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On January 5th, Vasu Menon, Managing Director of Investment Strategy at OCBC Bank in Singapore, stated that despite Trumps promise of US corporate support for revitalizing Venezuelan oil production, restarting operations will require a considerable amount of time and capital investment before full capacity can be restored. Amidst ongoing political turmoil, supply disruptions could slightly push up oil prices in the short term. However, given that Venezuela is not currently a major oil producer, its impact is likely to be limited. OPECs production decisions also help stabilize oil prices. "Overall, after a year of significant geopolitical events in 2025, the market now appears less vulnerable to geopolitical risks. Short-term contingencies may trigger some tensions, but as seen last year, their impact may be short-lived."On January 5th, Tai Hui, Chief Market Strategist for Asia Pacific at JPMorgan Asset Management, believes there are two reasons why the market has not reacted strongly to the US takeover of Venezuela. First, Venezuelas oil production accounts for a very small percentage of global output (approximately 1%). Years of underinvestment mean it cannot quickly increase production and contribute to global supply in the short term. With Trump announcing that the US will "take over" Venezuela in the short term, the future of the new regime remains unclear. The impact on global markets will at most be reflected in the energy market. Of course, this event has broader geopolitical implications, but "in my view, financial markets are not efficient at accurately pricing this type of risk."January 5th - According to the China State Railway Group, during the New Years Day holiday travel period (December 31, 2025 to January 4, 2026, a total of 5 days), the national railway system transported a total of 79.023 million passengers.January 5th - Domestic refined oil prices will see their first adjustment this year at 24:00 on January 6th. According to Longzhong Information, due to the weakening trend of international crude oil prices during this adjustment cycle, the expected increase in refined oil prices when the adjustment window opens is around 30 yuan/ton, below the 50 yuan/ton adjustment threshold. Therefore, it is highly likely that this round of price adjustments will be suspended.On January 5th, according to Qichacha APP, Xiaomi Automotive Technology Co., Ltd. recently published a patent application for "Fatigue Driving Intervention Method, Device, Vehicle, Equipment, Medium, and Chip." The patent abstract from Qichacha shows that this disclosure applies to smart cockpits. The method includes: acquiring multiple vehicle-side data from the vehicles infotainment system and multiple driver data based on a drivers wearable device during driving; identifying the drivers fatigue status based on the multiple vehicle-side data and multiple driver data; and, in response to identifying the drivers fatigue state, performing fatigue driving intervention processing according to the drivers fatigue level. This improves the accuracy and precision of determining the drivers fatigue state in a driving environment. By implementing targeted fatigue driving intervention measures through the vehicle and wearable device, it enhances the effectiveness and proactiveness of fatigue driving intervention measures and optimizes the intervention effect.

S&P 500 (SPY) Remains Mixed In Choppy Trading

Cory Russell

Sep 20, 2022 14:37

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Healthcare Stocks Drop Following Biden's Remarks It's a Pandemic

The S&P 500 is trying to close below 3850 as Treasury rates continue to rise in advance of the Fed Interest Rate Decision. The yield on 2-year Treasuries is attempting to settle above the 3.95% mark as traders brace themselves for an aggressive Fed.


It should be emphasized that the retreat today is not significant. The worst-performing equities today are in the healthcare sector after U.S. President Joe Biden declared the epidemic to be finished. In today's trade, Moderna's shares fell by roughly 10% while Pfizer lost 2%.


Large-cap tech stocks perform inconsistently. While Microsoft is reaching new lows, Apple is recovering from the most recent setback.


Along with the oil markets, energy equities recovered from their session lows. Leading oil companies Exxon Mobil and Chevron, however, have not been able to return to the positive zone.


Trading will probably continue to be tense before the Fed announcement. The big issue is whether Fed Chair Jerome Powell gives a hawkish signal since markets have already factored in a 75 basis point rate increase.


Traders are now concerned that abrupt rate increases could cause the economy to enter a true recession, which will result in job losses and lower corporate earnings. Given this, the market will react quite strongly to Powell's remarks.

Support Remains Solid at 3850

S&P 500 dropped below 3885 and is now testing support at 3850. Since the RSI is still in the positive range, there is still plenty of space for more downward momentum to develop should the proper triggers materialize.


The S&P 500 will go toward the next support level at 3825 if it manages to settle below 3850. The next support at 3800 will be tested if this level is successfully tested.


The S&P 500's closest upward resistance level is found at 3885. The S&P 500 will go toward the next barrier at 3900 if it rises again above this level. The S&P 500 will be pushed toward the barrier of 3920 if it moves over 3900.

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