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On September 21st, Hong Kong SAR Financial Secretary Paul Chan Mo-po stated today (21st) that the Northern Metropolitan Area is a key vehicle for Hong Kongs industrial restructuring, enabling the coordinated development of the "finance + innovation and technology + trade" multi-engine. The Development and Operation Model Design Group, led by Chan, will hold its first meeting this month. He emphasized that the core of the Northern Metropolitan Area development work is "targeted and flexible." This means clearly tying the development of the Northern Metropolitan Area to the implementation of industrial development, with this as the goal of all work. The group will actively explore innovative, flexible, and feasible solutions across various aspects, including legal frameworks, administrative procedures, and financing options, to accelerate the promotion of the Northern Metropolitan Area and the influx of industry, thereby accelerating the realization of the Northern Metropolitan Areas development goals.According to Singapores Lianhe Zaobao on September 21st, the White House announced on September 20th that a new rule for H-1B visas, effective September 21st, will impose a $100,000 fee on each application, but will not apply to re-entry by existing visa holders. The report, citing Reuters, reported that White House spokeswoman Carolyn Levitt posted on social media platform X on the 20th: "This is not an annual fee, but a one-time fee that applies only to applications." Levitt also stated that H-1B visa holders currently abroad will not be charged the $100,000 fee upon re-entry. The White House claims the fee is intended to level the playing field for American workers, who are being displaced by low-wage foreign labor. The White House stated that the $100,000 fee could be waived in individual H-1B visa applications if it is in the national interest.On September 21st, US President Trump again called on European countries to "stop buying" Russian oil, claiming this would further pressure Putin to end the Russia-Ukraine conflict. In a dinner speech at Mount Vernon, Virginia, Trump stated, "European countries are still buying oil from Russia—that shouldnt be happening, right?" This marked his latest day of accusing European allies of energy procurement. Following a meeting with British Prime Minister Starmer on Thursday, Trump expressed his willingness to increase economic pressure on Moscow, but only if those he supports do not also buy Russian oil. Trump, on the spot, pressured US Ambassador to NATO Whitaker, "They have to stop buying Russian oil. Ambassador Whitaker wont allow this to continue for much longer." Faced with the stalemate in the Russia-Ukraine conflict, Trump reiterated his disappointment with Putin, emphasizing that "with just a little more tightening of oil price controls, the war will be over."On September 21st, Zhuhai was forecast to experience continued rainfall, with occasional heavy rain accompanied by brief periods of strong winds and thunderstorms, due to the northward movement of thunderstorm clouds from the sea. The Zhuhai Meteorological Observatory issued a city-wide yellow warning for heavy rain at 8:10 a.m. on September 21st. A yellow warning for thunderstorms and strong winds remains in effect. The Zhuhai Flood Control and Flood Prevention Headquarters has immediately activated a Level IV emergency response for flood control (rainstorm prevention). Please take precautions. Furthermore, considering the potential severe impact of Typhoon No. 18, "Halal," on Zhuhai, the Zhuhai Flood Control and Flood Prevention Headquarters has decided to activate a Level IV emergency response for wind prevention starting at 10:30 p.m. on September 20th. The Zhuhai Meteorological Observatory predicts that from the 21st to the 23rd, Zhuhai will be primarily affected by the typhoons outer periphery, resulting in sunny and hot weather with highs reaching 35°C. However, strong winds and heavy rain will occur from the night of the 23rd to the 25th.September 21st news: On the morning of September 21st, the Hong Kong Observatory issued a yellow rainstorm warning.

S&P 500 And Nasdaq Complete A Bumpy Session With Gains As Inflation Data Looms

Aria Thomas

May 11, 2022 10:14

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Tuesday's closing prices for the S&P 500 and Nasdaq were higher than those of the previous day, with large-cap growth stocks appreciating in the wake of the previous day's selloff as Treasury yields declined.


In tandem with yields, bank shares declined. The yield on benchmark 10-year notes fell from a three-year high to below 3 percent.


The Dow likewise closed lower, and the day's trading was bumpy, with key indexes fluctuating between gains and losses as investors anticipated the release of U.S. consumer price index and producer price index data on Wednesday and Thursday, respectively.


Investors will search for indications that inflation is at its high.


The recent market decline has been fueled by concerns that the U.S. Federal Reserve may need to act more aggressively to combat inflation. Numerous additional worries have added to the tension.


Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma, stated, "It's basically fear-based selling."


"It can't just be that the Fed will raise interest rates to combat inflation, because we've seen this before," he said. According to Dollarhide, investors have been concerned about everything from interest rates and inflation to the war in Ukraine, supply chain issues, and China's COVID-19 lockouts.


Apple Inc (NASDAQ:AAPL) shares increased by 1.6%, boosting the S&P 500 and Nasdaq the most.


The Dow Jones Industrial Average decreased 84.96 points, or 0.26 percent, to 32,160.74, while the S&P 500 rose 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite rose 114.42 points, or 0.98 percent, to 11,737.67.


Technology and growth stocks, whose valuations are primarily dependent on future cash flows, have been among the hardest affected during the recent selloff. The Nasdaq is down almost 25% so far this year.


The technology sector of the S&P 500 increased 1.6% on the day and led all S&P 500 sector advances. The S&P 500 growth index increased by 0.9%, while the S&P 500 value index declined by 0.4%.


Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated that the U.S. economy would encounter turbulence as a result of the Fed's attempts to reduce inflation that is more than three times its target, and that recent stock market volatility will not dissuade policymakers.


In a speech on Tuesday addressing excessive inflation, Vice President Joe Biden said he was considering lifting Trump-era tariffs on China as a means of reducing prices for goods in the United States.


Pfizer Inc (NYSE:PFE) shares jumped 1.7% after the company announced it will pay $11.6 billion to acquire Biohaven Pharmaceutical Holding Co. (NYSE:BHVN). Biohaven shares increased 68.4%.


Peloton Interactive (NASDAQ:PTON) fell 8.7 percent as the workout equipment manufacturer cautioned the business was "thinly financed" following a quarterly revenue decline of 23.6 percent.


The volume on U.S. exchanges was 15.45 billion shares, compared to the average of 12.55 billion shares for the previous 20 trading days.


On the NYSE, declining issues outnumbered advancing ones by a ratio of 1.36 to 1; on the Nasdaq, the ratio was 1.34 to 1.


The S&P 500 had one new 52-week high and sixty-three new lows, while the Nasdaq Composite recorded nineteen new highs and one thousand six hundred sixty-six new lows.

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