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The yield on five-year Japanese government bonds rose 2.5 basis points to 1.850%.On April 10th, it was reported that AliExpress, Alibabas cross-border e-commerce platform, is preparing to hold a closed-door brand summit in Shenzhen on April 15th. The summit is strictly by invitation only to leading brands, and open registration is not accepted. 99 brands, including Xiaomi and Dreame, have been invited, and invitations have been disbursed. It is understood that half of the speakers are from overseas, and the combined overseas sales of the attending brands exceed one trillion yuan.On April 10th, Bank of America Securities issued a report stating that Innoscience (02577.HK) management indicated in the analyst briefing following the 2025 fiscal year results that downstream demand is expected to be strong in 2026 due to the increasing penetration rate of gallium nitride (GaN) in various end markets. Management projects total revenue for fiscal year 2026 to reach RMB 2 billion to 2.5 billion, representing year-on-year growth of 65% to 106%, with gross margin potentially further improving to over 15%. The bank reiterated its buy rating on Innoscience, but lowered its target price from HKD 108 to HKD 92. Bank of America stated that due to a more conservative gross margin forecast, it lowered its adjusted net profit forecasts for Innoscience for 2026 and 2027, but raised its revenue forecasts by 3% to 4% for the same period.On April 10th, Thai Finance Minister Ekniti Nitithanprapas stated that due to the Middle East conflict, Thailand expects oil prices to remain high for up to two years, foreshadowing sustained pressure on this net energy importer already grappling with rising costs and slowing growth. Speaking to lawmakers during a parliamentary debate following a government policy statement, Ekniti noted that energy infrastructure in the Middle East has been severely damaged, and oil and gas supplies could take one to two years to stabilize. He added that the government plans to accelerate the adoption of solar, biofuels, and other renewable energy sources to cushion the impact of high energy costs on households and businesses. The energy shock has already affected the economic outlook. Economists have begun to lower their growth forecasts for Thailand as rising fuel costs have dampened consumption and disrupted exports and tourism—two core drivers of the Thai economy.On April 10th, according to the National Cybersecurity Notification Center, the center detected a recent surge in supply chain poisoning attacks. Targets included the API development tool Apifox, the Python library LiteLLM, and the JavaScript HTTP library Axios, involving two core supply chain scenarios: open-source software repositories and commercial tools. The Axios poisoning incident, in particular, occurred because many AI applications and plugins, such as OpenClaw, directly rely on this library, allowing the risk to spread further to end users through the dependency chain. These three supply chain poisoning incidents share common characteristics: high stealth, wide impact, high severity, and rapid spread, potentially causing serious harm such as credential theft, remote code execution, and sensitive data leakage.

S&P 500 (SPY) Tries To Gain More Ground Despite Powell’s Comments

Alice Wang

Sep 09, 2022 15:45

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S&P 500 Attempts To Maintain Its Rebound

As top tech companies are once again under pressure, the S&P 500 is fluctuating between gains and losses today. Amazon, Alphabet, and Apple are all down roughly 1%.


Today's traders concentrated on Fed Chair Jerome Powell's hawkish remarks, which emphasized the significance of the Fed's battle against inflation. Growth stocks suffered as a result of rising Treasury rates, which also placed some pressure on the S&P 500.


It should be observed that the financial and healthcare sectors both exhibit a noticeable increase in stock demand. Big banks like JP Morgan, Citigroup, and Morgan Stanley, for instance, are up today by approximately 2%.


S&P 500 retreated after failing to stabilize above the 4000 mark. The S&P 500 has found support around 3950 and resistance at 3980 at the moment. The S&P 500 will acquire further downward momentum and head toward the next support level at 3915 if it drops below the 3950 mark.


To the upside, the S&P 500 has to close above 4015 in order to have a chance of gaining long-term upward momentum. A rise over 4015 would pave the way for the 20 EMA at 4035, the next resistance level, to be tested.

Snap Rallies as Memo Highlights Ambitions for Growth

As a result of the market's response to the internal message that Snap CEO Evan Spiegel delivered, Snap is up more than 7% today. The corporation intends to increase the user base to 450 million by the end of the next year, the letter states.


Following the company's announcement of its new partnership with the cryptocurrency exchange FTX, Gamestop has also had some support today and tried to settle over the $26 mark. It remains to be seen if the new crypto relationship will increase interest in the meme stock, since Gamestop stock has been under significant pressure over the last several weeks.


From a broad perspective, the market needs more triggers to keep bouncing back. Trading will probably continue to be quite volatile before the Fed decision, which will be announced on September 21. While traders look ready to buy stocks after the major pullback, the hawkish Fed may limit their appetite for risk.

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