankers stopped sailing, trade was interrupted, and energy prices soared. The US started the war, yet expects the whole world to pay for it, while portraying Iran as the instigator of this chaos. This is utterly absurd."

S&P 500 Pulls Back As Big Tech Stocks Retreat

Cory Russell

Oct 27, 2022 16:28



The post-market session saw Meta Stock test multi-year lows.


The major tech names caused the S&P 500 to lose momentum and fall towards the support at 3835 after reaching highs near the resistance at 3885.


Following poor earnings results that were announced yesterday after the market closed, Alphabet was down 9% and Microsoft was down 7%.


After falling short of analyst expectations and posting an extra $766 million charge on the purchase of two new U.S. presidential aircraft, Boeing saw its share price decline by 8%.


The poor results from the top technology giants outweighed the benefits of reduced Treasury rates and a weaker US currency. As traders gambled that the Fed may be obliged to be less hawkish, the yield on 10-year Treasuries tried to settle down below the 4.00% mark.


It should be emphasized that the Bank of Canada previously increased the rate by 50 basis points, against the 75 basis points predicted by analysts, after determining that aggressive rate rises were placing too much pressure on the economy. The world markets benefited somewhat from this action.


Energy equities including Hess, Halliburton, ConocoPhillips, and others were climbing on a robust recovery in the oil markets as top tech firms came under pressure.


Traders focused on the quarterly report from Meta during the post-market session. Meta announced profits of $1.64 per share and sales of $27.71 billion, exceeding analyst expectations for revenue but falling short of them for profitability. The business said that although average pricing per ad fell by 18%, ad impressions rose by 17% year over year. On an annualized basis, revenue dropped by 4%. The news was unpopular with traders, and Meta is down 12% in the after-market session. The outcomes of Meta might significantly depress market sentiment tomorrow.


Ford reported a loss of $0.21 per share and sales of $39.4 billion. The $2.7 billion non-cash impairment of Ford's investment in Argo AI, which was creating L4 advanced driver assistance systems, was what caused the loss. Supply problems and higher-than-expected supplier payments also had an influence on Ford's financial performance. In the session after the market close, the stock fell by nearly 1%.

Suggestion