EUR/USD 1.17181
0.305%
Gold 4716.92
0.481%
Oil 93.244
-2.505%
USD/JPY 159.415
-0.194%
GBP/USD 1.35321
0.490%
GBP/JPY 215.732
0.299%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
GFZ (German Geosciences Center): A 6.13-magnitude earthquake struck the Hokkaido region of Japan.Acting U.S. Attorney General Blanche: Its time to build a banquet hall.April 27th - As tensions in the Middle East push up oil prices, U.S. Treasury market traders are closely watching this weeks Federal Reserve meeting to assess officials views on the inflation outlook. The market widely expects the Fed to keep interest rates unchanged on Wednesday, but traders tend to believe a rate cut is still possible before the end of the year. Swap market data from Friday showed the probability of a rate cut before the end of the year has risen to around 40%. This development could pave the way for Kevin Warsh, Trumps nominee, to lead the Fed and implement more accommodative policies. Against this backdrop, traders will be listening closely for incumbent Chairman Powells remarks at the post-meeting press conference for an update on his plans after his term ends next May. Meanwhile, this week will also see a series of Treasury auctions, including 2-year and 5-year notes, to test market demand at current yield levels.According to a recent article by tech journalist Marc Gurman, Apples successor CEO John Tenus will officially take office on September 1st, followed by the release of the first foldable iPhone. This arrangement aims to establish Tenus as the face of this product line. The device focuses on durability and micro-crease technology, and is expected to cost over $2,000. In addition to the phone, Cook has also left behind approximately 10 new product pipelines, including AI smart home devices, AR glasses, and touchscreen Macs, to help him drive Apple into an unprecedented product expansion cycle during his new term.Tanker tracking data shows that Iran has loaded 4.6 million barrels of crude oil at its crude oil terminals, and another 4 million barrels of oil appear to have broken through the US blockade.

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