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On December 19th, Federal Reserve Chairman Williams stated on Friday that certain "technical factors" may have distorted the November Consumer Price Index (CPI) data, causing it to be lower than actual levels. Williams said, "There are some specific real factors related to their inability to collect data in October and the first half of November. Because of this, I think certain categories of data were distorted, which could have pulled the CPI data down by about 0.1 percentage points." Williams also stated that the U.S. economy is currently in "good shape" and hinted that he "will eventually see" interest rates decline. However, he emphasized that he is in no hurry to adjust monetary policy.On December 19th, the State Administration for Market Regulation issued the "Guidelines for Compliance of Pricing Behavior of Urban Water, Electricity, and Gas Supply Utilities," further regulating the pricing behavior of urban public utilities. The pricing behavior of these utilities directly affects the vital interests of the people and the order of fair market competition. Addressing issues that have drawn strong public criticism, such as failure to comply with government-set prices, passing on operating costs, and charging unreasonable fees, the "Guidelines" clarify the purpose, scope of application, and price definitions. It emphasizes that the pricing behavior of water, electricity, and gas supply utilities must comply with laws, regulations, rules, and relevant policies. The guidelines guide water, electricity, and gas supply utilities and their affiliated or entrusted engineering and installation companies to conduct pricing activities in accordance with laws and regulations, protecting the legitimate rights and interests of users and promoting the healthy and sustainable development of the water, electricity, and gas supply industries. This includes clarifying the operating principles of public utilities, strictly implementing price standards, standardizing pricing behavior for self-priced projects, establishing and improving internal systems, and strengthening risk management.On December 19th, Russian President Vladimir Putin stated that "European political elites siding with the Democratic Party" interfered in the 2024 US presidential election. At his annual press conference, Putin explained that direct European interference in the US election was "obvious, conspicuous, and open." He emphasized that the continental European elites support Kamala Harris, therefore the current state of relations between EU officials and US President Trump is "not surprising." Putin denied allegations of Russian interference in the 2016 US election, noting that "all congressional investigations have come to nothing." On the other hand, Europeans supported Harris "quite directly, even brazenly."Federal Reserves Williams: I think interest rates will eventually fall.Federal Reserves Williams: The Feds current asset purchases are not intended to influence long-term interest rates.

NASDAQ Index, S&P 500, Dow Jones Analysis – NASDAQ Climbs Back, Dow Jones Supported By Salesforce Performance

Alice Wang

Mar 03, 2023 15:43


S&P 500

After a multi-day decline, speculators purchased equities, and the S&P 500 recovered from session lows.


Traders today concentrated on changes in the Bond market. The yield on 10-year Bonds made an effort to stabilize above 4.08% while remaining above the significant 4.00% mark.


Although rising Treasury rates are negative for equities, it appears that some speculators were ready to take advantage of the recent decline to grow their long holdings.


After surpassing expert expectations and expanding its share repurchase program, Salesforce increased its gains by 11%. Due to its Investor Day falling short of market forecasts, Tesla was one of the largest losses in the S&P 500 today.


From a broad perspective, the crucial issue is whether dealers will be able to disregard the changes in the market for government bonds in the event that Treasury rates keep rising.

NASDAQ

Despite increasing Bond rates, the NASDAQ rose back above the 11,900 mark. It appears that the primary forces behind this move were profit-taking and dip-buying.


NASDAQ needs to stabilize back above the 50 DMA at 11,965 in order to have a chance to build long-term upward momentum. NASDAQ will move toward the next support level at the 20 EMA at 12,145 if it rests above the 50 EMA.

Jones, Dow

Due to the Salesforce stock's impressive showing during today's trading period, Dow Jones made some progress.


The Dow Jones experienced solid support in the 32,500–32,800 range, which is encouraging for bears. The Dow Jones will advance toward the 33,200 level of opposition if it moves above the 33,000 mark.

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