EUR/USD 1.16126
0.042%
Gold 4339.63
0.196%
Oil 75.565
-0.318%
USD/JPY 160.340
-0.066%
GBP/USD 1.34300
0.030%
GBP/JPY 215.343
-0.034%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
June 17th - According to the China State Railway Group, a new train schedule will be implemented nationwide starting from 00:00 on July 1st, further improving transport capacity and efficiency. After the schedule adjustment, 12,174 scheduled passenger trains will be available nationwide, an increase of 106 trains compared to the current schedule. Utilizing the soon-to-be-opened Xian-Xian high-speed railway (Xian East to Shiyan East section), 58 high-speed trains will be scheduled to run from Xian East (Xian North) to Nanyang East, Hankou, Chongqing North, and other destinations, further strengthening connections between Northwest China and Central, South, and Southwest China, and shortening travel time.On June 17th, SK Hynix announced that it will eliminate all educational requirements and launch a rolling recruitment process for entry-level positions. With increasing competition in the AI semiconductor field, SK Hynix stated that it will now select talent based on actual work ability and growth potential, rather than solely on academic background. Previously, SK Hynixs job postings stipulated that "applicants must have at least a four-year bachelors degree." With the removal of this requirement, applicants can apply regardless of their educational background, as long as their work experience, job skills, and fit with the company culture meet the requirements of the position.International oil prices are under pressure as the situation in the Middle East continues to show signs of easing. A quick overview of the pre-market conversion prices of crude oil between domestic and international markets is provided in one chart.June 17th, Futures News: With further easing of US-Iran relations, crude oil prices may continue to decline. The fuel oil market is also facing bearish news and cost support, leading to cautious buying and selling sentiment among downstream traders. Risk aversion is rising, resulting in sporadic transactions driven by immediate demand. Refinery shipments are sluggish. It is expected that todays trading in slurry oil and wax oil will continue its narrow downward trend. There are currently no new contract guidelines for low-sulfur fuel oil, and negotiations are stalled at high levels. Local refineries high-sulfur fuel oil still has room for further decline.The U.S. military says it carried out a deadly strike in the eastern Pacific against a drug-trafficking vessel operated by a “terrorist organization.”

S&P 500 (SPY) Dives To 3635 As Initial Jobless Claims Decline

Steven Zhao

Sep 30, 2022 15:00

微信截图_20220930142928.png

Investor Fears Regarding a Hawkish Fed

The Initial Jobless Claims data, which was better than expected, has caused investors to react negatively, and the S&P 500 is down more than 2% during today's trading session.


The figures revealed that just 193,000 Americans sought for unemployment benefits in one week, far less than the expert prediction of 215,000. The Fed claims that the labor market is still too tight. The study supported the robustness of the labor market. The Fed's need to raise rates rapidly in order to reduce demand and fight inflation would hurt stocks.


Auto stocks were under pressure after CarMax's profits and sales fell short of analyst projections. The stock is down 23% so far in today's trading. Traders think that Tesla, General Motors, and Ford have all dropped by 5-6% as a result of the effect that rising lending rates have had on the market for cars.


It is hardly surprising that tech shares have fallen today as the market prepares for higher interest rates. AMD, NVIDIA, and Apple among those that suffered the most losses in this market segment today.


Despite the oil market's rebound, the current sell-off is pervasive, and even energy stocks are under pressure. Since the market views the Fed's actions as the biggest danger to stocks, any news that signals the Fed will keep raising interest rates quickly causes a sell-off.

S&P 500 Tests Support At 3635

The 3635 support level continues to be the S&P 500's target closing price. Even if the RSI is virtually in oversold zone, if the right triggers occur, there is still a chance for additional bearish momentum.


If the S&P 500 closes below 3635, it will go toward the next support level at 3600. The S&P 500 will go closer to support at 3580 if this level is properly challenged.


For the S&P 500 during an upswing, the previous support level at 3660 will serve as the initial resistance level. If the S&P 500 climbs once more over this level, it will move toward the next hurdle at 3700. If the price rises over 3700, the resistance level at 3725 may be challenged.

Suggestion