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According to the latest report from Omdia on July 7, Apple will transfer MacBook Air display orders to BOE, and BOEs expected share of MacBook panel supply in 2025 will be 51%, an increase of 12% over the same period last year. LG Displays share will drop to 35% in 2025, a decrease of 9% from last year.July 7, according to the Financial Times, Amazon (AMZN.O) and Walmart (WMT.N) will clash this week. Seattle-based Amazon changed the launch of its annual "Prime Member Day" online promotion to July 8, the same date as Walmarts discount event last year. Walmart insisted on starting the event on the same date, which led to a head-on confrontation, and also extended the event from 4 days to 6 days, overwhelming Amazon. Its "Walmart Special" event will be carried out online and for the first time cover 4,600 stores in the United States. "The two retail giants are competing fiercely for the favor of American consumers," said Canavis, an analyst at market research firm eMarketer.Poly Property Group (00119.HK): In June, the company achieved contract sales of approximately RMB 4.8 billion, contract sales area of approximately 165,000 square meters, and an average contract sales price of approximately RMB 29,157 per square meter.According to TASS, Russian air defense forces destroyed 91 Ukrainian drones during the night.According to the Financial Times: British fintech company Revolut has not yet obtained approval from the UK financial regulator and cannot provide consumer credit services to its 11 million customers in the UK.

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

Alice Wang

Sep 09, 2022 15:45

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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.

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