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On August 25th, according to the Guangxi Hydrological Center, from 8:00 AM on August 24th to 8:00 AM on August 25th, parts of Guilin, Wuzhou, Guigang, Chongzuo, Hezhou, Laibin, and Nanning experienced heavy to torrential rain, with localized areas experiencing extremely heavy rain. The highest daily rainfall was recorded in Daxijiang Town, Quanzhou County, Guilin City, at 151.5 mm. A total of 20 stations on 14 rivers in Guangxi, including the Zuojiang River and its tributaries Heishui River and Pingxiang River, the Mingjiang River and its tributaries Gongan River, Pailian River, Sizhou River, Pinger River, and Beilun River, experienced floods exceeding warning levels by 0.37 to 7.69 meters. The Yujiang River experienced its second flood of 2026. As of 8:00 AM on the 25th, 15 stations on 11 rivers in Guangxi, including the Yujiang River and its tributary Qinglong River, the Mingjiang River and its tributary Pailian River, the Zuojiang River and its tributary Kelan River, and the Pinger River, still exceeded warning levels by 0.36 to 7.68 meters.On August 25th, the Beijing Meteorological Observatory issued a yellow rainstorm warning signal at 09:00: Thunderstorms are expected from west to east in Beijing from the afternoon to the night of August 25th, with hourly rainfall exceeding 50 mm in most areas and cumulative rainfall exceeding 100 mm in some isolated areas. Mountainous and hilly areas may experience secondary disasters such as flash floods, mudslides, and landslides, while low-lying areas are prone to flooding. The Beijing Water Authority and the Beijing Meteorological Bureau jointly issued a yellow flash flood risk warning at 09:00: Flash floods are expected in mountainous areas of Beijing starting at 09:00 on August 25th (yellow risk). The Beijing Water Authority and the Beijing Meteorological Bureau jointly issued a blue flooding risk warning at 09:00: Flooding in the central urban area of Beijing is expected to be at a general risk starting at 09:00 on August 25th (blue risk).Japanese Chief Cabinet Secretary Minoru Kihara: We are still assessing the impact of the new US sanctions against Iran on Japan.On August 25th, Junzheng Co., Ltd. (03223.HK) opened flat on its first day of listing, with an opening price of 100.00 yuan, the same as the issue price.On Tuesday, August 25, the Hang Seng Index opened 116.89 points higher, or 0.46%, at 25,634.22; the Hang Seng Tech Index opened 8.26 points higher, or 0.18%, at 4,602.3; the H-share Index opened 29.15 points higher, or 0.34%, at 8,500.51; and the Red Chip Index opened 6.95 points higher, or 0.16%, at 4,254.58.

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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