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Hong Kong Stock Exchange documents show that Standard Chartered Group (02888.HK) repurchased a total of 743,500 shares on other exchanges on July 11, spending 9.5 million pounds.The 40-year Japanese government bond yield rose 18 basis points to 3.505% during the day.The onshore RMB closed at 7.1693 against the U.S. dollar at 16:30 on July 14, up 17 points from the previous trading day.UBS: The ECB is expected to cut interest rates by 25 basis points in September, compared with the previous forecast of a rate cut in July.July 14, according to the British "Times", the Governor of the Bank of England said that if there are signs of a clear slowdown in the job market, the Bank of England is ready to cut interest rates more significantly. Bailey said there was "consistent" evidence that companies "adjusted employment" after Chancellor of the Exchequer Reeves raised employers national insurance contributions. He said that Britains economic growth lags behind its potential, creating "idle space" that will help reduce inflation. Bailey emphasized that the payroll tax increase in April had a significant impact on corporate layoffs, forcing companies to cut pay increases to cope with cost pressures. He said that companies are "responding by adjusting employment scale, working hours, and implementing pay increases that are lower than those without the tax increase." Bailey admitted that after the June rate cut, some people called for a faster rate cut. He said: "I do believe that the interest rate path is downward, but we continue to use the term gradual and cautious because some people say to me, Why do you cut interest rates when inflation is above target?"

S&P 500 (SPY) Declines Towards 3900 As Treasury Yields Rise

Skylar Shaw

Sep 16, 2022 14:55

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S&P 500 is headed for lows in September

As Treasury rates continue to rise in advance of the Fed Interest Rate Decision, which will be announced on September 21, the S&P 500 is falling today.


As the natural gas and oil markets have seen sell-offs, energy equities have been under pressure. As a consequence, top oil companies Exxon Mobil and Chevron are trading down today by around 2%.


Top tech companies including Apple, Microsoft, Alphabet, and Amazon are all now down 1% to 2%.


Testing new lows is NVIDIA. The price of tech stocks will decline as interest rates rise.


From a broad perspective, traders continue to be concerned that the Fed's aggressive rate increases would stunt economic development. According to the FedWatch Tool, there is a 60.2% chance that the Fed's target rate, which is now between 225 and 250 bps, will increase to between 375 and 400 bps in November.


It is not unexpected to see that traders are concerned about this possibility given that aggressive rate rises might put substantial pressure on economic activity and harm company earnings.

The S&P 500 Is Prepared To Examine The Support Level At 3900

The S&P 500 managed to break through the support level at 3920 and is now attempting to test the next support level at 3900. The S&P 500 will go toward the support at the most recent lows at 3885 if it can manage to settle below this level. The S&P 500 will be pushed toward the support at 3850 if the support at 3885 is successfully tested.


The prior support level at 3920 will act as the first resistance level for the S&P 500 on the upswing. If the S&P 500 is able to hold above this point, it will go in the direction of the resistance at 3950. The next resistance level at 3980 will be tested if a move is made over the barrier at 3950.

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