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On April 18th, a reporter from NewsNation asked Trump about his previous claim that almost all agreements had been reached with Iran, while Irans version differed. Trump replied that he was "just telling the truth." He stated, "They have to say something different because they also have to cater to other people." "I really didnt mean anything else, Im just doing what I think is right, Im just telling the truth." Trump added, "I think were in a very good position right now, and most importantly, Iran wont have nuclear weapons. You absolutely cannot let Iran have nuclear weapons, that comes above everything else."On April 18, French President Emmanuel Macron and British Prime Minister Keir Starmer hosted an international conference in Paris, France, on April 17, focusing on ending the current Middle East conflict through diplomatic means, reopening the Strait of Hormuz, and providing security guarantees for shipping through the strait once the situation stabilizes. Macron and Starmer stated that France and the UK will lead a defensive multinational operation to ensure the safety of shipping in the Strait of Hormuz when conditions permit, and preparatory meetings will be held in London next week. Italian Prime Minister Meloni said it is necessary to ensure the Strait of Hormuz is free of mines, and Italy is willing to provide naval support on a fully defensive basis. German Chancellor Merz stated that Germany will participate in planning discussions and welcomes the participation of the United States if possible.On April 18, Ding Xuexiang, Special Representative of President Xi Jinping, Member of the Standing Committee of the Political Bureau of the CPC Central Committee, and Vice Premier of the State Council, attended the groundbreaking ceremony for the fourth phase of the Renaissance Gas Field project in Turkmenistan from April 15 to 17. Ding emphasized that natural gas cooperation is the cornerstone of China-Turkmenistan relations, bringing tangible benefits to the people of both countries. Both sides should pay greater attention to proceeding from a strategic perspective and long-term interests, adhere to working together, accelerate the implementation of major projects, seize the opportunity of the cooperation window, expand the scale and scope of natural gas cooperation, and improve the quality and efficiency of energy cooperation. At the same time, they should further enhance cooperation in non-resource areas such as connectivity, trade and investment, agriculture, and the digital economy, cultivating new growth points. They should jointly promote China-Central Asia cooperation and work together with regional countries to seek common development and prosperity.On April 18th, Faraday Future (FF) announced on its official Weibo account that it has secured $45 million in new funding from a US institutional investor, marking the companys lowest-cost financing deal in recent years. As of April 12th, FF has shipped a total of 34 robots, with a target of over 1,000 units shipped by 2026. Furthermore, FF plans to hold its annual shareholder meeting on May 22nd to review a series of proposals aimed at supporting the companys global EAI (Expert Assistance) strategy and long-term growth.The European-Mediterranean Seismological Centre reports a 5.4-magnitude earthquake in the Hindu Kush region of Afghanistan.

S&P 500 (SPY) Dives Towards 3500 As Inflation Rate Exceeds Expectations

Cory Russell

Oct 14, 2022 17:31

S&P 500 Falls by 2% Prior Market Trading

Following the publication of inflation statistics, S&P 500 futures are touching new lows. In contrast to the expert consensus of 8.1%, the figures showed that the inflation rate decreased from 8.3% in August to 8.2% in September.


Analysts predicted that the core inflation rate would go to 6.5%, but it actually jumped from 6.3% in August to 6.6% in September.


In the meanwhile, according to the Initial Jobless Claims report, 228,000 Americans applied for unemployment benefits in a single week, much in line with expert expectations.


Treasury rates reached annual highs as traders gambled on aggressive rate rises from the Fed in response to inflation readings that were stronger than anticipated. The 10-year Treasury yield is now attempting to stabilize above the psychologically significant 4.00% level. In the event that this effort succeeds, it will pick up further upward momentum and rise towards 4.10%, which is negative for equities.


At the start of today's trading session, tech stocks are probably going to lose ground. Leading tech companies' shares are already down more than 2% in premarket trade, including Apple, Microsoft, Alphabet, Amazon, and Tesla.


Whether traders would go for safe-haven assets in the stock market today remains to be seen. Money will move into the U.S. dollar, which is already reaching new highs, in case the fear spreads. Commodities are negatively impacted by a strong dollar, thus equities with a focus on commodities are probably going to see significant pressure today.

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