EUR/USD 1.15523
-0.075%
Gold 4315.44
-0.655%
Oil 78.301
2.663%
USD/JPY 158.154
0.380%
GBP/USD 1.34853
-0.088%
GBP/JPY 213.280
0.291%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The Peoples Bank of China (PBOC) announced today that it conducted 18 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 18 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.According to JLC Network Technologys calculations, as of the sixth working day on August 10th, the average price of benchmark crude oil was $80.59 per barrel, with a change rate of -9.32%. Domestic gasoline and diesel retail prices should be reduced by 380 yuan per ton. The adjustments are based on: 1. the domestic crude oil import structure and settlement benchmark varieties; 2. the possibility of slight adjustments based on import structure and other factors during the pricing mechanisms operation, which JLC Network Technology will revise accordingly; 3. at 24:00 on July 31st, domestic gasoline and diesel retail prices were increased by 685 and 655 yuan per ton respectively. Based on the "ten working days" principle, the adjustment window for this round is 24:00 on August 14th.As of 8:30 on August 10, 2026, Brent crude oil, WTI crude oil and other commodities saw the largest fluctuations. A chart reviews the overnight price changes in the international market and their corresponding theoretical mappings in the domestic market.Iranian media reported that the parliamentary National Security Committee approved the Strait of Hormuz security outline. International crude oil prices opened higher and fluctuated. A chart provides a quick overview of the pre-market crude oil prices converted between domestic and international markets.Futures News, August 10th: Crude oil prices continued to rise, driven by positive news and cost factors, leading to renewed price-pushing sentiment in the fuel oil market. Downstream traders remained cautious, with demand primarily driven by immediate needs, resulting in slow market activity. It is expected that fuel oil prices will see a slight increase today, but the rise will be limited.

S&P 500 (SPY) Rebounds As Tech Stocks Move Higher

Skylar Shaw

Sep 08, 2022 15:47

微信截图_20220908154235.png


Tech Stocks Increase Leading tech companies recovered after the most recent pullback, and the S&P 500 increased its upward momentum and headed near the 3950 mark.


Treasury rates decreased, and the U.S. currency retreated from annual highs, which was another encouraging factor for IT stocks. It should be highlighted that certain tech stocks now lack favorable momentum, including Apple, Meta, and NVIDIA.


Meanwhile, when WTI oil breached the crucial support level and advanced towards $83, energy equities were among the worst performers. Major energy companies' shares are down by roughly 2% in today's trade, including Schlumberger, Chervon, and Exxon Mobil.


We've previously spoken about how the market required a recovery in tech equities to go higher. The market behavior today suggests that, if leading tech stocks continue to have solid support, the S&P 500 may acquire considerable upward momentum even while the prior leader (energy stocks) is under pressure. Accordingly, the dynamics of the top tech companies, which continue to be the primary drivers of the S&P 500, will determine whether the present recovery continues.

S&P 500 Tests Resistance At 3950

The S&P 500 broke through the barrier of 3915 and found support close to 3885. The S&P 500 is now attempting to stabilize above the resistance of 3950.


The S&P 500 will proceed toward the next resistance level, which is at 3980, if this effort is successful. A rise over this point will allow for the testing of the 4000 level resistance. The S&P 500 will go toward the 4015 barrier level if it rises over 4000.


The prior resistance level at 3915 will act as the S&P 500's first support level on the support side. The S&P 500 will go toward the next support at the recent lows at 3885 if it drops below this level. The S&P 500 will be pushed into the 3830 support level if this level is successfully tested.

Suggestion