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On May 9, the Zug Cantonal Court of Switzerland said in a statement that on May 9, 2025, the Zug Cantonal Court of Switzerland approved the settlement agreement signed by Nord Stream 2 AG, the operator of the Nord Stream 2 natural gas pipeline, and its creditors on April 30, 2025. The statement said they could appeal the decision on the settlement agreement. Since the decision of May 9, 2025 has not yet come into effect, the state court did not provide any additional information on the suspension of the restructuring of the debt of Nord Stream 2 AG. The Nord Stream 2 offshore natural gas pipeline can transport 55 billion cubic meters of natural gas per year, but the German authorities previously stopped the certification process for the natural gas pipeline, and the United States included the Nord Stream 2 project company on the sanctions list. One of the pipelines was damaged in a strong explosion in 2022. In early 2025, the Danish Energy Agency approved the Swiss subsidiary of Gazprom, Nord Stream 2 AG, to maintain the natural gas pipeline.On May 9, Hongmeng Intelligent Driving released its April Intelligent Driving Assistance Report. The report shows that Hongmeng Intelligent Drivings total mileage in April exceeded 264 million kilometers, the user activity rate reached 88.62%, the average intelligent driving assistance mileage per user reached 561.65 kilometers, and a total of 16.254 million times of intelligent assisted parking were used.Bank of England Governor Andrew Bailey said on May 9 that the trade deal reached between the United States and the United Kingdom on Thursday was a good thing, but tariffs on most British exports to the United States are still higher than they were before last month. "In a world where actual tax rates will be higher than before all this started, this is good news," he said during a question-and-answer session at an economic conference in Reykjavik. Bailey also reiterated that the British economy is highly affected by the global economy and depends largely on the agreements reached by other countries with the United States. Baileys remarks were similar to his remarks at a press conference yesterday, when a deal seemed to be about to be reached but the details had not yet been announced.European Commission President Ursula von der Leyen: Before the summer, we expect a major boost to the capital markets.Sources: In trade negotiations, India has asked the United States to waive all current and future tariffs. India has proposed to reduce the tariff gap with the United States from nearly 13% to less than 4% under a potential trade deal.

S&P 500 (SPY) Rebounds Towards The 4,150 Level

Cory Russell

Aug 25, 2022 15:06

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In Advance Of The Jackson Hole Symposium, The S&P 500 Advances

As traders snatched up shares after the recent sharp sell-off, the S&P 500 gained some ground and surged closer to the 4,150 mark. The recovery was widespread, and today's trading saw gains across the board.


The size of the upward movement draws attention to the technical aspects of this recovery. The action was not specifically sparked by anything.

 

Because traders were hesitant to make significant trades before the Jackson Hole Symposium, which begins tomorrow, the bounce was not robust.


Markets will be significantly impacted by the news from Jackson Hole, so traders should brace themselves for volatility in the week's remaining trading sessions.

 

Technically speaking, the 20 EMA, which continues to be a strong resistance level, has prevented the S&P 500 from settling above it once again. For the S&P 500 to have a chance to develop steady upward momentum, it must get above this level.


On the support side, the S&P 500 should find its strongest support near the 50 EMA at 4080. A move below this level will indicate that a potential new downward trend for the S&P 500 is about to begin.

Energy stocks continue to perform well as WTI oil reaches new highs.


Leading energy equities including Exxon Mobil and Chevron benefited as WTI oil recovered from session lows and renewed upward momentum.


Following the company's announcement that it will begin selling goods, clothes, and accessories in Amazon's American shops, Peloton shares increased 20% today. The stock will continue to be volatile tomorrow since Peloton is expected to release results on August 25 before the market opens.


The share price of Bed Bath & Beyond increased by 18% after a WSJ story said that it had closed a financing transaction. Following this stock's quick climb to the $30 level and subsequent retreat into the $8.50 level, many traders are now underwater, and they may take advantage of the bounce to exit their holdings. Therefore, it is uncertain if Bed Bath & Beyond will be able to build on its recent upward momentum in the next trading sessions.


Nordstrom stock was among the losers, falling 20% after the firm delivered a dismal quarterly report and cut its expectations.


In general, the day was quite uneventful. When traders respond to the initial Jackson Hole news tomorrow, the market's behavior is likely to shift.

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