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June 14th - This morning, the Songjiawan Downward Tunnel and the Pujia Gou Upward Tunnel, two key connecting tunnels located at Lezhi Station in Ziyang, Sichuan Province, were successfully completed, marking a crucial breakthrough in the hub connection project between the Chengdu-Chongqing Central Line High-Speed Railway and the Chengdu-Dazhou-Wanzhou High-Speed Railway. Lezhi Station is a newly built station and the only hub station connecting both high-speed railways simultaneously. The two connecting tunnels link the main lines towards Chengdu and Chongqing respectively, providing convenient conditions for trains to cross lines and turn around for traffic congestion relief.June 14th - According to US sources on the 13th, a US military fighter jet crashed on a mountain in Washington state, triggering a wildfire. The pilot ejected safely. It is understood that the F/A-18 Super Hornet fighter jet, belonging to the US Marine Corps, was conducting "routine training" before the crash.On June 14, it was reported that on June 13, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Mongolian Foreign Minister Battsetseg in Ulaanbaatar. Wang Yi emphasized that China is willing to work with Mongolia, under the strategic guidance of the two heads of state, to continue efforts towards building a community with a shared future of peaceful coexistence, mutual assistance, and win-win cooperation. Chinas foreign policy has always maintained continuity and stability, and China is willing to continue to be a trustworthy and reliable partner for Mongolia, providing sustainable support for Mongolias development and revitalization. Chinas 15th Five-Year Plan provides a comprehensive plan for high-quality development over the next five years and also offers the world a list of opportunities. The Chinese and Mongolian economies are highly complementary, and strengthening the alignment of development strategies is conducive to expanding cooperation areas, tapping cooperation potential, and promoting the economic and social development of both countries. China is willing to work with Mongolia to jointly build the Belt and Road Initiative with high quality, expand economic and trade cooperation, promote the improvement and increase of cooperation in various fields, and achieve more tangible results.June 14th - According to the China State Railway Group, from January to May this year, the national railway system transported a total of 1.67 billion tons of freight, with daily loading volume reaching a record high. Data released by the China State Railway Group shows that in the first five months, the national railway system transported a total of 1.67 billion tons of freight, a year-on-year increase of 1.8%; the average daily loading volume was 186,300 wagons, a year-on-year increase of 2.8%, with 202,400 wagons loaded on May 2nd, setting a new record for daily loading volume.According to Fox News: A senior U.S. government official said he believes an excellent and strong agreement has been reached.

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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