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February 4th - Zhu Weidong, Deputy Director of the Central Financial and Economic Affairs Commission and Deputy Director of the Central Rural Work Leading Group, stated at a press conference held by the State Council Information Office on the 4th that this years focus will be on stabilizing farmers income from grain cultivation. The key is to coordinate the use of policies such as pricing, subsidies, and insurance, improve the income protection mechanism for grain farmers, and prevent farmers from suffering losses due to low grain prices. Regarding prices, the government will make good use of policy tools such as minimum purchase prices and target prices, coordinate market-oriented procurement and policy-based storage, and promote the maintenance of reasonable prices for important agricultural products such as grain. Regarding subsidies, the government will maintain the implementation of subsidies for arable land protection, corn and soybean producers, and rice, effectively implement subsidies for agricultural machinery purchases and applications, and encourage local governments to conduct pilot programs for interest subsidies on special loans for grain and oilseed planting, providing farmers with tangible financial support. Regarding insurance, the government will strengthen insurance coverage for rice, wheat, corn, and soybeans, support the development of local specialty agricultural product insurance, improve insurance claims efficiency, effectively prevent natural and market risks, and provide farmers with a "safety belt" for grain cultivation.Petronas, the Malaysian national oil company, has signed a 20-year liquefied natural gas (LNG) supply agreement with Qatar Energy.According to futures news on February 4th, for the week ending January 31st, Japanese commercial crude oil inventories increased by 654,790 kiloliters from the previous week to 9,905,950 kiloliters. Japanese gasoline inventories decreased by 23,192 kiloliters from the previous week to 1,695,734 kiloliters. Japanese kerosene inventories decreased by 126,993 kiloliters from the previous week to 1,803,582 kiloliters. The average operating rate of Japanese refineries was 87.7%, compared to 91.1% the previous week.February 4th - According to Sensor Towers store intelligence platform, 36 Chinese companies were among the top 100 global mobile game publishers in terms of revenue in January 2026, generating a total of $2.18 billion, accounting for 37.8% of the total revenue of the top 100 global mobile game publishers in that period. Tencent, thanks to the strong performance of its flagship products such as "Honor of Kings" and "Peacekeeper Elite," saw its mobile game revenue increase by 43% month-on-month, firmly retaining its title as the worlds highest-grossing mobile game publisher.On February 4th, Lazard CEO Peter Orszag stated at the "Wall Street Journal Invest Live" event that the Federal Reserve may not have cut interest rates at the end of last year. While the market generally believes inflation is declining, he expects inflation to unexpectedly rise this year. He added that artificial intelligence and high-income consumers could boost US economic growth, describing this momentum as "fragile but strong." He also pointed out that most of the impact of tariffs has not yet materialized, which could also push up inflation. He believes the Fed has fallen behind the curve and should not have cut rates at the end of last year. "If we are right," he said, "all of this has only further exacerbated inflation, led to further depreciation of the dollar, and steepened the yield curve."

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.