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On March 15, Iranian Foreign Minister Araqchi spoke by phone with French Foreign Minister Barrow on the evening of March 14 local time. The two exchanged views on the current US-Israeli military action against Iran and the regional situation. Araqchi pointed out that the provocative actions of the United States and Israel are the root cause of insecurity in the region and the Strait of Hormuz, and strongly condemned the aggressive attacks on Iranian military facilities. He emphasized that Irans defensive actions are only aimed at the military targets of the aggressors, not at regional countries. At the same time, Araqchi stated that the core of the instability in the entire region, including the situation in Lebanon, lies in Israels hegemonic expansion. He called on the international community to adopt a responsible attitude to prevent the conflict from escalating further.Iraqi Oil Ministry: The Kurdish Regional Ministry of Natural Resources is currently refusing to resume oil exports.Israeli Foreign Minister: We share the same determination with the United States to continue the fight against Iran until our objectives are achieved.March 15th - Most Gulf stock markets fell slightly on Sunday. Saudi Arabias benchmark index fell as much as 0.8%, with Rajhi Bank down 0.9% and Saudi National Bank, Saudi Arabias largest lender, down 1.9%; the Qatar index fell 0.5%, with Qatar National Bank, the regions largest lender by assets, down 1.3%; Bahrains benchmark index fell 0.3%; and Omans benchmark index fell 0.4%. The conflict between the US, Israel, and Iran has now entered its third week, with US President Trump threatening further strikes against Irans Kharg Island oil export hub, while Iran has vowed to retaliate. Furthermore, three sources familiar with the situation said the Trump administration rejected efforts by Middle Eastern allies to initiate diplomatic negotiations aimed at ending the war between the US, Israel, and Iran. Trump also called on allies to deploy warships to help secure the Strait of Hormuz, crucial to global energy supplies.March 15 (Xinhua) -- Iranian Foreign Minister Araqchi stated that the end of the war depends on two conditions: ensuring that the war will not be repeated and paying reparations. Araqchi also said that Iran welcomes any regional initiatives that can justly end the war. The Strait of Hormuz is open to everyone, except for ships of the United States and its allies.

S&P 500 (SPY) Remains Under Pressure As Traders Cannot Find Positive Catalysts

Jimmy Khan

Sep 01, 2022 14:48

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S&P 500 Attempts To Level Off At 3980

As there are not enough triggers for equities to recover from the recent sell-off, the S&P 500 is now trading close to the support at the level of 3980.


According to the ADP Employment Change report, which was just issued by the U.S., private firms gained 132,000 jobs in August as opposed to 268,000 in July.


The labor market is clearly slowing down, but because rising inflation is still the major issue, it is unclear if the Fed will pay heed to this slowdown.


Additionally, traders should be aware that the market-moving Non Farm Payrolls data, which will be issued on Friday, and the ADP Employment Change report often provide different image.


Technically, the S&P 500 is attempting to settle below the 3080 support level. The modest effort to recover encountered significant opposition close to the 4000 level. If the S&P 500 manages to close below 3980, there is plenty of potential for more downward momentum, and it may go swiftly below the next support around 3950.


After a strategic update, Bed, Bath & Beyond declines


Trading is turbulent today since there aren't any encouraging market triggers. After the significant sell-off in recent trading sessions, the selling pressure is, however, less fierce.


Following the publication of its strategy update, Bed, Bath & Beyond's stock is down 22%. The corporation will liquidate 150 outlets and eliminate 20% of its workforce. Bed, Bath & Beyond will begin an at-the-market offering campaign for up to 12 million shares of common stock to increase liquidity. The major cause of the sell-off is the impending stock offering.


Following the announcement of the company's third quarter fiscal 2022 results, HP is down 7%. Revenue forecasts were missed by the corporation, and guidance for the whole 2022 period was reduced.


Snap increased 10% after announcing that it will lay off 20% of its employees. Even if the news boosted Snap stock, investors should be aware that many businesses have already made layoff announcements, which will have a negative effect on employment reports in the coming months.

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