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Russia claims that the military declarations of the pro-Ukrainian "Volunteer Union" are becoming increasingly dangerous.A spokesperson for the Russian Foreign Ministry stated that Western troops and military facilities stationed in Ukraine will be considered legitimate operational targets.A spokesperson for the Russian Foreign Ministry stated that the deployment of Western troops and military facilities in Ukraine would be considered an act of intervention that threatens security.January 8th - British businesses expect a slight slowdown in wage growth and a slower pace of price increases over the next 12 months, a welcome sign for Bank of England officials who have been wary of overly high expectations. In the average survey for the fourth quarter, respondents expected wage growth of 3.7%, down 0.1 percentage points from the three months to November. Meanwhile, businesses expected their own price increases of 3.6%, also down 0.1 percentage points from the previous period. Bank of England policymakers had previously worried that wage and price expectations would remain high after inflation surged again to nearly double the 2% target last year. However, price pressures have eased faster than the Bank expected in recent months, and measures in the budget are expected to bring inflation down to near 2% by spring. A Bank of England survey of chief financial officers showed that businesses cut 0.4% of their workforce last year. The number of employees rose 0.5% year-on-year in December, recovering from a 1.8% drop in November. However, businesses still expect job cuts over the next 12 months, forecasting a further decline of 0.4% – the worst reading since 2020.January 8th - Storage and mass storage companies were the best-performing group in the S&P 500 last year. This sector has surged as massive investments in AI infrastructure have permeated some traditionally stable areas of the tech industry. Led by SanDisk, Western Digital, Seagate Technology, and Micron Technology, this group remains among the top performers in the index at the start of 2026. SanDisk rose 16% on the first trading day of the year, followed by a 28% surge on Tuesday. The stock rose 1.1% on Wednesday, bringing its year-to-date gain to 49%. Meanwhile, Western Digital, Seagate, and Micron all recorded double-digit percentage gains at the start of 2026, although all three stocks declined on Wednesday. Peter Andersen, chief investment officer at Andersen Capital Management, said the recent strong momentum is visually justified given the AI data center construction narrative, but he is increasingly concerned that the market is over-extrapolating future demand and underestimating historical cyclicality, as well as the risks of overcapacity and price pressures. This rally may be unsustainable in the short term. For example, SanDisk and Micron both have 14-day Relative Strength Index (RSI) values above 70, which some technical analysts consider an overbought signal for the stocks.

Non-Farm Payrolls Print at +428k vs. +391k Expected, With Unemployment at 3.6 Percent

Jimmy Khan

May 09, 2022 10:49


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The stock market is perhaps the greater issue on many traders' minds this morning. After all, it's been rather dramatic this week, and one of the reasons for the high level of curiosity is the possibility of a huge change.


And, so far, that pattern has continued apace, even through this week's rate boost of 50 basis points.


However, trends do not always price in straight lines, and when a market is over or underweight in one direction too much, a counter-trend move may emerge, as we witnessed surrounding the Fed on Wednesday. However, to the displeasure of bulls, the move was promptly priced-out the next day, raising the risk of an even deeper break.


The S&P 500 is now trading at a major region of support, and the two-week range is impressive.

THE NASDAQ 100

The Nasdaq 100 is a potentially more appealing negative vehicle. High-beta tech stocks typically worsen the performance of the S&P 500's blue chips, which may operate on both sides of the equation, as we witnessed on the way up last year and again this year.


However, as recent events have unraveled, the difference in performance has been noticeable. While the S&P 500 remains above important support levels such as the psychological level of 4000, the Nasdaq 100 has already broken through most of that earlier support structure. Price is still hovering around the Monday low of 12,710. Yesterday, that level was tested and maintained — but sellers are now pressing a third test, and the third test may not be pleasant.

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