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On July 10th, the National Health Commission issued the "Notice on Strengthening the Management of Continuous Medication Use for Residents." The Notice provides policy support for establishing a scientific and standardized mechanism for managing continuous medication use for residents, forming a fair, accessible, systematic, continuous, high-quality, and efficient medication service system. It makes specific provisions in three main aspects: First, establishing and improving a multi-level management mechanism. Based on the actual situation of information technology construction at the provincial, municipal, county, and closely integrated medical consortium levels, the functions of continuous medication use management for residents within the region will be expanded. Second, promoting the co-construction and sharing of medication information, mainly including prioritizing the use of national standards for data collection, recording complete medication information for residents, standardizing individualized medication management for patients, establishing and improving regional medication monitoring and analysis mechanisms, assisting in improving clinical pharmacy service capabilities, strengthening the supply of convenient and beneficial services for residents, and establishing a clinical medication feedback mechanism. Third, standardizing the entire process management of continuous medication use for residents, mainly clarifying the management responsibilities of health administrative departments at all levels and the leading hospitals of closely integrated medical consortia.The National Bank of Kazakhstan reported that Kazakhstans net gold and foreign exchange reserves in June totaled $60.161 billion (a 7.8% decrease month-on-month).On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes to conduct research and development on cutting-edge low-carbon, zero-carbon, and negative-carbon technologies. Focusing on key areas such as the clean and efficient utilization of fossil fuels and the large-scale utilization of renewable energy, the plan calls for increased efforts in forward-looking and strategic research on major cutting-edge technologies, accelerating breakthroughs in key technologies such as supercritical carbon dioxide power generation and CCUS, tackling key technologies for flexible and efficient wind and solar hydrogen production and large-scale safe hydrogen storage, and achieving breakthroughs in core technologies such as green hydrogen synthesis catalysis, low-carbon synthesis processes, and long-distance storage and transportation.JPMorgan Chase lowered its price target for Chevron (CVX.N) from $224 to $190.On July 10th, the National Energy Administration issued the "Action Plan for Energy Conservation and Carbon Reduction in the Energy Sector (2026-2028)". The plan proposes optimizing the industrial structure of oil refining and coal-to-oil gas. The oil refining industry will adhere to capacity reduction and replacement, and newly built refineries must meet benchmark energy efficiency standards. It will strengthen coal-to-oil gas production capacity and technology reserves, improve conversion efficiency, and promote energy consumption and carbon emissions per unit of product to reach or exceed industry-leading values. It will accelerate the upgrading and transformation of the oil refining and coal-to-oil gas industries. It will orderly promote the replacement of steam turbine drives with electric drive systems. It will promote the deep integration of coal-to-oil gas, oil refining, and new energy industries, encourage related projects to carry out large-scale replacement of green electricity and green hydrogen, and gradually reduce the use of fossil fuels for hydrogen production. It will promote the large-scale application of CCUS (Coal-to-Gas and Gas).

S&P 500 Pulls Back As Traders Worry That China’s COVID Curbs May Hurt Global Growth

Skylar Shaw

Nov 22, 2022 15:49

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At the beginning of the week, the S&P 500 is declining

As traders worried that the growing number of coronavirus infections in China might hinder global economy and cause further supply chain issues, the S&P 500 retreated toward the 3940 level. The heavily tech-weighted NASDAQ Composite fell more than 1% as a result of a significant sell-off in the tech industry.


Energy stocks, which have come under intense pressure since a WSJ story said that Saudi Arabia and other OPEC+ members may negotiate a production increase of 500,000 bpd, were the main driver of today's decline.


Saudi Arabia has categorically refuted this allegation, and WTI oil has now risen back around the $80 mark after falling as low as $75.50. Energy stock prices, meanwhile, continued to decline. In today's trading session, shares of Diamondback Energy, Halliburton, and Marathon Oil fell by 3% to 5%.


Leading tech stocks have decreased today as well. Tesla, which is vulnerable to news out of China, fell 6% and hit annual lows below $170.


Following Bob Iger's appointment as CEO once again, Disney stock opened close to $100. After the huge increase, the stock fell towards the $97 mark as investors took their profits.


From a broad perspective, additional encouraging triggers are required for the S&P 500 to keep rising. Before Thanksgiving, when trading activity is often slower, it is to be seen whether traders would discover such catalysts.