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On January 12, White House National Economic Council Director Hassett stated on Monday that he had not participated in any discussions regarding the Justice Departments investigation into Federal Reserve Chairman Powell. In an interview with CNBC, Hassett said, "I havent been involved in any related discussions with the Justice Department, nor have I spoken with them before they contacted Powell, so I have nothing to add. I simply respect the independence of the Federal Reserve and the Justice Department, and well see how things develop."Lufthansa: We are closely monitoring the current situation. We plan to resume flights to Tehran on January 16.White House National Economic Council Director Hassett: I have not yet spoken with Federal Reserve Chairman Powell about his remaining on the council.Oman has enacted a law to establish an international financial center.On January 12th, Topjing Technology announced that from December 25th, 2025 to January 12th, 2026, its shareholder, the National Integrated Circuit Fund, reduced its holdings by 2.6121 million shares through block trades. On January 9th, 2026, the company completed the registration of the vesting of the second type of restricted shares, resulting in an increase in the total share capital and a passive dilution of its shareholding. In summary, the National Integrated Circuit Funds shareholding ratio decreased from 18.92% to 17.92%, reaching the 1% threshold. This change was due to the fulfillment of a share reduction plan, which was not fully implemented and does not affect the companys governance or violate any regulations.

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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