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On December 31st, the Ministry of Commerce announced that, starting January 1st, 2026, subsidies will be provided to individual consumers purchasing six categories of home appliances (refrigerators, washing machines, televisions, air conditioners, water heaters, and computers with Level 1 energy efficiency or water efficiency standards) and four categories of digital and smart products (mobile phones, tablets, smartwatches (bands), and smart glasses) with a single unit sales price not exceeding 6,000 yuan, according to nationally unified categories and standards. The subsidy standard is 15% of the final sales price of the above products after deducting discounts at each stage. Each person can receive a subsidy for one item per category, with a maximum subsidy of 1,500 yuan per home appliance and a maximum subsidy of 500 yuan per digital and smart product.The general offices of five departments, including the Ministry of Commerce, issued a notice on doing a good job in the 2026 home appliance trade-in and digital and smart product purchase subsidy program.On December 31, the State Council announced the appointment and removal of state personnel. Yang Jin was appointed Vice Chairman of the State Ethnic Affairs Commission; Lin Zechang was appointed Vice Minister of Finance; Li Xinghu was appointed Vice Minister of Transport; Zhan Hao was appointed Vice Chairman of the National Natural Science Foundation of China; and Zhang Yong was appointed Deputy Director of the Liaison Office of the Central Peoples Government in the Hong Kong Special Administrative Region.Hong Kong stocks saw the Hang Seng Index and Hang Seng Tech Index both fall by more than 1% before midday, with NetEase (09999.HK) and Trip.com (09961.HK) both falling by more than 3%.According to data from the Ministry of Commerce, from January to November 2025, my countrys service trade steadily grew, with total imports and exports reaching 7,202.37 billion yuan, a year-on-year increase of 7.1%. Exports totaled 3,198.01 billion yuan, up 13.4%; imports totaled 4,004.36 billion yuan, up 2.5%; and the service trade deficit was 806.35 billion yuan, a decrease of 279.63 billion yuan year-on-year. Knowledge-intensive service trade maintained growth. From January to November, imports and exports of knowledge-intensive services reached 2,730.57 billion yuan, up 5.6%. Among them, imports and exports of other commercial services and telecommunications, computer and information services reached 1,177.68 billion yuan and 959.21 billion yuan respectively, with growth rates of 4.1% and 8.3%. Exports of knowledge-intensive services reached 1,601.47 billion yuan, up 8.5%; imports of knowledge-intensive services reached 1,129.1 billion yuan, up 1.7%; and the trade surplus was 472.37 billion yuan, an increase of 106.74 billion yuan compared to the same period last year.

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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