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EU Transport Commissioner: There is currently no need to intervene in peoples lifestyles, work, or travel.EU Transport Commissioner: There are currently no indications of large-scale flight cancellations in the coming weeks or months.On April 21, Alexander Borodin, a spokesman for the Ukrainian Third Army Corps, stated that Ukrainian troops are currently holding their positions in the Nadia, Novoegorovka, and Grekovka areas of Luhansk Oblast. He also stated that the corps had denied similar claims on April 1.April 21 – According to sources, the Bank of Japan (BOJ) is likely to keep interest rates unchanged next week due to the uncertainty surrounding the Iran war. However, officials remain determined to raise borrowing costs in the near future. Given the still-accommodative financial environment, the bank is likely to maintain its stance that it must continue to raise the benchmark interest rate as long as conditions permit, even if the April 28 decision kept the overnight rate at 0.75%. These sources indicated that this increases the likelihood of action in June, provided the economic situation remains stable. Some officials still favor raising rates at the upcoming meeting, as they anticipate geopolitical shocks will push up prices. According to another report earlier this month, the BOJ is also considering a significant upward revision of its inflation forecast at this meeting. These officials added that they will continue to monitor the US-Iran conflict until the very last moment before making a final policy decision.EU Transport Commissioner: Every euro spent must provide immediate relief while also enhancing long-term resilience.

S&P 500 Retreats As Meta Nosedives 24%

Cory Russell

Oct 28, 2022 15:35

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The Tech Sector Is Continued Weak

The S&P 500 dropped as tech stocks kept falling approaching the 3805 support level. A dismal earnings report from Meta yesterday added to the strain on the IT sector's market mood. The Nasdaq, which has a strong tech component, fell 1.6% during today's trade.


Treasury rates kept falling, and the yield on 10-year Treasuries finally dropped below the crucial 4.00% mark. However, as traders concentrated on the sell-off in tech companies, lower Treasury rates did not enough help the S&P 500.


Investors should be aware that the S&P 500's recent good performance was mostly driven by top tech firms like Meta. Bulls of the S&P 500 should be unhappy with the latest market sell-off. Due to the market's increased concentration, it is unlikely that the S&P 500 will see sustained upward momentum as long as mega sized companies are under pressure.


Today's top gainer was Caterpillar, whose shares increased 8% as the company's profits and sales handily above analyst expectations.


The publication of Amazon's third-quarter report has caused the stock to decline by 19% in the post-market session, and it seems that the S&P 500 may face more pressure tomorrow. According to GAAP, Amazon reported sales of $127.1 billion and profits per share of $0.28.


Although the company's GAAP profits exceeded analyst expectations, they also included a pre-tax valuation gain of $1.1 billion from the investment in Rivian's common shares. According to the corporation, fourth-quarter sales will be between $140 billion and $148 billion, up 2-8% over the same period in 2021.


Amazon anticipates reporting operating income of $0 to $4.0 billion for the fourth quarter. The big sell-off in the post-market session is mostly caused by the inadequate guidance.


Traders should be aware that Apple will also report its earnings today, and those numbers might materially affect how the S&P 500 behaves.

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