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Alphabet shares surged 2.7% to a record high after Berkshire Hathaway increased its Alphabet holdings to more than three times.On May 18th, the second phase of the Shanghai Chengtou Kuanting Zhangjiang Community project officially commenced operation. With this, the largest rental housing community in Shanghai, comprising 7,635 units, has now fully entered the market. Located in the core area of Zhangjiang Science City in Pudong New Area, the Chengtou Kuanting Zhangjiang Community is surrounded by numerous companies in the fields of integrated circuits, biomedicine, and artificial intelligence. The first phase of the project, comprising 4,455 fully furnished apartments, entered the market in September 2023, and its overall occupancy rate has exceeded 95%.According to Irans Tasnim News Agency, sources close to the negotiating team said that Iran stated that despite some revisions to the draft, the US demands remain too harsh.May 18th - High mortgage rates, rising oil prices, and ongoing economic uncertainty due to the war with Iran continue to weigh on potential homebuyers. However, U.S. builders are seeing a slight improvement in their business, anticipating a surge in growth towards the end of the spring. Following a sharp decline in April, the National Association of Home Builders (NAHB) Housing Market Index showed that builder confidence in the single-family home market rose 3 points to 37 in May. However, an index below 50 is considered a sign of market pessimism. NAHB Chief Economist Robert Dietz stated, "The recent rise in long-term interest rates will continue to dampen housing demand. While some regions, including parts of the Midwest, are showing relatively strong performance, the housing market still faces significant affordability challenges."The U.S. Treasury Department announced a $275 million settlement with India’s Adani Group Enterprises Limited.

S&P 500 Is Under Pressure As Tech Stocks Are Moving Lower

Cory Russell

Nov 30, 2022 15:30

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Lower S&P 500 Settled The Assistance At 3960

S&P 500 fell toward the 3950 mark as pressure on tech firms persisted. The heavily weighted NASDAQ Composite in the technology sector is down 0.8% today.


In light of news that iPhone Pro shipments may be fewer than anticipated as a result of protests in China, Apple is down 2%. Additionally under pressure, it appears that traders are worried about Amazon's fourth-quarter results.


Growing Treasury yields are detrimental to growth stocks. The 10-year Treasury yield is attempting to stabilize above the 3.75% mark. It will advance towards the 3.80% mark if this attempt is successful, which will be bearish for the S&P 500 and NASDAQ Composite.


Energy stock prices are rising as WTI oil prices have risen beyond $78 per barrel. Halliburton, APA Corporation, and Schlumberger are driving the recovery.


From a broad perspective, if pressure on top tech stocks persists, the S&P 500 will be unable to build long-term upward momentum. Given that tech stocks are sensitive to fluctuations in Treasury yields, traders should keep an eye on movements in the Treasury market.


The yield on 10-year Treasuries appears to have found support in the range of 3.65% to 3.70% at this time, and traders must keep an eye on whether it can gain traction in the upcoming trading sessions.

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