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On December 18th, Hozon New Energy, the parent company of Nezha Auto, issued a public announcement on December 2nd seeking a management trustee. The requirements for the entrusted management include restoring the sales network, taking full responsibility for the management of the entire vehicle sales channel, revitalizing the existing dealer network, and opening up new sales channels; organizing and carrying out various tasks related to the restart and operation of after-sales service, etc. On December 18th, the administrator of its parent company, Hozon New Energy, released the "Announcement of Hozon New Energy Automobile Co., Ltd. Regarding the Results of the Public Recruitment of Management Trustee," announcing that one interested institution has become the management trustee.Polish Prime Minister: Polands independence will be threatened if Ukraine is forced to surrender.December 18th - According to an analysis by IFR, a Reuters subsidiary, the Bank of England cut interest rates by 25 basis points as expected, a move already fully priced in by the market. The vote was 5-4, in line with market expectations but still surprising, as recent data (especially inflation data) had anticipated a more significant shift in the Bank of Englands hawkish stance. The fact that Bank of England officials did not adjust their position is itself somewhat hawkish and raises questions about the timing of the next rate cut. The market is divided on whether a rate cut will occur in March or April next year, with the probability of a cut in either month slightly below 50%. The Bank of Englands statement also confirms this, noting that "it will be more difficult to judge whether there will be further easing of monetary policy in the future."December 18th – Jeremy Bartstone-Carr, European strategist at Raymond James Investment Services, said: “Today, the Bank of England’s decision to cut the benchmark interest rate by another 0.25 percentage points to 3.75% was not surprising. While the Monetary Policy Committee is responsible for setting the UK’s benchmark interest rate based on the future economic outlook, this rate cut comes after the Chancellor’s budget proposal was confirmed, the economic slowdown and lower-than-expected inflation data became clearer. All of this means that previous arguments against easing monetary policy are increasingly untenable. Today’s rate cut is unlikely to be the last, and the accompanying statement confirms this, providing encouragement to businesses and further relief to households struggling with the ongoing cost of living crisis.”New York gold futures fell below $4,350 per ounce, down 0.55% on the day.

S&P 500 Climbed Above The 4000 Level

Alice Wang

Nov 15, 2022 17:03


S&P 500 Kicks Off The Week Strongly

Although the dollar is stronger and Treasury yields are increasing, the S&P 500 is still striving to stabilize above the 4000 mark as robust demand for stocks persists. The technologically significant NASDAQ Composite rose above the 11,300 mark.


In contrast to analyst expectations of 5.3%, consumer inflation expectations climbed from 5.4% in September to 5.9% in October. It's interesting that the market dynamics were unaffected by this report.


Bulls have also disregarded a New York Times article regarding Amazon's intention to fire 10,000 employees. Today's trading session saw a roughly 1% fall in the price of Amazon stock.


Despite REITs being under pressure from rising Treasury yields, the most of market categories have been heading upward today.


Market support was further increased by remarks made by Fed Vice Chair Lael Brainard, who suggested that it might be reasonable to slow the rate of rate increases.


From a broad perspective, traders wager that the Fed will slow the tempo of its rate increases and may even change its opinion on the level of interest rates that is "sufficiently restrictive."


The primary force behind market movement is the dynamics of Fed policy expectations. After the recent rally, traders are not rushing to book profits because they are preparing for a less hawkish Fed.

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