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U.S. stocks opened lower, with the Dow Jones Industrial Average down 0.15%, the S&P 500 down 0.25%, and the Nasdaq Composite down 0.36%. Meta Platforms (META.O) rose more than 5% after launching its personal AI assistant, Muse. Amazon (AMZN.O) fell 1.2% after issuing its first four-part sterling bond. Apple (AAPL.O) dipped slightly by 0.2% ahead of its major product launch event.On September 9th, the "Digital Trade Development Trends and Frontiers Forum" was held during the 2026 China International Fair for Trade in Services. The forum, themed "Enhancing International Green Economic and Trade Cooperation in the Digital Age and Promoting a Community with a Shared Future for Mankind," focused on discussions and exchanges regarding the implementation of the "Framework Initiative on International Economic and Trade Cooperation in the Digital Economy and Green Development," and released relevant cooperation outcomes. Jiang Chenghua, Vice Minister of Commerce, attended the forum and delivered the opening address. You Jun, Vice Chairman of the Standing Committee of the Beijing Municipal Peoples Congress, and Tina, Deputy Minister of Public Services, Labour and Social Welfare of Zimbabwe, also attended the forum. Jiang Chenghua pointed out that China has always been an active promoter of the digital economy and green development, sharing its experience in digital and green development with countries in the Global South through concrete actions. China is willing to further leverage its active role as the initiator of the Framework Initiative to deepen practical international economic and trade cooperation in the digital and green fields and promote the achievement of the UN Sustainable Development Goals. China calls on all parties to uphold openness and cooperation, promote communication and exchanges, expand economic and trade cooperation to contribute to common development, strengthen capacity building, and deepen exchanges and mutual learning.Mexican Economy Minister Ebrard: Mexican President Sinbaum and U.S. Commerce Secretary Lutnick will hold an online meeting.World Trade Organization indicators show that global merchandise trade continues to show resilience.Baker Hughes: LNG orders are expected to gradually recover by 2027, and the market outlook is improving.

S&P 500 Facing More Selling Pressure from Fed Tightening

Skylar Shaw

Jun 20, 2022 14:34

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After a dramatic loss the previous day, September E-mini S&P 500 Index futures closed higher on Friday in a tumultuous session, with the benchmark index swinging back and forth over the break-even line.


The "quadruple witching," which refers to the simultaneous expiry of stock index futures, single-stock futures, stock options, and stock index options, increased market volatility.


The September E-mini S&P 500 Index closed at 3675.75 on Friday, up 4.50 points or 0.12%. The SPDR S&P 500 Trust ETF (SPY) finished the day at $365.84, up $0.77 or 0.21 percent.


Leading Indicators and Industrial Production Weaken


In economic news from the United States, the Federal Reserve issued a report indicating that industrial output rose less than predicted in May. The Conference Board's rating on main U.S. economic indicators continued to fall last month, according to a separate analysis.

More Negative Effects Are More Likely

Despite the fact that economic data was poorer than expected, there was nothing in the reports to indicate a recession was on the horizon or to prevent the Federal Reserve from continuing to tighten policy.


On Friday, Fed Chair Jerome Powell said that the central bank is committed to bringing inflation to its target of 2%. This effectively indicates that higher interest rates are on the way.

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