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On December 13th, it was reported that an EU official stated on the 12th that Ukraines accession to the EU before 2027 is "absolutely impossible." According to reports, a European diplomat said that Ukraines accession to the EU before 2027 is "extremely difficult," and it is unclear whether EU leaders support this plan. Hungarian Prime Minister Viktor Orbán stated on the 8th that the EUs admission of Ukraine would be tantamount to declaring war on Russia, and that the EU is preparing for war with 2030 as the target date.On December 13, Venezuelan President Maduro stated that the United States usual tactics of lying, coercion, extortion, and threats are "completely ineffective" and "will never work" against Venezuela, following the recent seizure of an oil tanker in waters near Venezuela and the announcement of new sanctions.On December 13th, two US officials stated that the UN-authorized international stabilization force in Gaza could be deployed as early as next month, but the method for disarming Hamas remains unclear. The force will not fight Hamas, and its size, composition, and rules of engagement are still being determined.On December 13, the National Trust for Historic Preservation, a U.S. heritage preservation organization, filed a lawsuit on December 12 against U.S. President Trump and several federal agencies, demanding a halt to the ongoing renovation project of the White House banquet hall and claiming the project is illegal. The trust issued a statement on December 12 announcing that it had filed the lawsuit in the U.S. District Court for the District of Columbia, seeking a halt to the White House banquet hall renovation project until it undergoes a comprehensive design review and public comment period, and receives congressional approval. The trust argues that the Trump administration, in rapidly advancing the White House banquet hall renovation project, failed to submit planning proposals for necessary review as required by law, and that the project, without congressional authorization, exceeds the presidents constitutional authority. The lawsuit names Trump, the National Park Service, the Department of the Interior, the General Services Administration, and the heads of these departments as defendants.On December 13th, the White House announced that U.S. Special Envoy for the Middle East, Viktor Witkov, will meet with Ukrainian President Volodymyr Zelensky and several European leaders in Berlin this weekend to advance the U.S.-proposed Russia-Ukraine peace plan by the end of the year. Analysts suggest this "urgent dispatch" highlights the U.S.s attempt to narrow its differences with Ukraine on the terms of the Russia-Ukraine peace plan before the end of the year. Witkov is scheduled to hold talks with officials from France, the UK, and Germany on December 14th and 15th, respectively.

S&P 500 Rebounds As Tech Stocks Rally

Skylar Shaw

Dec 30, 2022 15:35


Stocks Rise Following Yesterday's Sell

As tech companies resumed upward momentum, the S&P 500 rallied in the direction of the barrier at 3860. The NASDAQ Composite, which is heavily weighted toward technology, increased 2.6% today.


Tax-loss selling most certainly caused yesterday's decline. Because deals take longer to settle, December 28 was the last day for tax-loss harvesting. Speculative traders took advantage of the fact that tax-loss sellers were not present today to drive stock prices upward.


The Initial Jobless Claims data, which matched analyst expectations, may have given markets further boost.


The recovery today is widespread, and all market categories are heading upward. Tech companies, which are making gains as Treasury rates retreat from recent highs, are driving the recovery.


Tesla, which was able to escape its annual lows, is among the notable gainers. The price of Tesla shares has increased by more than 5% so far today. Ford and General Motors were able to develop significant upward momentum as well.


Interestingly, despite declines in the oil and natural gas markets, energy equities are also rising. The market is in a positive mindset, and traders are eager to purchase equities across all industries. It should be mentioned that the trading volume is low since many traders have departed for holiday.


Traders who are more long-term oriented should not pay too much attention to market movements in the last weeks of the year.