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On December 1, Venezuelan Vice President Rodriguez stated on his social media that Venezuela had submitted an official letter signed by President Maduro to the Secretary-General of OPEC and all OPEC and OPEC+ members, accusing the United States of attempting to control Venezuelas largest oil reserves in the world through military intervention.December 1st - A new round of talks between US and Ukrainian delegations regarding the Russia-Ukraine "peace plan" has concluded. US Secretary of State Rubio stated after the talks that the meeting with the Ukrainians was "productive." "We still have more work to do," he said. "We maintain contact with the Russian side at varying levels."On November 30th, OPEC+ stated in a press release that OPEC+ countries agreed at their meeting on Sunday to maintain the group-wide oil production quotas for 2026 and to establish a mechanism to assess the maximum oil production capacity of member countries. The OPEC+ meeting, which accounts for half of the worlds oil production, comes as the United States is working to broker a peace agreement between Russia and Ukraine, and an easing of US sanctions against Russia could increase oil supplies. According to another statement, the eight OPEC+ countries that previously announced additional voluntary production adjustments in April and November 2023—Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—held an online meeting today to assess the global market situation and outlook. These eight countries reaffirmed their decision of November 2, 2025, to suspend production increases in January, February, and March 2026 due to seasonal factors.OPEC+ representative: OPEC+ has confirmed its plan to suspend production increases in the first quarter of next year.Google (GOOG.O) has postponed the opening of its London “ground-level skyscraper” headquarters.

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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