EUR/USD 1.17438
-0.092%
Gold 4951.83
0.322%
Oil 59.816
0.388%
USD/JPY 158.641
0.140%
GBP/USD 1.34900
-0.089%
GBP/JPY 214.012
0.067%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 23 - According to the Guangdong Branch of the Peoples Bank of China, by 2025, Guangdongs cross-border RMB settlement volume will rank among the top three provinces in China, with a year-on-year increase of 21.5%, accounting for more than 50% of total cross-border receipts and payments in both local and foreign currencies, both of which are record highs.On January 23, Tencent Group released an anti-fraud report, stating that throughout 2025, Tencents anti-fraud investigation department discovered and investigated more than 70 cases of violations of Tencents "red lines," and more than 90 people were dismissed for violating Tencents "red lines." Among them, more than 20 people were transferred to the public security organs for suspected crimes, and more than 30 external personnel involved in the cases were also arrested by the public security organs.Bank of Japan: Regarding the US economy, it is necessary to pay attention to factors such as the impact of tariffs on employment and income formation through deteriorating corporate profits.On January 23, the Bank of Japan (BOJ) kept its benchmark interest rate unchanged to observe the impact of last months rate hike on the economy. The statement said the BOJ kept the benchmark interest rate at 0.75% on Friday, consistent with the forecasts of all economists surveyed. Borrowing costs are at their highest level in 30 years. The BOJ will monitor its impact on prices and the economy and consider the timing of its next move accordingly. Just days earlier, Japanese Prime Minister Sanae Takaichi pledged to suspend the consumption tax on food, a move that triggered turmoil in financial markets. BOJ Governor Kazuo Ueda will elaborate on the reasons for the banks decision, possible interest rate trends, and the inflation outlook at a press conference this afternoon. His comments could influence the yens exchange rate, and any comments he makes about the recent surge in long-term yields will be closely watched.Bank of Japan: The output gap is expected to improve along with the trend and widen moderately.

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

Steven Zhao

Jan 19, 2023 17:42

微信截图_20230119173839.png

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.

Suggestion