EUR/USD 1.18120
0.437%
Gold 3698.71
0.543%
Oil 63.391
0.609%
USD/JPY 146.926
-0.327%
GBP/USD 1.36412
0.321%
GBP/JPY 200.430
0.000%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The New York Times (NYT.N) fell 1.3% in premarket trading after Trump sued the company for defamation.On September 16, the National Highway Traffic Safety Administration said on Tuesday that it would launch a so-called "preliminary assessment" on the issue that the electronic door handles of some Tesla Model Y models may lose power and fail. The investigation covers some 2021 Model Y models. A few days ago, an investigation exposed a number of accidents: after the vehicle lost power, the occupants were injured or died because they could not open the door. The National Highway Traffic Safety Administration said: "This investigation focuses on the operability of the vehicles external electronic door locks because in this case, there is currently no way to manually open the door. The agency will continue to monitor all reports involving being trapped when opening the door from the inside of the vehicle, and the Vehicle Defects Investigation Office will take further action as needed."September 16: Building materials trading volume reached 110,500 tons, a 6.04% decrease from the previous trading day. September 15: Building materials trading volume reached 117,600 tons, a 1.03% increase from the previous trading day. September 12: Building materials trading volume reached 116,400 tons, a 26.66% increase from the previous trading day. September 11: Building materials trading volume reached 91,900 tons, a 1.18% decrease from the previous trading day. September 10: Building materials trading volume reached 93,000 tons, a 8.28% decrease from the previous trading day. Last weeks average: Building materials trading volume was 10,308 tons.On September 16th, ING Bank stated in a research report that the US dollar is likely to remain relatively weak. The report pointed out that the US dollar started the week on a weak note, which may be partly related to the markets early positioning for the expected Federal Reserve interest rate cut later this week. ING Bank said that the weakening of the US dollar was also affected by the benign external environment. Global stock markets continued to rise slightly due to the dual effects of resilient business confidence and the expected decline in core borrowing costs. The report stated that this situation would typically prompt capital to flow into risky assets and non-US dollar markets, thereby reducing investor demand for the safe-haven currency, the US dollar. ING Bank said that the focus of the market on Tuesday will be US retail sales data.Spanish Economy Minister: We see average annual economic growth above 2% in the medium term.

S&P 500 (SPY) Rebounds From Session Lows As Energy Stocks Rally

Alice Wang

Aug 30, 2022 15:20

微信截图_20220830150941.png

Stocks Continue to Face Some Pressure

As traders continued to pay attention to Powell's hawkish remarks, the S&P 500 fell below the 4050 mark.


It is not unexpected that tech companies had a poor day given that the yield on 10-year Treasuries has risen back over the 3.10% mark. Apple, Microsoft, Tesla, NVIDIA, Meta, and other well-known IT companies are still under a lot of pressure.


3M Company was the biggest laggard in Dow Jones. The stock is still significantly under pressure because investors are concerned that litigation involving combat earplugs might cost the business up to $100 billion. A court decided on Friday that the bankruptcy of the subsidiary of 3M Business could not bar legal actions against the parent company.


The dominant market sector at the moment is energy equities. Leading energy equities like Exxon Mobil and Chevron received further support as WTI oil rose amid violent demonstrations in Iraq. At the close of today's trading session, the S&P 500 may go higher due to the uptick in the oil sector.

Will There Be Another Sell-Off?

Traders worry that the economy will face severe pressure as a result of the Fed's aggressive rate rises. Since many of the shares in this market category are trading at high valuation levels, tech stocks continue to be sensitive to changes in Treasury yield dynamics. For instance, NVIDIA, which has lost nearly 45% of its value so far this year, is still selling at a projected P/E of 35.


It would be stupid to anticipate that the S&P 500 would continue to decline day after day, despite the fact that increasing Treasury rates and future Fed rate rises are significant negative drivers. There are no indications of significant liquidity issues worldwide, and there should be enough buyers anticipating pullbacks to start positions in American equities. The market may get extra support from the surge in energy equities.


The S&P 500 is attempting to climb back over the resistance of 4040 after failing to go below the 4000 mark. If this effort is successful, the S&P 500 will advance in the direction of the 50 EMA, which is close to the 4080 level. The test of the resistance at 4115 will be possible if a move is made above the resistance at the 50 EMA.


To have a chance of gaining further downward momentum, the S&P 500 has to settle again below 4040 on the support side. S&P 500 is placed at its next support level at 4000. The S&P 500 will move in the direction of the support at 3975 if it is able to settle below this point. If the S&P 500 moves below 3975, it will be forced into the 3945 support level.

Suggestion