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On January 12, White House National Economic Council Director Hassett stated on Monday that he had not participated in any discussions regarding the Justice Departments investigation into Federal Reserve Chairman Powell. In an interview with CNBC, Hassett said, "I havent been involved in any related discussions with the Justice Department, nor have I spoken with them before they contacted Powell, so I have nothing to add. I simply respect the independence of the Federal Reserve and the Justice Department, and well see how things develop."Lufthansa: We are closely monitoring the current situation. We plan to resume flights to Tehran on January 16.White House National Economic Council Director Hassett: I have not yet spoken with Federal Reserve Chairman Powell about his remaining on the council.Oman has enacted a law to establish an international financial center.On January 12th, Topjing Technology announced that from December 25th, 2025 to January 12th, 2026, its shareholder, the National Integrated Circuit Fund, reduced its holdings by 2.6121 million shares through block trades. On January 9th, 2026, the company completed the registration of the vesting of the second type of restricted shares, resulting in an increase in the total share capital and a passive dilution of its shareholding. In summary, the National Integrated Circuit Funds shareholding ratio decreased from 18.92% to 17.92%, reaching the 1% threshold. This change was due to the fulfillment of a share reduction plan, which was not fully implemented and does not affect the companys governance or violate any regulations.

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

Skylar Shaw

Sep 08, 2022 15:47

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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.

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