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On January 11th, US President Trump posted a statement saying that for years, Cuba has relied on Venezuelas vast oil and financial resources to function. In return, Cuba provided "security services" to Venezuelas two previous dictators—but all of that is coming to an end! Last weeks US-led attacks have killed most of the "Cubans," and Venezuela no longer needs the protection of these thugs and blackmailers who have held it hostage for years. Now Venezuela has the worlds most powerful military force—the United States—to protect them, and we will fulfill our duty to safeguard them. There will be no more oil and money flowing to Cuba—zero flow! I strongly urge (Cuba) to reach an agreement quickly, lest it be too late.US President Trump: For years, Cuba has relied on large amounts of oil and money from Venezuela to function. But now there will be no more oil and money flowing to Cuba. I strongly urge them to reach an agreement quickly, lest it be too late.On January 11, South African President and African National Congress (ANC) President Cyril Ramaphosa stated on the 10th that 2026 is a "crucial year" for South Africa to achieve development in areas such as improving local government services and promoting economic transformation. Speaking at the ANCs 114th anniversary celebration in Rustenburg, North West Province, Ramaphosa said that South Africa is currently facing numerous domestic and international challenges, with urgent needs for improvement in areas such as government services, governance capacity, and economic growth. Regarding the current international situation, Ramaphosa reiterated South Africas firm support for the people of Venezuela and other countries in safeguarding their national sovereignty.On January 11th, it was reported that on the morning of January 7th, Liu Liehong, Secretary of the Party Leadership Group and Director of the National Bureau of Data Science and Technology, chaired a symposium on data property rights registration. At the meeting, Jiang Ying, President of the Beijing Internet Court, Professor Chang Pengao of Peking University, officials from data management departments of Jiangsu Province, Hangzhou City, Qingdao City, and Shenzhen City, and representatives from companies such as China Mobile, China Southern Power Grid, Beijing International Big Data Exchange, Tencent Group, Haitian Ruisheng, and Taiyi Technology offered their opinions and suggestions on improving the data property rights registration system. Establishing a data property rights registration system is an important measure to implement the data property rights system. The National Bureau of Data Science and Technology will further study and learn from the experiences and practices of registration systems in other fields, continuously absorb opinions and suggestions from all sectors of society, and innovate to establish a registration system adapted to the characteristics of data, so as to better promote the circulation and use of data and release the value of data elements. The main officials from the Policy and Planning Department and the Data Resources Department of the National Bureau of Data Science and Technology attended the meeting.Iranian President Peshizian stated that the United States and Israel are directing "rioters" to create instability in Iran.

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.