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On May 16, according to a report by the Islamic Republic of Iran Broadcasting (IRNA), a fire broke out at an oil factory in the northwestern Iranian city of Maragay at around 10:00 AM. The Iranian Red Crescent website reported that IRNA official Mohammad Hossein Kabadi stated that the organizations rescue personnel immediately rushed to the scene after receiving the fire report to conduct search and rescue operations. As of now, the fire has injured at least 10 people, and the rescue operation is still ongoing.Teslas US website shows that the price of the Model Y Performance All-Wheel Drive version in the US has been increased from $57,490 to $57,990.Teslas US website shows that the price of the Model Y Long Range Rear-Wheel Drive version in the US has been increased from $44,990 to $45,990.Teslas US website shows that the price of the Model Y Long Range All-Wheel Drive version in the US has been increased from $48,990 to $49,990.On May 16th, European Central Bank (ECB) Governing Council member Stournaras stated that a small interest rate hike by the ECB could curb inflation without causing economic damage. Even if the inflation rate is significantly above the target level for a period of time, as long as it is temporary, future tightening of monetary policy should be more moderate. This would both curb further inflation and avoid excessive shock to economic activity. The duration and intensity of the energy crisis, and its transmission mechanism to the real economy, will also determine the ECBs response. The ECB will continue to closely assess all available data and is prepared to set policy rates at a level consistent with maintaining price stability in the medium term. This typically dovish official emphasized that there is currently no strong evidence of a second round of inflation, but he also warned of rising uncertainty, as damage to energy infrastructure in the Gulf region could prolong inflationary pressures in the medium term. Extended delivery times and rising input costs indicate that supply chains are facing increasing pressure.

S&P 500 (SPY) Remains Under Pressure At The Start Of The Week

Yoshiki Marjory

Sep 27, 2022 16:38

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S&P 500 Declines The US dollar is testing new highs

As traders exit riskier assets, the S&P 500 keeps trying to settle below the support level at 3660.


A fresh high is being tested by Treasury yields. The yield on 10-year Treasuries is currently attempting to get above 3.85%. 10-year Treasuries yielded barely 2.60% at the beginning of August, so the recent upward movement was significant.


REITs are under a lot of pressure from rising Treasury yields. Ones of the S&P 500's greatest losers today is Vornado Realty, followed by Ventas, Prologis, and Kimco Realty.


The pressure on energy stocks has increased as WTI oil tested new lows. In today's trading session, Baker Hughes, Hess, and Halliburton are all down more than 3%.


Today, some tech stocks are attempting to recover, including Apple and Amazon. Other tech equities, which have been sluggish lately, are still falling. NVIDIA and Meta are reaching fresh lows.


It should be mentioned that a strong currency also acts as a deterrent for American stocks by raising the cost of investing for foreigners. The U.S. Dollar Index recently tested highs last seen in 2002. The worldwide flight to safety, which is negative for riskier assets like stocks, is highlighted by the dollar's surge.

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