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On April 7, Premier Li Qiang spoke by phone with Australian Prime Minister Barnes. Li Qiang pointed out that China-Australia economic and trade cooperation has strong endogenous driving forces and enormous potential in the long run. During the 15th Five-Year Plan period, China will adhere to the strategic focus of expanding domestic demand, vigorously boost consumption, significantly increase the residents consumption rate, and continuously unleash market demand. Chinas vast market will always be open to the world. China is willing to import more high-quality products from Australia, work with Australia to continuously expand and improve bilateral trade, support enterprises from both countries to cooperate according to market principles, and promote mutual benefit and win-win results. Both sides should accelerate the review and upgrading of the bilateral free trade agreement to provide better institutional guarantees for bilateral cooperation. There is great potential for China-Australia green cooperation. China is willing to strengthen complementary advantages with Australia, deepen cooperation in clean energy, new energy vehicles, energy storage, carbon reduction, and other fields, and jointly strengthen the driving force for green economic development.According to Hong Kong Stock Exchange documents, Beijing Tianxing Medical Co., Ltd. has passed the listing hearing of the Hong Kong Stock Exchange.European Commission: EU energy measures should not lead to inflation. The EU is developing a toolbox to lower energy prices.On April 7th, Neolix announced the launch of its AI assistant, NeoClaw, integrated into the top of its autonomous vehicle management app, "Neolix On-Time Delivery." Users can manage vehicles intelligently through dialogue and even perform real-world autonomous vehicle operation tasks. Currently, NeoClaw is available in select areas of Beijing and Qingdao, with plans to expand to more regions in the future.European Commission: The EU oil coordination group will meet on Wednesday, and the gas coordination group will meet on Thursday.

NASDAQ ‘Technical Bounce’ Fails to Overcome Rate Hike Driven Selling Pressure

Cory Russell

Aug 30, 2022 15:06

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Monday's mid-session lows for the tech-weighted NASDAQ Composite are being met with lower activity. Earlier in the session, the index tried to reach a one-month low before recovering more than half of that loss. Investors' concerns about the Federal Reserve's intention to keep increasing interest rates in its battle against inflation, even at the expense of an economic downturn, are feeding the selling pressure.


Oversold technical conditions, a slight decline in U.S. Treasury yields from a steep price earlier in the session, and a weaker U.S. Dollar are likely behind today's rebound rally.


The NASDAQ Composite is at 12058.12 at 18:20 GMT, down 83.49 or -0.69%. Trading prices for the Invesco QQQ Trust are $305.50, down $1.94 or -0.63%.


The Federal Reserve Chairman Jerome Powell's succinct and direct statements in Jackson Hole, Wyoming, on Friday seemed to put an end to optimism that the central bank would reverse its aggressive pace of rate rises in the coming months, which led to a significant decline in the technology-driven index.

Moving NASDAQ Composite Stocks

After exceeding expectations in the most recent quarter's top and bottom lines, Pinduoduo increased by 18%. The massive Chinese e-commerce company said its performance were aided by a rebound in customer confidence.


The price of Netflix's ad tier might range from $7 to $9 per month, according to a Bloomberg story, which has led to a 1.1% increase in the company's stock price.


Following the announcement that U.S. merchants on its site would need to validate their bank accounts or provide their login and password to fintech company Plaid, Etsy saw a 1.2% increase in its stock price.

The near future

As Friday's U.S. Non-Farm Payrolls data and the beginning of a lengthy U.S. holiday weekend approach, volume is very low. Volume may continue to decline as the majority of the main players are anticipated to begin taking a back seat, creating the prospect of very violent price fluctuations that have little bearing on the short-term makeup of the market.

Breaking News Lately: Suit Against Tesla Is a Class Action

According to the complaint, a Tesla Model 3 owner from California sued the electric car manufacturer in a proposed class action for automobiles halting abruptly for inexistent barriers, calling it a "frightening and hazardous nightmare."

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