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According to the Daily Mail, sources say British Prime Minister Keir Starmer has told close friends that he intends to resign and has developed a well-organized timetable for his departure.On May 17, British Columbia health officials reported on May 16 that a passenger from the cruise ship *Hundius*, who was quarantined in the province, tested positive for hantavirus in a preliminary test. British Columbias Chief Medical Officer of Health, Bonnie Henry, said the patient developed mild symptoms such as fever and headache two days prior and was subsequently hospitalized. Her preliminary hantavirus test on May 15 was positive. The patient is currently in isolation, and her test results still require confirmation by a microbiology laboratory. Her partner tested negative. Currently, 10 Canadian citizens are under quarantine due to the *Hundius* outbreak; four are in British Columbia for a 21-day quarantine, and the other six are in Alberta, Ontario, and Quebec.According to Israeli media reports, the massive explosion near Beit Shemesh, Israel, was a controlled industrial blast, with no casualties or property damage.May 17th - According to a report in the British newspaper *The Sun* on Saturday evening, British Chancellor of the Exchequer Reeves plans to announce next week that she will postpone the planned fuel tax increase originally scheduled for September. The temporary fuel tax reduction measure, which began in 2022, was originally scheduled to expire this September. If the measure expires, fuel prices will rise by 5 pence (approximately 6.6 US cents) per liter. However, the British government has previously extended this tax reduction measure several times, most recently in the annual budget last November. *The Sun* reports that Reeves is preparing to extend the measure again.On May 17, US President Trump posted an AI-generated image on social media. In the image, Trump and a general are standing on a warship, while small boats and ships flying the Iranian flag are nearby. The caption reads, "This is the calm before the storm."

S&P 500 Rebounds From Session Lows As Energy Stocks Rally

Jimmy Khan

Nov 04, 2022 16:57

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As major tech companies hit new lows, the NASDAQ Composite seeks to settle below the 10,700 mark.

Big Tech Stocks Continue to Be Under Stress

As traders responded to the ISM Non-Manufacturing PMI data, which fell short of analyst forecasts, the S&P 500 recovered from session lows.


Energy stocks took the lead in the recovery from session lows today due to robust support. In today's trading session, ConocoPhillips, APA Corporation, and Marathon Oil all saw gains of 6–7%.


ConocoPhillips had significant price appreciation after exceeding analyst expectations, boosting the dividend, and expanding its share repurchase program by $20 billion.


Despite missing analyst profit expectations, Etsy increased by 14%. The firm gave a positive prognosis for the last quarter of this year, which caused the stock to rise.


Booking increased by 5% with the release of the $6.05 billion in sales and the higher-than-expected adjusted profits of $53.03 per share.


Fidelity National Information Services, which was down 25% following the publication of its quarterly report, was under a lot of pressure due to weak guidance.


Leading tech companies including Apple, Alphabet, and Amazon had declines of 2% to 3%. Meta Platforms, meanwhile, tested fresh lows at $88.50.


If the mega cap companies continue to experience pressure, the whole market will not be able to develop a sustained upward trend. Traders are nonetheless concerned that rising interest rates may harm the bottom lines of powerful corporations.


While the IT industry leaders seemed unstoppable during the coronavirus crisis, their stocks were under a lot of pressure from rising interest rates, a stronger currency, and a slowing global economy. Traders should continue to watch the large tech stocks' movements for hints regarding the S&P 500's future course.

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