EUR/USD 1.15930
-0.022%
Gold 4179.08
0.531%
Oil 58.873
-0.193%
USD/JPY 156.427
0.083%
GBP/USD 1.32360
-0.026%
GBP/JPY 207.052
0.070%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
November 28th - UK industry data shows that UK car production fell 23.8% to 59,010 units in October, continuing to be affected by the major cyberattack suffered by Jaguar Land Rover, the UKs largest car manufacturer. Jaguar Land Rover, the luxury car brand under Tata Motors, shut down its systems to control the cybersecurity incident, resulting in a six-week shutdown of its UK factories and losses of £196 million (approximately US$259 million), with production only resuming in early October. The Society of Motor Manufacturers and Traders (SMMT) stated that overall car production, including commercial vehicles, fell 30.9% to 62,116 units in October. However, driven by government green targets and other policies, production of electric, plug-in hybrid, and hybrid vehicles bucked the trend, increasing by 10.4% to 27,287 units, accounting for nearly half of the total production for the month.LG Electronics plans to inject 200 billion won for shareholder returns and to improve its financial situation.Market news: Alarms are sounding in Kyiv, Ukraine.According to the Brazilian newspaper Folha de S.Paulo, Petrobras has approved a $109 billion business plan for the period from 2026 to 2030.On November 28th, according to the Financial Times, Belgian Prime Minister Barthes de Wever warned that rushing the EUs plan to use frozen Russian assets to raise €140 billion in loans for Ukraine would undermine the possibility of a peace agreement. In a letter to European Commission President Ursula von der Leyen, de Wever outlined three key conditions: EU member states must provide legally binding joint guarantees for €185 billion in Russian assets held in trust at Eurobank; they must share potential litigation costs; and other EU member states must also contribute their frozen Russian assets to the loan program. De Wever emphasized in the letter that "rushing into a compensation loan program would lead to collateral damage – as the EU, we are effectively hindering the final peace agreement." He also proposed an alternative: the EU should utilize its untapped borrowing capacity under the budget framework to provide €45 billion in aid to Ukraine. While most EU countries support this loan program, Belgium, as the main trustee of Russian assets, is concerned about potential Russian retaliation and legal risks.

S&P 500 (SPY) Tries To Gain More Ground Despite Powell’s Comments

Alice Wang

Sep 09, 2022 15:45

微信截图_20220908155444.png

S&P 500 Attempts To Maintain Its Rebound

As top tech companies are once again under pressure, the S&P 500 is fluctuating between gains and losses today. Amazon, Alphabet, and Apple are all down roughly 1%.


Today's traders concentrated on Fed Chair Jerome Powell's hawkish remarks, which emphasized the significance of the Fed's battle against inflation. Growth stocks suffered as a result of rising Treasury rates, which also placed some pressure on the S&P 500.


It should be observed that the financial and healthcare sectors both exhibit a noticeable increase in stock demand. Big banks like JP Morgan, Citigroup, and Morgan Stanley, for instance, are up today by approximately 2%.


S&P 500 retreated after failing to stabilize above the 4000 mark. The S&P 500 has found support around 3950 and resistance at 3980 at the moment. The S&P 500 will acquire further downward momentum and head toward the next support level at 3915 if it drops below the 3950 mark.


To the upside, the S&P 500 has to close above 4015 in order to have a chance of gaining long-term upward momentum. A rise over 4015 would pave the way for the 20 EMA at 4035, the next resistance level, to be tested.

Snap Rallies as Memo Highlights Ambitions for Growth

As a result of the market's response to the internal message that Snap CEO Evan Spiegel delivered, Snap is up more than 7% today. The corporation intends to increase the user base to 450 million by the end of the next year, the letter states.


Following the company's announcement of its new partnership with the cryptocurrency exchange FTX, Gamestop has also had some support today and tried to settle over the $26 mark. It remains to be seen if the new crypto relationship will increase interest in the meme stock, since Gamestop stock has been under significant pressure over the last several weeks.


From a broad perspective, the market needs more triggers to keep bouncing back. Trading will probably continue to be quite volatile before the Fed decision, which will be announced on September 21. While traders look ready to buy stocks after the major pullback, the hawkish Fed may limit their appetite for risk.

Suggestion