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U.S. House Speaker Boris Johnson: The House will approve legislation on Tuesday to end the brief government shutdown.February 3 - According to foreign media reports, the US government is preparing to issue a general license allowing companies to drill for oil in Venezuela, as part of the Trump administrations plan to ease sanctions and revitalize the countrys stagnant energy industry. Sources familiar with the matter revealed that the US Treasury Department could issue the license as early as this week. This move is a key step in attracting US-affiliated companies to participate and restoring Venezuelan crude oil production. Last week, the US issued another general license allowing companies to buy and sell Venezuelan crude oil. This license covers several downstream operations, including loading, exporting, transporting, and refining crude oil, but only if carried out by "a registered US entity."The United States plans to issue licenses to companies that can exploit Venezuelan oil.U.S. stock indexes extended their losses, with the Nasdaq down 1% and the S&P 500 down 0.48%.Walmart (WMT.N) shares rose on Tuesday, pushing its market capitalization past the $1 trillion mark for the first time, joining the ranks of companies typically represented by large tech giants. Year-to-date, the stock is up 12%, outperforming the S&P 500s 1.9% gain. Walmarts massive scale and supplier network allow it to maintain low prices and continue to capture market share across income levels. While maintaining its attractive value proposition, its online business is drawing in more high-income consumers seeking convenience. Recent investments in artificial intelligence have further boosted the stock price. Walmart is pushing to integrate AI into all aspects of its operations, currently using it to accelerate processes ranging from scheduling to supply chain management. Earlier this year, Walmart announced a partnership with Alphabet to offer an AI-enhanced shopping experience on Googles Gemini platform; more recently, it partnered with OpenAI to allow consumers to browse and purchase its products directly through ChatGPT. Last month, Walmart was included in the Nasdaq 100 index, highlighting investor confidence in its technological initiatives.

S&P 500 (SPY) Stays Close To Yearly Lows

Florala Chen

Oct 13, 2022 16:19

Traders Continue to Be Nervous Before the CPI Report


The S&P 500 is fluctuating between gains and losses as traders exercise caution ahead of tomorrow's publication of the CPI data.


The PPI data, which revealed a 0.4% month-over-month rise in producer prices in September, was the main topic of discussion among traders today. Producer prices increased by 8.5% on an annual basis as opposed to the expert estimate of 8.4%. The news gave the dollar some support, but it is obvious that traders are not prepared for significant changes before the crucial CPI data.


The price of cruise stocks rose sharply today. In today's trading session, Norwegian Cruise Line, Carnival Corporation, and Royal Caribbean Cruises are all up 8% to 8%. Recently, as traders attempted to gauge the strength of demand in the fourth quarter of this year, cruise stock prices have been very erratic.


Leading tech equities now exhibit varied dynamics. While Meta and NVIDIA are under pressure, Apple, Microsoft, Alphabet, and Amazon are making progress.


From a broad perspective, equities found some support close to their annual lows, but their short-term dynamics will be influenced by tomorrow's CPI data. The market will be greatly affected by inflation statistics because traders continue to fear that an overly active Fed could send the economy into a deep recession.

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