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Governor of Kharkiv, Ukraine: Russias attack on the Kharkiv region on Sunday has killed 10 people.[Armed conflict hits domestic industrial system hard, Sudans trade deficit reaches 4.8 billion US dollars in the first quarter] According to Sudanese media reports on the 19th local time, Sudans Minister of Trade and Supply Yusuf said that Sudans trade deficit in the first quarter of this year reached 4.8 billion US dollars. Among them, the total export volume was 3.8 billion US dollars and the total import volume was 8.6 billion US dollars. It is understood that Sudans ongoing armed conflict has destroyed the countrys industrial system, and 85% of Sudans factories have been damaged. This has forced the Sudanese government to import large amounts of daily necessities such as sugar, tea, milk, and flour from overseas to meet domestic demand. Yusuf said that the influx of Sudan also includes uncontrolled imported goods, which has led the Sudanese Ministry of Trade and Supply to implement stricter import and export control measures.According to the Times of Israel: Azmi Abu Daqqa, a senior Hamas operative, was killed in an Israeli airstrike.[The Dow Jones Industrial Average closed above 40,000 points for the first time, and US stock analysts continue to be bullish] The US blue-chip stock index Dow Jones Industrial Average closed above 40,000 points for the first time in its 128-year history, a milestone reached as the bull market continues to advance. After the inflation report rekindled the markets hope that the Federal Reserve would cut interest rates, the stock market hit its longest weekly positive cycle since February this year. Strong corporate earnings also drove the stock market higher. "We maintain our bullish stance." Blue-chip stock analyst Larry Tentarelli said. He pointed out that "if this situation continues," it will lay the foundation for the Dow Jones Index to stand above 42,500 points by the end of this year. Mark Newton, an analyst at the US "Fund Strategy" global consulting firm, said: "The bullishness is correct, and the market consolidation will make the S&P 500 more attractive to further rise and stand above 5,400 points. It is a difficult choice for investors to choose to wait for the possible consolidation. But I think the facts will prove that any weakness is temporary."Ukrainian sources: Ukraines Security Service used military drones to hit an oil refinery and an airport in the Krasnodar region in southern Russia in a nighttime attack.

S&P 500 Rallies 0.5%, Netflix Gains Nearly 7% on Upbeat Subscriber Outlook

Cory Russell

Jul 21, 2022 15:17

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All Major US Indices Remain Above 50DMA as S&P 500 and Nasdaq 100 Rally

The major US market indices were mixed on Wednesday, with the S&P 500 and Nasdaq 100 indexes doing better than the Dow Jones Industrial Average despite being more heavily weighted toward large technology and growth stocks. The first two were both successful in reaching their highest points in almost a month.


The fact that all three of the main indexes were able to retake their 50-Day Moving Averages for the first time since April is one important finding from the US equities markets on Wednesday, suggesting that the current bullish change in momentum may have more legs.


According to analysts, the main indexes are benefiting from the US earnings season's better-than-expected start. After the closing, the electric vehicle manufacturer Tesla is scheduled to release its profits.


Data suggesting that existing house sales fell to a two-year low in June after surging to record highs during the epidemic last summer were ignored by US equities markets. The US home market has recently suffered from a sluggish economy, a deteriorating cost-of-living issue, and a dramatic increase in interest rates.


Despite the grim forecast, most existing houses sold in June were listed for less than a month, according to LPL Financial's chief economist Jeffrey Roach, who was reported by Reuters. This suggests that despite a weakening economy, there is still a fundamental need for house ownership.

Large-Cap Growth Stocks Are the Front-Runners

Stronger than anticipated Netflix results sent the company's share price higher, driving the rise in the US equities markets on Wednesday. These huge tech/growth stock dominated information technology and consumer discretionary GICS S&P 500 sectors. The streaming service said that it lost roughly 1 million customers in the second quarter but anticipated that its subscriber count will begin to increase once again in the third quarter.


Other members of the once-dominant FAANG group of companies rallied in response to Netflix's positive Q3 projection. FAANG stands for Google, Apple, Amazon, Netflix, and Facebook (now known as Meta Platforms) (whose parent company is called Alphabet). By the end of the next week, Alphabet, Meta, and Amazon will all have released their results.


Semiconductor manufacturers were another significant outperforming segment of the US equities market. Analysts pointed to the fact that the US Senate approved measures aimed at bolstering the US semiconductor sector on Tuesday as the reason for the Philadelphia Semiconductor index's increase of more than 2% on Wednesday.


The share price of Merck & Co. decreased after the cancer treatment medicine Keytruda failed to reach end-point goals in a late-stage neck and head cancer study, one of the significant individual movers.

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