EUR/USD 1.16650
0.027%
Gold 4729.94
0.227%
Oil 91.209
-0.035%
USD/JPY 158.757
0.119%
GBP/USD 1.33954
0.007%
GBP/JPY 212.666
0.139%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
April 9th - GeoQuant, a risk analytics firm affiliated with Fitch Ratings, stated that high fuel prices ahead of state elections are putting pressure on subsidy policies, posing rising fiscal and political risks to Malaysia. The government has already cut fuel subsidy quotas by one-third to control costs and maintain fiscal discipline. However, public concerns about fuel prices could intensify ahead of the elections. If fuel prices fall, a prudent policy response could support Prime Minister Anwar Ibrahim and potentially pave the way for early federal elections. However, if fuel prices remain high, it could force the government to implement more austerity measures, putting pressure on state elections and potentially postponing the federal elections scheduled for February 2028.Hong Kong-listed auto stocks continued their upward trend, with Geely Automobile (00175.HK) and Chery Automobile (09973.HK) rising by more than 4%, NIO-SW (09866.HK) rising by more than 3%, and Leapmotor (09863.HK) and others following suit.The SC crude oil futures contract fell 4.00% intraday, currently trading at 637.50 yuan per barrel.Former Honduran President Hernández: The U.S. Court of Appeals has overturned his guilty verdict and ordered the judge to drop the charges against him.On April 9th, economists at Mizuho Securities stated that while the upward pressure on oil prices caused by the Middle East conflict is significant, government subsidies are expected to largely offset its impact on Japans energy costs. Meanwhile, the impact on commodities (mainly food) will gradually emerge, with inflation in these categories projected to peak between spring and summer 2027, implying a lag of four to six quarters. They added, "As security in the Strait of Hormuz and full normalization of shipping are expected to take time, crude oil prices are likely to remain high in the short term."

S&P 500 (SPY) Retreats As Treasury Yields Test New Highs

Jimmy Khan

Sep 23, 2022 14:35

微信截图_20220923142724.png

Consumer Cyclical Stocks Drop Amid Fears of a Recession

As traders continue to pay attention to the aggressive Fed, the S&P 500 is still under pressure. A further deterrent for markets was today's Initial Jobless Claims data, which showed that 213,000 Americans applied for jobless benefits in a week. The Fed is being forced to boost rates rapidly in an effort to temper demand because the employment market is still tight.


Consumer cyclical equities, which were among the losses yesterday, are now under significant pressure. In today's trading session, shares of Expedia, Etsy, and Caesars Entertainment are down 5–8%. When customers cut down on "unnecessary" expenditures, the market gets ready for a recession.


Treasury rates are steadily increasing, which is negative for technology equities. The yield on 10-year Treasuries is now attempting to rise beyond the 3.70% mark. Such yields last seen in 2011 before this.

Among the greatest losers in the IT industry are AMD and NVIDIA. Traders worry that falling PC demand would adversely affect their performance.


The price of energy equities is rising right now. Refining stocks like Valero Energy, Phillips 66, and Marathon Petroleum are among the market leaders.


From a broad perspective, the market is still gloomy. Rising Treasury rates show that bond market participants are continuing to be ready for the Fed's aggressive rate increases. Stocks can come under greater pressure if Treasury rates reach fresh highs.

Tests Support At 3750 For S&P 500

The S&P 500 is now attempting to settle below the 3750 level of support. In the event that this effort is successful, it will move in the direction of the next support, which is at 3725. A move below this point will allow for a test of the support level at 3700. If the S&P 500 drops below 3700, it will move in the direction of support at 3660.


The S&P 500's closest upward resistance level is found at 3780. The S&P 500 will go toward the next barrier at 3800 if it rises over this point. If this level is successfully tested, the S&P 500 will move closer to the 3825 resistance level.

Suggestion