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June 15th - It was learned today (June 15th) from the my country National Nuclear Corporation (CNNC) that Chinese scientists have achieved a key breakthrough in the field of stable isotope enrichment, successfully achieving for the first time the independent mass production of silicon-28 isotopes with an abundance exceeding 99.99%, with key product indicators reaching international advanced levels. This marks a substantial step forward for my country in building an independent, controllable, collaborative, and efficient stable isotope industry structure.On June 15th, in response to being summoned for talks by the State Administration for Market Regulation, Sams Club China stated, "Recently, we accepted the guidance and talks from the market supervision department. We fully acknowledge, deeply reflect upon, and sincerely accept the issues and rectification requirements pointed out by the regulatory department during the talks. We sincerely apologize for the inconvenience and trouble caused to our members." Sams Club China further stated, "Currently, the company has established a special rectification working group led by management, and immediately launched a comprehensive self-inspection and rectification campaign across all channels and the entire supply chain. We will strictly comply with relevant laws and regulations and regulatory requirements, comprehensively optimize food safety management and product quality control, strictly adhere to the bottom line of food safety, and improve the member experience. We will regularly report the rectification progress to the regulatory department and actively accept supervision from all sectors of society. We once again thank the regulatory department for its supervision and guidance, and thank our members for their trust and support."On June 15th, former Bank of Japan chief economist Seisaku Kameda stated on Monday that the US-Iran peace agreement is unlikely to change the Bank of Japans expectation of two interest rate hikes this year. With inflationary pressures intensifying, the Bank of Japan is expected to raise its short-term policy rate from 0.75% to 1% on Tuesday. Kameda stated that this would have been done in April had the Middle East war not broken out. He indicated that if the peace agreement facilitates the reopening of the Strait of Hormuz, it might alleviate some of the pressure on the Bank of Japan to raise interest rates faster than expected to curb inflation. "However, this will not change the Bank of Japans plan to normalize monetary policy by raising interest rates approximately twice a year, pushing up the still low real borrowing costs," Kameda said. He pointed out that after the June rate hike, the Bank of Japan is likely to raise rates again in October or December. Furthermore, Bank of Japan Governor Kazuo Ueda will miss the June meeting due to treatment for an infectious liver cyst in the hospital. Deputy Governor Shinichi Uchida will preside over the press conference on his behalf. Seisaku Kameda stated that Shinichi Uchida is expected to reiterate the Bank of Japans determination to continue raising interest rates, but given the continued uncertainty surrounding the situation in the Middle East, he will avoid giving a clear indication of the timing of the next rate hike.The China Earthquake Networks Center officially reported that a magnitude 3.0 earthquake occurred at 11:24 on June 15 in Linhe District, Bayannur City, Inner Mongolia (40.72 degrees north latitude, 107.35 degrees east longitude), with a focal depth of 10 kilometers.June 15 – Public consultation on Hong Kongs first Five-Year Plan began today (June 15). Secretary for Constitutional and Mainland Affairs, Tse Siu-wah, stated that the Hong Kong Five-Year Plan is of great importance and closely related to every citizen. He thanked Legislative Council members, Hong Kong deputies to the National Peoples Congress and the Chinese Peoples Political Consultative Conference, and industry representatives for their previous suggestions. The Hong Kong SAR government will hold several more consultation events to listen to opinions from all sectors and hopes for their active participation.

S&P 500 Pulls Back As Amazon And Alphabet Test New Lows

Alice Wang

Nov 02, 2022 16:35

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As traders get ready for a key Fed decision, stocks decline.


Today's JOLTs Job Openings data topped forecasts, which kept the S&P 500 under pressure. As prospects for a less aggressive Fed evaporate, strong employment market data is negative for markets.


Additionally, it seems that traders sought to lock in some gains before tomorrow's publication of the Fed Interest Rate Decision.


The S&P 500 was under a lot of stress today due to the share sales at Amazon and Alphabet, while the Nasdaq Composite was pushed close to the 10900 mark. Although Meta was able to recover from multi-year lows, it is still unclear whether the company will be able to sustainably increase its price momentum in the next trading sessions.


Stocks of basic materials and energy surged up at the same time as the commodities markets generally recovered. Freeport-McMoran, the world's largest copper producer, increased by nearly 4%, while Baker Hughes, a provider of oil services, increased by more than 3%.


Investors are expected to pay close attention to AMD earnings in the post-market session. The company's $5.57 billion in sales and $0.67 per share in profits fell short of analyst expectations in all categories. AMD anticipates reporting sales in the range of $5.2 billion and $5.8 billion for the fourth quarter. Despite the sales projection for the next quarter implying no increase, the stock was able to pick up positive momentum and climb beyond the $61 barrier.


After the business presented its quarterly report, which showed that net bookings for the previous twelve months were $7.4 billion, up 4% on an annual basis, the shares of Electronic Arts fell by 2% in the post-market session. Due to the strong U.S. dollar, the business said that it anticipated a negative FX effect of around $200 million.

Strong Resistance Awaited S&P 500 Near 3915

The S&P 500 retreated into the 3860 level after failing to hold above the support at 3915. In recent trading sessions, the resistance at 3915 was put to the test many times, demonstrating its durability. If the S&P 500 is able to hold above this point, it will pick up speed and proceed upward into the next resistance level at 3960. A rise over this point will allow for the testing of the 4000 level resistance.


To continue its drop, the S&P 500 has to close below the support around the 50 EMA at 3835 on the support side. 3805 is where the next support level is situated. S&P 500 will move in the direction of the next support at 3760 if it drops below this level.

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