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March 16 - According to a report by Irans Fars News Agency on the evening of March 15, a spokesperson for the Iranian Islamic Revolutionary Guard Corps stated that most of the missiles currently being launched by Iran were "produced 10 years ago," and many missiles produced by Iran after the "12-Day War" in June last year "have not yet been used," and many of Irans missile arsenals "remain untouched."U.S. Energy Secretary Wright: Prices today are still far below those during the Biden administration, when they were asking Iran for favors, haggling, and even bribing Iran to “perform better.”Canadian Prime Minister Carney: I have arrived in London, England. The United Kingdom is one of Canadas oldest and most reliable partners.According to Irans Tasnim News Agency, Iranian President Pezehizian spoke by phone with French President Macron to discuss regional developments.March 16th - A Financial Times article points out that this week will be a "super central bank week." While the interest rate decisions of these central banks are not expected to bring any surprises, the policy guidance accompanying these decisions will be closely watched given the ongoing conflict in the Middle East. The four major central banks – the Federal Reserve, the European Central Bank, the Bank of England, and the Bank of Japan – will announce their decisions one after another on Thursday Beijing time. In addition, interest rate setters from Australia, Brazil, China, Canada, Indonesia, Sweden, and Switzerland will also meet this week. With the exception of the Reserve Bank of Australia, the other central banks are likely to keep interest rates unchanged. However, the war in Iran has increased the likelihood of a rate hike later this year. The interest rate market has responded hawkishly to the impending energy price shock; expectations for rate cuts by the Federal Reserve and the Bank of England have been erased, replaced by the possibility of a rate hike by the latter. Expectations for a rate hike by the European Central Bank this year have also increased further. Since the start of the war, the Bank of Japans interest rate path has remained relatively unchanged.

S&P 500 Is Under Pressure As Tech Stocks Are Moving Lower

Cory Russell

Nov 30, 2022 15:30

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Lower S&P 500 Settled The Assistance At 3960

S&P 500 fell toward the 3950 mark as pressure on tech firms persisted. The heavily weighted NASDAQ Composite in the technology sector is down 0.8% today.


In light of news that iPhone Pro shipments may be fewer than anticipated as a result of protests in China, Apple is down 2%. Additionally under pressure, it appears that traders are worried about Amazon's fourth-quarter results.


Growing Treasury yields are detrimental to growth stocks. The 10-year Treasury yield is attempting to stabilize above the 3.75% mark. It will advance towards the 3.80% mark if this attempt is successful, which will be bearish for the S&P 500 and NASDAQ Composite.


Energy stock prices are rising as WTI oil prices have risen beyond $78 per barrel. Halliburton, APA Corporation, and Schlumberger are driving the recovery.


From a broad perspective, if pressure on top tech stocks persists, the S&P 500 will be unable to build long-term upward momentum. Given that tech stocks are sensitive to fluctuations in Treasury yields, traders should keep an eye on movements in the Treasury market.


The yield on 10-year Treasuries appears to have found support in the range of 3.65% to 3.70% at this time, and traders must keep an eye on whether it can gain traction in the upcoming trading sessions.

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