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July 15th Futures News: 1. International oil prices have risen by more than 11% in just two trading days this week, the largest two-day percentage increase since mid-March. As of July 14th, WTI crude oil futures for the first month rose by $7.93 per barrel, an increase of 11.10%; Brent crude oil futures for the first month rose by $8.72 per barrel, an increase of 11.47%. Shipping activity in the Gulf region has slowed significantly as risks continue to escalate. Shipping data shows that from July 11th to 13th, confirmed passage of ships carrying commodities fell to 11 per day, compared to 30 per day from July 1st to 10th. 2. Deutsche Bank believes that the sharp rise in oil prices is due to escalating tensions between the US and Iran, coupled with Trumps renewed hardline rhetoric on the Strait of Hormuz. The daily increase in Brent crude oil on the 13th was the largest since 2020, reigniting concerns about stagflation and pushing up interest rate expectations and global bond yields. At the same time, rising energy costs and geopolitical risks have also contributed to this situation.On July 15th, Wang Guanhua, spokesperson for the National Bureau of Statistics and Deputy Director of the Department of Comprehensive Statistics of the National Economy, stated at a press conference held by the State Council Information Office that in the first half of the year, enterprises placed greater emphasis on research and development innovation, continuously increasing investment in areas such as patents, software, and databases. In terms of proportion, investment in intellectual property products accounted for 13.8% of fixed asset investment, an increase of 1.4 percentage points compared to the first quarter. Data from the National Bureau of Statistics shows that in the first half of the year, investment in intellectual property products increased by 9.4% year-on-year, accelerating by 1.5 percentage points compared to the first quarter.On July 15th, the State Council Taiwan Affairs Office held a regular press conference. Taiwanese media reported that the Taiwanese military held its first "joint defense exercise" this week, simulating "threat scenarios such as detecting enemy ships setting sail and entering territorial waters," in order to respond to potential threats. What is your comment on this? Zhu Fenglian, spokesperson for the State Council Taiwan Affairs Office, stated that the DPP authorities attempt to seek "independence" through force, escalating cross-strait confrontation, is the main culprit for the tense and unstable situation in the Taiwan Strait. Faced with the powerful Peoples Liberation Army, no matter how many exercises the DPP authorities conduct, it is all posturing and futile. It cannot change the inevitable defeat of "Taiwan independence," nor can it stop the historical trend of the inevitable reunification of the motherland.Barclays raised its price target for Goldman Sachs from $1,048 to $1,245.The main contract for low-sulfur fuel oil (LU) rose 6.00% intraday, currently trading at 4574.00 yuan/ton.

S&P 500 Retreats As Tech Stocks Decline

Jimmy Khan

Nov 01, 2022 16:03


Meta Strays to Lows

Despite widespread pressure in the IT sector, the S&P 500 steadied close to the 3870 mark. The heavily tech-focused Nasdaq Composite dropped approaching the 11000 mark. Meta, which dropped 6% in today's trading session, took the lead in the sell-off.


The primary deterrent for today's decline in Meta shares was the significant Instagram outage. The most recent earnings report seems to have disappointed investors even more. Earnings projections are declining quickly, which is bad news for Meta stock. Other notable tech companies' stocks, including Apple, Microsoft, Alphabet, and Amazon, fell by 2% or more today.


As traders remained uneasy ahead of the Fed Interest Rate Decision, which will be revealed on Wednesday, the yield on 10-year Treasuries increased today, moving closer to the 4.10% mark. Stocks are under further pressure due to rising Treasury rates and a stronger currency.


Interestingly, energy companies were able to advance today despite the decline in oil prices and Vice President Biden's proposals to impose a windfall tax on energy firms.


Following the release of its quarterly report, NXP Semiconductors saw a 2% decline. The firm exceeded analyst expectations for both profits and sales, reporting revenue of $3.45 billion and GAAP earnings of $2.79 per share. The worsening macro environment in its IoT sector, according to NXP Semiconductors, had an effect on its performance.


Traders also choose to stay cautious, and the stock found itself under pressure in the post-market session. The business noted that it remained cautious in the intermediate term owing to the "uncertainties in the macro environment."


It should be emphasized that the current decline in semiconductor stock prices is mostly attributable to the escalating US-China tensions, which might harm the global semiconductor market. It will be interesting to observe whether things get better in the following months.

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