EUR/USD 1.14153
0.000%
Gold 4108.33
0.000%
Oil 71.472
0.000%
USD/JPY 161.729
0.000%
GBP/USD 1.33978
0.000%
GBP/JPY 216.686
0.000%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
July 12 – Jorge Rodríguez, president of the Venezuelan National Assembly, said at a press conference in Caracas, the Venezuelan capital, on July 11 that the two powerful earthquakes that struck the country on June 24 had killed 4,333 people and injured 16,740. Rodríguez stated that the reconstruction efforts are extremely costly, with approximately 25,000 houses awaiting repair. Acting President Delcy Rodríguez is seeking to unfreeze Venezuelan assets seized overseas, including its gold reserves frozen at the Bank of England, for use in the reconstruction efforts.Israeli Prime Minister Benjamin Netanyahu: (Statement on the death of U.S. Senator Lindsey Graham) Israel has lost one of its greatest friends. The United States has lost a great patriot. I have lost a dear friend.The UK Maritime Authority: The security threat in the Strait of Hormuz is extremely serious.July 12th - Typhoon Bavi, the ninth typhoon of the year, made landfall twice in Zhejiang Province, on the night of July 11th and early morning of July 12th, in Yuhuan City, Taizhou, and Yueqing City, Wenzhou. Many areas in Zhejiang Province experienced severe storms and heavy rainfall, causing serious disruption to local production and daily life. On July 12th, the National Disaster Prevention, Mitigation and Relief Committee activated a Level IV national emergency response. To implement General Secretary Xi Jinpings important instructions on flood control and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the disaster losses in Zhejiang Province, the National Development and Reform Commission urgently allocated 100 million yuan from the central budget to support Zhejiang Province in post-typhoon emergency recovery efforts. This funding will primarily be used for the emergency reconstruction of damaged roads, water conservancy infrastructure, and public service facilities such as schools and hospitals in the disaster area, aiming to restore normal production and daily life as quickly as possible.July 12th - Recently, affected by Typhoon Maysak (No. 10 of this year), many parts of Guangxi have experienced severe rainstorms and floods. To implement General Secretary Xi Jinpings important instructions on flood prevention and disaster relief, and based on the "National Natural Disaster Relief Emergency Plan" and the extent of disaster losses in Guangxi, the National Development and Reform Commission, on top of the 100 million yuan emergency allocation from the central budget on July 6th, has allocated an additional 100 million yuan to support Guangxi in further improving post-disaster emergency recovery efforts and promoting the rapid restoration of normal production and daily life.

S&P 500 (SPY) Dives To 3850 As FedEx Report Highlights Recession Risks

Alice Wang

Sep 19, 2022 15:13

微信截图_20220919150701.png

S&P 500 Continues to Face Serious Pressure Just before the weekend

Following a poor FedEx fiscal Q1 report, the S&P 500 index climbed around the 3850 mark. Analyst expectations were not met by the report. Additionally, on June 23, 2022, FedEx retracted their profitability prediction for the fiscal year 2023.


The macroeconomic instability in Asia and the service issues in Europe, according to FedEx, "had a notably negative effect on performance, resulting in a revenue shortfall in this area of roughly $500 million compared to company estimates."


The price of FedEx shares has dropped by 22% during today's trade. The shares of United Parcel Service is also seeing significant pressure.


The FedEx report increased concerns about a worldwide economic downturn. It is hardly unexpected that today's consumer cyclical equities are declining. International Paper Company and Packaging Corporation of America both had greater than 11% declines.


Other major losses in today's trade include Boeing, which is down 4%, and General Electric, which is down 5%.


In the meanwhile, Treasury rates continue to rise as traders remain uneasy before the Fed meeting. Higher rates are detrimental to the declining tech stocks. Meta was able to plummet below the $150 mark and is now testing annual lows around the $146 mark. Today's drop in Amazon stock is 3%.

Tests Support At 3950 for S&P 500

S&P 500 is now testing the next support level at 3850 after successfully settling below the support at 3885. The S&P 500 will go toward the next support level, which is at 3825, if this test is successful. S&P 500 will be pushed toward the support at 3800 if a move below 3825 occurs. S&P 500 will go toward the next support at 3780 if it drops below this level.


The prior support level at 3885 will act as the first resistance level for the S&P 500 on the upswing. The S&P 500 will go toward the resistance of 3900 if it is able to stabilize again above 3885. The S&P 500 will be pushed toward the next resistance level at 3920 if the resistance at 3900 can be successfully tested.

Suggestion