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Mattel (MAT.O) shares plunged nearly 31% in pre-market trading after the company projected lower-than-expected full-year profits and fourth-quarter profits that missed market expectations.Lyft (LYFT.O) shares plunged about 18% in pre-market trading after its first-quarter adjusted core profit forecast fell short of market consensus.On February 11, the General Office of the State Council issued the "Implementation Opinions on Improving the National Unified Electricity Market System." The document proposes to open up market-based trading channels between the State Grid and China Southern Power Grid operating areas, unify trading organization methods, promote information exchange, and achieve regular cross-operating area trading as soon as possible. It also calls for building a more capable and rationally structured transmission channel and power grid backbone, continuously increasing the scale of inter-provincial and inter-regional power transmission and the proportion of clean energy transmission. Under the premise of ensuring safety, it advocates for scientifically arranging priority power generation plans for inter-provincial and inter-regional power generation, reasonably expanding the scale of inter-provincial independent market-based power transmission, and strengthening multi-channel centralized optimization. The document further calls for the integrated construction and operation of the Southern Regional Electricity Market, improving power mutual assistance in the Yangtze River Delta, and exploring regional synchronous grid power mutual assistance trading within the framework of inter-provincial trading.February 11th - According to the latest data from QuestMobile, Qianwens DAU (Daily Active Users) reached 73.52 million on February 7th. Furthermore, Apples App Store free app chart shows that Qianwen has topped the charts for six consecutive days.On February 11, the General Office of the State Council issued the "Implementation Opinions on Improving the National Unified Electricity Market System." The document proposes to comprehensively build a spot market that better discovers prices and regulates supply and demand. It emphasizes fully leveraging the important role of the spot market in discovering real-time prices and accurately reflecting supply and demand, thereby better guiding the optimal allocation of electricity resources. The document aims to ensure the spot market is basically operational by 2027. It encourages all types of operators on both the generation and consumption sides to participate in the electricity market by submitting volume and price quotations. While clearly defining and implementing the electricity supply responsibilities of all parties, it also calls for steadily promoting user participation in inter-provincial spot transactions. Furthermore, it emphasizes strengthening the connection between the spot market and other markets in terms of transaction timing, prices, and settlement, using time-of-use price signals to better guide operators to optimize their generation and consumption behavior and stimulate the flexible adjustment potential of the power system.

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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