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March 14th - According to the State Council Food Safety Office, in 2025, the national pass rate for random inspections of major food products such as rice, flour, oil, meat, eggs, and dairy products reached 99.37%, remaining stable above 99% for four consecutive years, indicating a continuous improvement in the overall level of food safety. Nationwide, food production and operation enterprises have 1.155 million food safety directors and 9.492 million food safety officers, with 100% coverage of large-scale food enterprises, achieving accountability and precise risk control. The State Council Food Safety Office continues to promote the construction of "Internet + Transparent Kitchens" in schools. Currently, the coverage rate of "Internet + Transparent Kitchens" in self-operated canteens of primary and secondary schools nationwide has reached 99%, and the coverage rate of off-campus catering units has reached 100%, effectively improving the efficiency of campus food safety governance.According to the Islamic Republic News Agency (IRNA), a senior Iranian provincial official said that despite the attack, oil exports from Irans Kharg Island are proceeding normally.March 14th - The General Office of the CPC Central Committee and the General Office of the State Council issued an opinion on promoting the development of a professional social work workforce. The main objectives are: after approximately five years, the structure and distribution of the professional social work workforce will be more rational, its professionalization and specialization levels will be significantly improved, the total number of high-level talents will be significantly increased, and the scale of professional social work positions will steadily expand.On March 14, two liquefied petroleum gas (LPG) carriers flying the Indian flag and belonging to an Indian shipping company successfully transited the Strait of Hormuz and are currently en route to India, expected to arrive at their respective Indian ports within a few days. Sources stated that the transit was conducted "very cautiously." Currently, more than 20 Indian-flagged merchant ships are anchored in the Strait of Hormuz.Greek tanker management company Marantankers: The Greek-flagged tanker Maran Homer was struck by an unidentified object outside the Cpp terminal in Novorossiysk, sustaining minor damage and no injuries.

S&P 500 (SPY) Rebounds As Buyers Emerge After Sell-Off

Jimmy Khan

Sep 15, 2022 14:26

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Markets Rebound From Yesterday's Sell-Off The S&P 500 advanced in the direction of 3950 as stocks recovered from yesterday's sharp decline.


Stocks received some support today from the PPI data, which revealed that PPI fell by 0.1% month-over-month in August. As long as inflationary pressure remained high, it should be highlighted that Core PPI climbed by 0.4% month over month as opposed to the analyst consensus estimate of 0.3%.


Today, 10-year Treasury rates attempted to settle over 3.80% and Treasury yields tried new highs. Trading speculation that the Fed would be obliged to hike rates quickly is driving up Treasury yields, which might eventually put more pressure on tech companies.


Leading tech stocks are now attempting to recover from yesterday's disaster. Apple is up 1%, while Tesla is up 4%. Meta continues to see significant pressure and is attempting to go below the $150 mark by reaching annual lows.


As WTI oil keeps rising, energy equities outperform other market sectors. In today's trade, Schlumberger is up 4% and Exxon Mobil is up 3%.


It should be emphasized that the comeback today is not significant. Rising Treasury rates have put significant pressure on the real estate market. The sector for basic materials is also declining. For instance, today's share price decline of 3.5% for big copper producer Freeport-McMoRan

The trading activity today demonstrates that after yesterday's sell-off, traders are still uneasy. Markets are most at risk from a hawkish Fed, therefore trading will probably remain bumpy until the Fed Interest Rate Decision is announced on September 21.

The S&P 500 Attempts To Hold Above 3950

The S&P 500 is now attempting to stabilize above the 3950-level barrier. The S&P 500 will proceed toward the next resistance level, which is at 3980, if this effort is successful. S&P 500 will be pushed toward the barrier at 4000 if it moves over this point.


On the support side, the S&P 500's closest support level is found at the most recent lows, which are 3920. S&P 500 will go toward the next support at 3900 if it is able to settle below this level. The support at 3885 may then be tested if this level is successfully tested.

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