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On May 19, HarmonyOS announced that the cumulative delivery of the Wenjie M7 has reached 450,000 units.Futures News, May 19th - According to foreign media reports, Japanese rubber futures rose for the second consecutive trading day on Tuesday, supported by a weaker yen and tighter supply from Thailand, the worlds leading rubber producer. The Thai Meteorological Department stated that heavy rainfall is expected in the country from May 19th to 21st, which will keep supply in producing areas tight. However, the agency also expects the weather disruptions to ease from May 22nd. Meanwhile, Tianfeng Futures in China pointed out that the capacity utilization rate of butadiene rubber plants in China has increased month-on-month, leading to a short-term increase in market supply.Samsung Electronics shares fell 4.3%.Hong Kong-listed mobile game stocks continued their upward trend, with NetEase-S (09999.HK) rising nearly 3%, Bilibili (09626.HK) rising over 2%, and Kingsoft (03888.HK), Tencent Holdings (00700.HK), and others following suit.On May 19th, the Reserve Bank of Australia (RBA) stated in its latest meeting minutes that a third consecutive rate hike would provide it with room to monitor how households and businesses are responding to the impact of the Middle East conflict, which has led to soaring fuel prices. The minutes indicated that "while uncertainty remains, financial conditions are likely to tighten to some extent following this decision." According to the minutes, committee members discussed whether to raise rates or hold them steady, with eight of the nine members deciding there was more reason to raise rates to 4.35%. The minutes showed that the rate hike "will give the Committee room to observe developments in the Middle East conflict and how households and businesses are responding." The Committee acknowledged that policy action cannot alter the "short-run trajectory" of inflation. Money markets expect the RBA to raise rates at least once more this year, with a greater than 50% probability of two hikes. After raising rates again two weeks ago, the RBA has completely reversed all of last years accommodative policies.

S&P 500 Retreats Towards 3960 As Traders Focus On Target’s Results

Cory Russell

Nov 17, 2022 16:50

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Market Decline Driven by Target and Micron

As traders responded to Target's disappointing earnings report and Micron's cautionary statement, the S&P 500 retreated toward the support of 3960.


Target reported earnings that fell short of analyst expectations and announced plans to slash expenses by up to $3 billion over the next three years.


Micron stated that its capital expenditure plans had been modified in light of the market outlook's deterioration for the coming year.


As a result of the cruise line's announcement that it will issue $1 billion in convertible senior notes, Carnival was one of the worst losers in the S&P 500 today. The stock had fallen by roughly 14% as of the writing. After the epidemic, cruise firms are heavily indebted, and their debt levels will probably continue to be a big issue in the coming years.


WTI oil attempted to settle below the $85 mark today, placing substantial pressure on energy stocks. Since many of the stocks in this market category are trading close to their yearly highs, some traders seek to lock in profits.


The warning issued by Micron hurt tech stocks. The news by Micron put pressure on the stock prices of other semiconductor companies, including AMD and NVIDIA.


It should be emphasized that while Treasury yields decreased today, the stock market received no benefit from this change. It appears that the S&P 500 will require further supportive catalysts in order to stabilize above the 4000 mark.

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