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The Ukrainian General Staff stated that its forces attacked an oil depot in Russias Saratov region.February 7 - Xu Yiding, a member of the Party Committee and Vice President of the Agricultural Development Bank of China, is suspected of serious violations of discipline and law and is currently under disciplinary review and supervisory investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission.February 7 - It was learned on February 7 local time that Iranian Armed Forces Chief of Staff Mousavi stated that the Iranian military remains on high alert and any threat, aggression, or miscalculation against Iran will be met with a decisive, swift, and regrettable response.On February 7th, Ukrainian President Volodymyr Zelenskyy stated that the United States and Russia might reach a bilateral agreement affecting Ukraine without Kyivs involvement. Zelenskyy said, "Given the potential risks, the Ukrainian delegation expressed the position that if there is any bilateral agreement between Russia and the United States, the clauses related to Ukraine cannot contradict the Ukrainian constitution." He appeared to be referring to the territorial issue. Zelenskyy indicated that Kyiv had received signals that Washington and Moscow might sign bilateral documents, including those related to economic cooperation. He said, "Intelligence indicates that Russia has proposed the so-called Dmitriev Plan to the United States, totaling approximately $12 trillion." He added that Kyiv had also seen some indications that a potential US-Russia bilateral document might include clauses related to Ukraine.February 7th - According to the official WeChat account "Pudong Release," the groundbreaking ceremony for the Zeiss Greater China Headquarters Complex was held in the Waigaoqiao Free Trade Zone on the afternoon of February 7th. The new complex represents Zeisss largest single infrastructure investment in China to date, with a planned construction area exceeding 50,000 square meters.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Retreat As Traders Focus On Recession Risks

Steven Zhao

Jan 19, 2023 17:42

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S&P 500 (SPX500)

S&P 500 found itself under pressure as traders reacted to the disappointing economic data.


Retail Sales declined by 1.1% month-over-month in December, compared to analyst consensus of -0.8%. Industrial Production declined by 0.7%, while Manufacturing Production decreased by 1.3%. Both reports missed analyst expectations.


The PPI report showed that Producer Prices declined by 0.5% in December. Treasury yields tested multi-month lows, as bond traders bet on a less hawkish Fed.


Lower Treasury yields did not provide any support to stocks as traders focused on recession risks. The pullback was broad, and all market segments moved lower. Consumer Defensive stocks were among the worst performers as Retail Sales data indicated that consumer activity was slowing down.

NASDAQ (NAS100)

NASDAQ  declined towards the 11,450 level amid a broad market sell-off. Leading tech stocks have found themselves under pressure, although Apple and Alphabet were almost flat in today’s trading session.


It should be noted that lower Treasury yields provided some support to the tech-heavy NASDAQ, which outperformed S&P 500 and Dow Jones.

Dow Jones (US30)

Dow Jones remained under strong pressure after yesterday’s sell-off. While Goldman Sachs made an attempt to rebound, other Dow Jones components were moving lower.


Honeywell, IBM, and Coca-Cola were among the biggest losers in the Dow Jones today. Currently, Dow Jones is trying to settle below the 33,500 level. In case this attempt is successful, Dow Jones will move towards the 50 EMA at 33,290.

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