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August 23 - According to reports from the UK on the 23rd local time, Transtrike stated that due to a power outage at its control center in Birmingham, the company suspended operations starting on the morning of the 23rd. Trains on "almost all" lines were canceled or delayed, and the resumption time will be announced later.The U.S. National Hurricane Center reports that Tropical Storm Iselle has formed in the waters off Mexico.August 23 - According to the Nanning Municipal Emergency Management Committee, at 8:00 PM on August 23, the water level at the Nanning Hydrological Station on the Yongjiang River reached 71.41 meters. It is predicted that the Nanning urban section of the Yujiang River will experience flooding exceeding the warning level (73.0 meters) on the morning of August 24. In accordance with the provisions of the "Nanning Yujiang Flood Control Emergency Plan," and with the approval of the leadership of the Nanning Municipal Emergency Management Committee, it was decided to upgrade the Nanning Yujiang Flood Control Emergency Response from Level IV to Level III at 8:00 PM on August 23. All counties (cities, districts), development zones, and relevant member units are requested to carry out flood prevention work according to the relevant provisions of the plan and their respective responsibilities to ensure the safety of peoples lives and property.August 23 (Tasnim News Agency) – Iranian Islamic Revolutionary Guard Corps spokesman Mohbi stated that Iran has developed countermeasures against various hostile actions by the United States, including measures to address economic pressure. Speaking at a press conference in Karaj, a city in northern Iran, Mohbi said that the USs recent announcement of launching its "most severe economic war" against Iran actually indicates that the US has failed to achieve its military objectives. He added that the US has imposed economic sanctions on Iran for 47 years, and the current statements regarding "economic war" are intended to exert psychological influence on the Iranian people.August 23 – According to the official WeChat account of the Chinese Embassy in Saudi Arabia, several Chinese citizens have recently been detained by Saudi authorities for failing to declare large sums of cash they were carrying upon entry and exit from Saudi Arabia, as required by the newly revised Anti-Money Laundering Law Enforcement Regulations. Furthermore, cases of telecommunications fraud, currency exchange scams, and robberies targeting Chinese citizens are frequent. The Chinese Embassy in Saudi Arabia solemnly reminds Chinese citizens in Saudi Arabia to abide by local laws and regulations and to be vigilant against all types of fraud.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Remain Under Pressure As Pullback Continues

Steven Zhao

Feb 24, 2023 15:33


S&P 500

As dealers responded to the weaker-than-expected GDP figures, the S&P 500 hit new lows. In contrast to the average estimate of 2.9% among analysts, the second estimate of the fourth-quarter GDP Growth Rate report revealed that GDP grew by 2.4% quarter-over-quarter. Initial Jobless Claims stayed below 200,000, demonstrating the resilience of the labor market.


Curiously, after a failed effort to break through the crucial 4.00% mark, the yield on 10-year Bonds fell toward 3.90%, but this move did not give equities enough support.


Energy equities were able to pick up positive momentum as crude markets recovered from yesterday's sell-off, despite the fact that most market sectors are moving downward during today's trading session.


Despite NVIDIA's stock's good performance, which increased 13% following a robust earnings report, NASDAQ retreated towards the 12,000 mark. The business anticipates that the growth of AI will increase demand for its goods.


Among the largest losses in the NASDAQ today is eBay, which is down 6%. Despite exceeding expert expectations for profits and sales, the company came under heavy pressure as traders concentrated on the dismal full-year outlook.


Dow Jones Dow Jones dropped below the 33,000 mark and continued to trend downward as the decline went on.


After the most recent results report, dealers continued to unload shares of the largest store, placing substantial pressure on Walmart stock.


Among the Dow Jones components today, Chevron had the greatest performance due to the robust recovery in the energy markets.

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