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According to Axios: Amazon continues to lay the foundation for Primes position in sports streaming, and Amazon is close to reaching a deal to become one of three partners of the NBA.[The Federal Reserve may compromise on the banks capital increase plan] According to the Wall Street Journal, the Federal Reserve requires banks to hold more capital. However, JPMorgan Chase CEO Dimon and other major bank CEOs have taken a tough stance on the proposal, and now it seems that their strategy may have worked. According to people familiar with the matter, the Federal Reserve and two other federal regulators are developing a new plan that will significantly relax the capital increase requirements of large US banks by nearly 20%. The capital increase requirements are intended to ensure that large banks have enough buffers to absorb potential losses, and the new plan may be only half of the original plan. This is a major victory for banks. The banks said that the originally proposed rules would lead to a decline in profits and restrict lending. This also represents a shift in the balance of power between large US banks and regulators, ending the era when the Federal Reserve had the upper hand.[The Israeli army continues to launch military operations against Rafah, and a large number of Gazans are forced to stay in Mawasi] Recently, the Israeli army has continued to launch military operations against the southern city of Rafah in the Gaza Strip, and a large number of Gazans have been forced to embark on the road of escape again, heading to the so-called "humanitarian zone" in the southwest of the Gaza Strip - Mawasi. On May 19, many displaced people were stranded in the northwest of Mawasi. They said that there was almost no drinking water and no public health facilities. Mawasi is located on the western coast of Khan Yunis, about 12 kilometers long and 1 kilometer wide, with an area equivalent to 4% of the entire Gaza Strip. Previously, it was just a coastal desert with about 9,000 residents, but now it has accommodated hundreds of thousands of displaced people.Russian Ministry of Defense: 103 drones and 12 ATACMS missiles shot down in the past 24 hours.[Japans gold retail price hits record high for 4 consecutive days, platinum price soars nearly 16% in one month] This week, Japans domestic gold retail price hit a record high for 4 consecutive days, and platinum and silver prices are also rising rapidly. Data shows that the price of platinum in Japan has reached 6,040 yen (about 280.9 yuan) per gram on Saturday, an increase of nearly 16% in one month. In addition, Japans platinum futures transaction price also hit an 11-year high this week. Relevant surveys show that in the past two years, global platinum has been in a state of supply shortage, and its price is expected to rise further in the future, which will further push up the domestic platinum transaction price in Japan.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Remain Under Pressure As Pullback Continues

Steven Zhao

Feb 24, 2023 15:33


S&P 500

As dealers responded to the weaker-than-expected GDP figures, the S&P 500 hit new lows. In contrast to the average estimate of 2.9% among analysts, the second estimate of the fourth-quarter GDP Growth Rate report revealed that GDP grew by 2.4% quarter-over-quarter. Initial Jobless Claims stayed below 200,000, demonstrating the resilience of the labor market.


Curiously, after a failed effort to break through the crucial 4.00% mark, the yield on 10-year Bonds fell toward 3.90%, but this move did not give equities enough support.


Energy equities were able to pick up positive momentum as crude markets recovered from yesterday's sell-off, despite the fact that most market sectors are moving downward during today's trading session.


Despite NVIDIA's stock's good performance, which increased 13% following a robust earnings report, NASDAQ retreated towards the 12,000 mark. The business anticipates that the growth of AI will increase demand for its goods.


Among the largest losses in the NASDAQ today is eBay, which is down 6%. Despite exceeding expert expectations for profits and sales, the company came under heavy pressure as traders concentrated on the dismal full-year outlook.


Dow Jones Dow Jones dropped below the 33,000 mark and continued to trend downward as the decline went on.


After the most recent results report, dealers continued to unload shares of the largest store, placing substantial pressure on Walmart stock.


Among the Dow Jones components today, Chevron had the greatest performance due to the robust recovery in the energy markets.