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On February 22, the Afghan Ministry of Defense issued a statement saying that Pakistan had once again violated Afghan territory, launching airstrikes on multiple civilian areas in Nangarhar and Paktika provinces. The attacks resulted in dozens of civilian casualties, including women and children. The Ministry of Defense strongly condemned Pakistans blatant violation of Afghan territorial sovereignty, considering it a serious breach of international law and the principle of good neighborliness. The Ministry warned that it would respond appropriately and carefully at the right time.February 22nd - According to Shanghai Railway Group, the Yangtze River Delta railway network is experiencing a peak in return passenger traffic on February 22nd, with an estimated 3.19 million passengers transported today, a year-on-year increase of 15.3%. Yesterday, 2.913 million passengers were transported, a year-on-year increase of 18.3%. Since the start of this years Spring Festival travel rush, the average daily passenger volume has been approximately 2.595 million. The railway department is increasing capacity on key routes and during peak hours to actively cope with the passenger flow peak, planning to add 584 passenger trains (378 through trains and 206 local trains) and expand the fleet of high-speed trains by 366.February 22nd - According to data from the Hong Kong-Zhuhai-Macau Bridge Border Inspection Station of the Zhuhai Border Inspection General Station, since February 15th (the 28th day of the twelfth lunar month), as of February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles entering and exiting through the Zhuhai Port of the Hong Kong-Zhuhai-Macau Bridge has exceeded 100,000, reaching 114,000. On February 21st (the fifth day of the first lunar month), the number of Hong Kong and Macau single-license plate vehicles inspected by the border inspection department exceeded 20,000 for the first time in a single day, setting a new historical high since the implementation of the "Macau vehicles traveling north" and "Hong Kong vehicles traveling north" policies.February 22 – Ahmed Altom, Director General of the Geological Research Authority of Sudan, stated on February 21 that the armed conflict in Sudan has caused approximately $7 billion in economic losses to the countrys mining industry. Altom said that the conflict has severely damaged Sudans mining infrastructure, reducing government-led mining activities from 18 states to 6. Geological surveys, exploration operations, and mining production have all been significantly affected, resulting in a sharp decline in related fiscal revenue.On February 22, US President Trump approved emergency aid to Washington, D.C., to address the aftermath of a leak that released at least 250 million gallons (approximately 940 million liters) of untreated sewage into the Potomac River. On January 19, a decades-old sewage pipe in Maryland ruptured, causing over 900 million liters of wastewater to flow into the Potomac River. This river flows west of Washington, D.C., and is a major source of drinking water for the capital region. The incident became one of the largest sewage spills in U.S. history. On February 18, Washington, D.C. Mayor Muriel Bowser declared a state of emergency and requested federal resources from President Trump to help the city deal with the sewage system leak.

S&P 500 (SPY) Rebounds Towards The 4,150 Level

Cory Russell

Aug 25, 2022 15:06

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In Advance Of The Jackson Hole Symposium, The S&P 500 Advances

As traders snatched up shares after the recent sharp sell-off, the S&P 500 gained some ground and surged closer to the 4,150 mark. The recovery was widespread, and today's trading saw gains across the board.


The size of the upward movement draws attention to the technical aspects of this recovery. The action was not specifically sparked by anything.

 

Because traders were hesitant to make significant trades before the Jackson Hole Symposium, which begins tomorrow, the bounce was not robust.


Markets will be significantly impacted by the news from Jackson Hole, so traders should brace themselves for volatility in the week's remaining trading sessions.

 

Technically speaking, the 20 EMA, which continues to be a strong resistance level, has prevented the S&P 500 from settling above it once again. For the S&P 500 to have a chance to develop steady upward momentum, it must get above this level.


On the support side, the S&P 500 should find its strongest support near the 50 EMA at 4080. A move below this level will indicate that a potential new downward trend for the S&P 500 is about to begin.

Energy stocks continue to perform well as WTI oil reaches new highs.


Leading energy equities including Exxon Mobil and Chevron benefited as WTI oil recovered from session lows and renewed upward momentum.


Following the company's announcement that it will begin selling goods, clothes, and accessories in Amazon's American shops, Peloton shares increased 20% today. The stock will continue to be volatile tomorrow since Peloton is expected to release results on August 25 before the market opens.


The share price of Bed Bath & Beyond increased by 18% after a WSJ story said that it had closed a financing transaction. Following this stock's quick climb to the $30 level and subsequent retreat into the $8.50 level, many traders are now underwater, and they may take advantage of the bounce to exit their holdings. Therefore, it is uncertain if Bed Bath & Beyond will be able to build on its recent upward momentum in the next trading sessions.


Nordstrom stock was among the losers, falling 20% after the firm delivered a dismal quarterly report and cut its expectations.


In general, the day was quite uneventful. When traders respond to the initial Jackson Hole news tomorrow, the market's behavior is likely to shift.