EUR/USD 1.14136
-0.238%
Gold 4106.88
-1.393%
Oil 71.853
4.783%
USD/JPY 162.092
0.007%
GBP/USD 1.33582
-0.235%
GBP/JPY 216.532
-0.224%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Iranian Supreme Leaders advisor Rezaei: Friends who oppose the negotiations, please be patient; the Americans themselves will ruin these negotiations.Iranian Supreme Leaders advisor Rezaei: The United States is seeking to allow its warships to pass through the Strait of Hormuz.According to Irans Fars News Agency, Rezaei, an advisor to Irans Supreme Leader, said it is clear that the United States will cause the negotiations to fail.The Federal Reserve is considering revising anti-money laundering regulations for banks, requiring them to focus more resources on high-risk clients and business activities. The proposal will be open for public comment for 60 days.On July 8th, according to a statement released by the U.S. Treasury Departments Office of Foreign Assets Control on July 7th, the U.S. revoked a general license authorizing the sale of Iranian oil, allowing related final transactions to continue until midnight Eastern Time on July 17th. International oil prices rose in response. Iran has not yet responded. According to an anonymous U.S. official, initial indications suggest that "Iran recently fired on three merchant ships in the Strait of Hormuz," an action that is "completely unacceptable" and will have consequences. The U.S. official also stated that despite the escalating situation, U.S. negotiators are "still sincerely working towards a final agreement with Iran." U.S. Treasury Secretary Bessenter announced on June 22nd that, as part of the framework for U.S.-Iran negotiations, the U.S. Treasury Department issued a 60-day general license authorizing the production, delivery, and sale of Iranian oil. According to the announcement released that day by the U.S. Treasury Departments Office of Foreign Assets Control, transactions involving the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products, previously prohibited by multiple U.S. executive orders and regulations, have been exempted, with the exemption period ending on August 21, 2026.

S&P 500 (SPY) Rallies As Dollar Pulls Back From Highs

Skylar Shaw

Sep 29, 2022 14:24

微信截图_20220929141744.png

Stocks Rise Following a Drop

As traders raced to purchase oversold equities, the S&P 500 acquired significant upward momentum and surged near the 3700 mark.


The U.S. Dollar Index reached highs close to 114.50 before losing steam and falling down into the 113 level, giving stocks important support.


Additionally, Treasury yields have decreased. Ten-year Treasury yields decreased from 4.00% to 3.75%, while 2-year Treasury yields changed from 4.30% to 4.15%. Lower Treasury rates were another encouraging factor for markets.


Given that the S&P 500 was oversold, the wide nature of the bounce is not unexpected. Energy stock prices are well supported as WTI oil has reclaimed the $80 mark. In today's trading session, Marathon Petroleum, Hess, and Valero Energy are all up more than 4%.


Stocks of basic materials have increased as the price of commodities has generally increased. Leading gold producer Newmont increased by more than 3%, while Freeport-McMoRan, a producer of copper, increased by more than 2%.


Lecanemab, a medication for Alzheimer's, was shown to be effective in a late-stage experiment, which helped Biogen increase its share price by 38%. Today, shares of Eli Lilly, which makes a comparable medication, are up 8%.


From a broad perspective, traders will probably continue to pay attention to the movements of the US dollar and Treasury rates. The intricacies of demand for safe-haven assets are highlighted by demand for the US dollar. Stocks will get greater support if the US currency keeps falling.

Suggestion