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The Federal Aviation Administration announced the suspension of all SkyWest Airlines flights.Conflict Details: 1. The attack on a Ukrainian naval vessel has resulted in two deaths. 2. Russian Ministry of Defense: Russian air defense forces intercepted and destroyed 54 Ukrainian drones the previous night. 3. Ukrainian military: A nighttime attack on fuel facilities in Russias Bryansk region was carried out. 4. Russian Defense Minister: The Russian militarys advance in Ukraine has accelerated, advancing approximately 600 to 700 square kilometers per month. Ukraines military and industrial infrastructure has suffered significant damage. Other Developments: 1. Market News: Ukrainian President Zelensky and European leaders will meet with Trump next week. Zelensky wants legally binding security guarantees. 2. EU High Representative for Foreign Affairs and Security Policy Kallas: Member states will decide on deploying troops to Ukraine. 3. Swedish Defense Minister: We can contribute in the air or maritime domains. 4. Estonian Defense Minister: Russia cannot dictate what we do in Ukraine. NATO membership would be the best security guarantee for Ukraine. 5. Russia stated that the current state of Russia-US relations remains the main obstacle to cooperation on nuclear arms control. 6. Russian Defense Minister: The Ministry of Defense will hold a meeting in December to report on its work performance to Russian President Putin. According to the Wall Street Journal: Spirit Airlines is preparing to file for bankruptcy again.The Dow Jones Industrial Average closed down 92.02 points, or 0.20%, to 45,544.88 on Friday, August 29; the S&P 500 closed down 41.60 points, or 0.64%, to 6,460.26 on Friday, August 29; and the Nasdaq Composite closed down 249.61 points, or 1.15%, to 21,455.55 on Friday, August 29.The Federal Reserve announced on Friday, August 30, that it had finalized new capital requirements for the largest U.S. banks following the June stress test, but added that Morgan Stanley (MS.N) is seeking a reassessment of its upcoming capital requirements. The new capital requirements will take effect on October 1 and could be updated if the Fed adopts a proposal under consideration to average the results of two years of stress tests. Based on its annual financial stress test of large banks, the Fed assesses banks performance under a hypothetical economic downturn scenario and sets their capital buffers accordingly. Morgan Stanley is requesting a reconsideration of its results, and the Fed will announce its decision by the end of September.

S&P 500 Retreats As Tech Stocks Remain Under Pressure

Eric Stanberg

Dec 20, 2022 17:59



The S&P 500 tests new lows as traders continue to be alarmed by the aggressive Fed.


As investors continued to dump tech stocks, the S&P 500 dropped toward the 3815 level. Over 1% of the heavily tech-weighted NASDAQ Composite dropped during today's trading.


The yield-sensitive tech stocks were negatively impacted by today's increase in Treasury yields. As they lower risks, traders' top worry is still the hawkish Fed.


Large-cap stocks like Amazon and Meta are down more than 2% in today's trading session. While this is happening, energy stocks are rising as WTI oil was able to settle over the $75 level.