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February 7th - Ukrainian President Volodymyr Zelenskyy posted a message on the 7th local time, stating that he received a briefing from the Ukrainian negotiating team following their talks with the US and Russia. The Ukrainian negotiating team provided him with a detailed overview of the progress of the negotiations. He stated that Ukraine needs to achieve substantial results, and one of the most important foundations for a peaceful resolution is effective security guarantees.February 7th - While the control dispute at Nexperia remains unresolved, another Chinese acquisition of a British chip company is attracting increasing attention. February 7th was the deadline set by the UK government for the mandatory sale of the FTDI acquisition, subject to national security review. This overseas acquisition by China, completed in 2021, is now entering its final countdown to mandatory sale. Back in November 2024, the UK government formally notified the Chinese consortium that it must transfer all its shares in Future Technology Devices International Limited (FTDI), a UK USB bridge chip company, by the stipulated time. The UK cited the National Security and Investments Act (NSIA), which came into effect in 2022, citing "potential threats to national security." An industry insider stated that the Chinese consortium has been trying to secure more time. The latest extension application is still awaiting a response from the UK, and based on past experience, there is still a certain probability of the extension being approved.February 7th - It was learned from the Ministry of Water Resources that, in order to further improve the construction, operation, and management mechanisms of major water conservancy projects, the Ministry of Water Resources and the National Development and Reform Commission recently issued the "Implementation Opinions on Improving the Construction, Operation, and Management Mechanisms of Major Water Conservancy Projects." Major water conservancy projects are important infrastructure for promoting high-quality economic and social development, playing a crucial supporting role in ensuring flood control, water supply, food security, and ecological security. The opinions are divided into four parts: general requirements, improving the high-quality construction mechanism, improving the high-level operation mechanism, and improving the high-efficiency management mechanism. The opinions require that, focusing on the national water network construction goals of "complete systems, safety and reliability, intensive and efficient, green and intelligent, smooth circulation, and orderly regulation," the government should guide and the market should participate, coordinating "hard investment" and "soft construction," improving the construction and operation mechanism of projects with clear responsibilities, diversified investment, and a focus on both quality and efficiency, and forming a comprehensive, data-driven, and efficient management and guarantee system to achieve high-quality construction, high-level operation, and high-efficiency management of major water conservancy projects.Algeria plans to cancel its air services agreement with the United Arab Emirates.February 7th - A Beijing Municipal Market Supervision Work Conference was held on February 7th. The conference revealed that this years focus will be on investigating and punishing monopolistic practices in public utilities and the platform economy, as well as addressing prominent issues such as unfair competition online.

S&P 500 Rebounds As Tech Stocks Rally

Skylar Shaw

Dec 30, 2022 15:35


Stocks Rise Following Yesterday's Sell

As tech companies resumed upward momentum, the S&P 500 rallied in the direction of the barrier at 3860. The NASDAQ Composite, which is heavily weighted toward technology, increased 2.6% today.


Tax-loss selling most certainly caused yesterday's decline. Because deals take longer to settle, December 28 was the last day for tax-loss harvesting. Speculative traders took advantage of the fact that tax-loss sellers were not present today to drive stock prices upward.


The Initial Jobless Claims data, which matched analyst expectations, may have given markets further boost.


The recovery today is widespread, and all market categories are heading upward. Tech companies, which are making gains as Treasury rates retreat from recent highs, are driving the recovery.


Tesla, which was able to escape its annual lows, is among the notable gainers. The price of Tesla shares has increased by more than 5% so far today. Ford and General Motors were able to develop significant upward momentum as well.


Interestingly, despite declines in the oil and natural gas markets, energy equities are also rising. The market is in a positive mindset, and traders are eager to purchase equities across all industries. It should be mentioned that the trading volume is low since many traders have departed for holiday.


Traders who are more long-term oriented should not pay too much attention to market movements in the last weeks of the year.