EUR/USD 1.17114
0.056%
Gold 4745.61
0.115%
Oil 92.244
0.312%
USD/JPY 159.410
-0.041%
GBP/USD 1.35069
0.033%
GBP/JPY 215.320
0.019%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
SK Hynixs stock price rose 0.7% in South Korea.Samsung Electronics shares rose more than 3% in South Korea.According to Iranian sources on the 23rd, Irans Permanent Representative to the United Nations, Illavani, sent a letter to UN Secretary-General Guterres and the Security Council, arguing that the United States and Israel should bear full responsibility for their illegal attacks on Iranian civilian space and communications infrastructure.On April 23, the Bank of Korea stated on Thursday that global demand for artificial intelligence technology drove export growth, resulting in a strong rebound in the South Korean economy at the beginning of the year. The countrys GDP grew by 1.7% quarter-on-quarter in the first quarter of this year, reversing the contraction expected in the fourth quarter of 2025 and marking the fastest growth since the third quarter of 2020. This figure exceeded the consensus forecast of 0.9% in institutional surveys and even surpassed the most optimistic predictions. Data showed that chip exports increased by 139.1% year-on-year in the first quarter, more than double the growth rate of the previous quarter, with overall export growth reaching its highest monthly rate since 2021. Construction investment and equipment investment grew by 2.8% and 4.8%, respectively. However, risks remain for the South Korean economy, whose growth momentum has been volatile in recent quarters. Consumer confidence fell to a 10-month low in March as the war with Iran cast a shadow over growth and price prospects.On April 23, White House National Economic Council Director Hassett expressed support for Federal Reserve Chairman Powells plan—to remain as Fed chairman temporarily if his successor is not confirmed by the Senate by the end of his term in May. Hassett stated on Wednesday, "I think this is the proper legal understanding." Trump has nominated Warsh to succeed Powell, but Republicans currently do not have enough votes to move the nomination from the Senate Banking Committee to the Senate for confirmation. Republican Senator Thom Tillis indicated he would postpone the vote until the Justice Department ceases its alleged "sham" investigation into cost overruns in the Fed building renovation project. Speaking about Warsh, Hassett said, "We are very confident that he will become chairman in the appropriate time. I believe there will be discussions about how to proceed."

S&P 500 Rebounds From Session Lows As Energy Stocks Rally

Jimmy Khan

Nov 04, 2022 16:57

微信截图_20221104163926.png


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.

Suggestion