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February 12th - According to Hong Kong Stock Exchange filings, Haizhi Technology Group raised a total of HK$758.5 million in its Hong Kong listing. The issue price was set at HK$27.06 per share. The 2.8 million shares offered to Hong Kong retail investors were oversubscribed by 5,065.06 times, while the 25.2 million shares offered to international investors were oversubscribed by 8.39 times.The UKs Unite trade union: The vote results mean that the planned second eight-day strike will not take place.On February 12, the State Post Bureau held a directors office meeting. The meeting emphasized the need to continue implementing the "Interim Regulations on Express Delivery," focusing on building a green postal service, constructing a green and energy-saving service system, accelerating the industrys green transformation, and promoting energy conservation and carbon reduction in production methods, adding new luster to the high-quality development of the postal and express delivery industry. It stressed the importance of strengthening the implementation of regulations, standards, and policies such as the "Requirements for Restricting Excessive Packaging in Express Delivery," strengthening administrative law enforcement, and ensuring enterprises fulfill their primary responsibilities. The meeting also emphasized the need to deepen the source governance of express packaging, coordinating with relevant departments to strengthen supervision of upstream e-commerce companies and merchants, fully mobilizing the enthusiasm of all parties, and accelerating the pace of green transformation. Finally, the meeting called for the formulation of an industry standard, the "Methods for Carbon Emission Accounting in the Postal Industry," organizing carbon emission accounting, and promoting carbon reduction throughout the entire process.Mexican President Simbaum: Continues to propose mediating relations between the US and Cuba.The U.S. Federal Aviation Administration (FAA) plans to issue new airworthiness directives for certain Boeing 737s.

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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