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The European Central Bank will release the minutes of its monetary policy meeting in ten minutes.On August 27, the 72nd meeting of the Standing Committee of the 14th National Peoples Congress was held at the Great Hall of the People in Beijing. Chairman Zhao Leji presided over the meeting. The meeting heard reports from Xin Chunying, Chairman of the Constitution and Law Committee of the National Peoples Congress, on revisions to the draft Medical Security Law, the draft Law on Farmland Protection and Quality Improvement, the draft revision of the Agricultural Law, the draft revision of the National Defense Mobilization Law, and the draft decision on amending the Lawyers Law. The meeting also reviewed the relevant draft amendments.On August 27, a symposium on deepening cooperation between central state-owned enterprises (SOEs) and Chongqing Municipality was held at the China National Convention Center in Beijing. Three project lists were released at the event: the "List of Signed Cooperation Projects between Central SOEs and Chongqing Municipality," the "List of Cooperation and Matching Projects between Central SOEs and Chongqing Municipality," and the "List of Urban Opportunities for Chongqing Municipality," totaling 193 projects with a total investment exceeding 750 billion yuan. An official from the Chongqing State-owned Assets Supervision and Administration Commission (SASAC) stated that the next step will be to further deepen cooperation between central SOEs and Chongqing municipal SOEs, focusing on implementing national strategies such as the Chengdu-Chongqing Economic Circle and the Western Land-Sea New Corridor. The cooperation will be comprehensively enhanced in key areas such as advanced manufacturing, technological innovation, and major infrastructure construction, promoting the deep integration and synergistic effect of central SOEs industrial, capital, and technological advantages with Chongqings locational, resource, and market advantages, creating more landmark achievements of mutual benefit and win-win results.U.S. Department of Defense policy chief Colby: Europe will continue to be an important U.S. interest.U.S. Department of Defense policy chief Colby: Poland, Germany, and the Netherlands are making massive defense investments.

S&P 500 Gains Ground Ahead Of CPI Data

Jimmy Khan

Dec 13, 2022 17:11


At the beginning of the week, stocks rise

As traders got ready for tomorrow's CPI report, the S&P 500 crept closer to the 3960 mark. The tech-heavy NASDAQ Composite was up by 0.35% in the meanwhile.


Energy stock rebounds are the main factor today. WTI oil was able to surpass the $73 mark as markets concentrated on the Keystone pipeline interruption. In today's trading, APA Corporation, EQT Corporation, and Schlumberger are all up 3–4%.


Even while Treasury yields have increased, tech stocks are also increasing. Although Microsoft is up approximately 2% today, the recovery in tech equities is mainly among the companies with smaller market capitalization.


As traders continue to be concerned about declining demand for the company's products, Tesla is among the worst losers today. Currently, Tesla stock is attempting to hit the $166 level, which marks the yearly lows.


The fact that the CPI report is being issued tomorrow before the Fed Interest Rate Decision suggests that it will have a significant effect on the market. Analysts anticipate that November's inflation rate will drop from 7.7% in October to 7.3%. Data on inflation will have a significant impact on the market, and traders should be ready for quick changes.

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