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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.0 occurred near Taiwan at 16:47 on January 18. The final result is subject to the official rapid report.Ukrainian President Zelensky: Russia launched airstrikes on Ukraine last night, killing two people and injuring dozens.According to three security sources, Syrian government forces have captured the Conoco gas field and the largest oil field in the east, Omar.On January 18th, Snowman Group issued an announcement stating that its stock price had experienced abnormal fluctuations, with a cumulative daily closing price deviation exceeding 20% over two consecutive trading days (January 15th and 16th). After verification, no corrections or supplements were found to the previously disclosed information, the companys operations are normal, and there have been no significant changes in the internal or external environment. The company, its controlling shareholder, and actual controller, Lin Rujie, have no undisclosed material matters, and he did not trade the companys stock during the period of abnormal fluctuations. The company has not violated any information disclosure regulations and reminds investors to rely on information disclosed through designated media and to invest rationally.January 18th - According to a report in The Washington Post on Sunday, the U.S. Department of Defense has ordered approximately 1,500 active-duty U.S. troops to prepare for deployment to Minnesota, the state most affected by protests against government deportation actions. The newspaper, citing Department of Defense officials, stated that the military has placed relevant units on "ready to deploy" status in case the violence in the state escalates further. However, it remains unclear whether these troops will actually be deployed. On Thursday, Trump threatened to invoke the Insurrection Act to deploy troops if state officials did not stop protesters from attacking immigration officials. This comes after a significant increase in the number of Immigration and Customs Enforcement (ICE) personnel.

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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