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A fire has broken out at an oil refinery in Russias Bashkortostan and firefighting is underway, with the production site suffering minor damage, the regional governor said.British retailer Sainsburys confirmed it is in discussions to sell its Argos subsidiary to JD.com (JD.O).The Cyberspace Administration of China is soliciting public opinions on the "Regulations on Promoting and Standardizing the Application of Electronic Documents (Draft for Comments)".On September 13th, Trump released a letter to all NATO nations and the world. He stated, "I am ready to impose significant sanctions on Russia when all NATO nations agree and begin taking the same actions, and all NATO nations stop buying Russian oil." As you know, NATOs commitment to "winning this war" is far from 100%, yet some countries are still buying Russian oil, which is truly shocking! This significantly weakens their negotiating position and leverage with Russia. This is not Trumps war (if I were president, this war would never have happened!), but Biden and Zelenskys war. My sole purpose is to help end this war and save tens of thousands of Russian and Ukrainian lives. If NATO does what I say, this war will end quickly, and all these lives will be saved!On September 13, Russian Permanent Representative to the United Nations Vasily Nebenzya revealed on the 12th that Poland acknowledged that a drone that recently entered Polish airspace may have originated from Ukrainian territory, stating that it was no secret that Ukraine "has been attempting to expand the geographical scope of the Russia-Ukraine conflict." This statement further complicates the Polish version of the Russian drones entry into Polish airspace. Several European and American experts, scholars, and politicians speculated that there may be a hidden story behind this incident.

S&P 500 Gains 4.5% As Traders Bet The Fed Will Raise Rates By 50 Bps In December

Skylar Shaw

Nov 11, 2022 16:51



As the inflation rate drops to 7.7%, tech stocks rise.


As a result of traders' reactions to the U.S. inflation reports, which showed that the inflation rate decreased from 8.2% in September to 7.7% in October, the S&P 500 is up 4.5%. The heavily tech-focused NASDAQ Composite is up 6%.


Data on inflation gave today's international markets a lot of assistance. Additionally, Fed officials gave stock market-friendly hints that the Fed would scale down rate increases.


The rise is being driven by tech stocks. Amazon and NVIDIA are up 12%. Tesla, Apple, and Microsoft are all up 6%.


As a less aggressive Fed policy would help the entire market, it is not surprising that the rally is widespread and that all market categories are increasing. As traders concentrate on riskier bets, consumer defensive stocks underperform the market.


The Michigan Consumer Sentiment report, which will be the focus of traders tomorrow, is anticipated to reveal a decline in consumer sentiment from 59.9 in October to 59.5 in December. Since today's surge has been so robust, traders will probably need a solid report to keep the recovery going. If Consumer Sentiment falls short of forecasts, traders may seek to lock in some profits before the weekend.


S&P 500 is currently probing the resistance at 3920 after managing to stabilize above the 3900 mark. RSI is still in the moderate range despite the strong rally, so there is still plenty of room for further upward momentum to develop should the proper catalysts materialize.


The S&P 500 will move toward the next resistance level at 3960 if it settles above the 3920 mark. A rise above this point will allow for the testing of the 4000 level resistance. The next resistance level at 4015 will be reached by the S&P 500 if it rises above 4000.


The S&P 500's closest support level is found at 3885 on the support side. The S&P 500 will move toward the next support at 3835 if it drops below this level. The S&P 500 may receive significant support in the 3815–3835 range because the 50 EMA is situated at 3815.

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