EUR/USD 1.16000
0.039%
Gold 4220.14
1.519%
Oil 59.392
0.687%
USD/JPY 156.145
-0.098%
GBP/USD 1.32418
0.018%
GBP/JPY 206.766
-0.068%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
November 30th - OPEC+ is about to hold a meeting to assess the global oil market. Given the increasingly apparent signs of oversupply, the alliances oil-producing countries are still expected to pause supply increases in the first quarter of next year. Several representatives indicated that the Saudi- and Russian-led alliance is likely to adhere to the plan reached earlier this month to make a modest production increase in December, followed by stable production levels for the first three months of next year. While this pause demonstrates some caution from OPEC and its partners after their rapid resumption of oil production earlier this year, it still leaves the global market facing a significant oversupply in early 2026, potentially putting further pressure on oil prices.Ukrainian President Volodymyr Zelenskyy announced that he has appointed former Ukrainian Ambassador to the United States, Irina Markarova, as his advisor on reconstruction and investment.On November 30th, Canadian Solar announced that it plans to adjust its US market business by establishing two new joint ventures, M and N, with its controlling shareholder, Canadian Solar Inc. (CSIQ). CSI will hold 24.9% of the shares, and CSIQ will hold 75.1%. Company M will focus on the US photovoltaic business, while Company N will focus on the US energy storage business. Simultaneously, the company plans to restructure its US manufacturing plant, with CSIQ holding 75.1% and CSI holding 24.9%, to obtain a one-time equity transfer consideration and subsequent ongoing equity gains from the 24.9% stake in the US business. This transaction and the waiver of commitments have been approved by the board of directors and are subject to shareholder approval.On November 30th, Baili Tianheng announced that its wholly-owned subsidiary, SystImmune, recently received a $250 million milestone payment from BMS. According to the cooperation agreement, the company is also eligible for up to $250 million in near-term contingent payments, as well as additional payments of up to $7.1 billion upon achieving specific development, registration, and sales milestones.On November 30th, Zhuochuang Information announced that it submitted an application to the Hong Kong Stock Exchange on November 28th, 2025, for the issuance of overseas listed shares (H shares) and listing on the Main Board of the Hong Kong Stock Exchange. The application materials for this issuance and listing were also published on the Hong Kong Stock Exchange website on the same day. The issuance and listing are subject to approval, authorization, or filing by relevant government agencies, regulatory bodies, and stock exchanges, and will be implemented only after comprehensive consideration of market conditions and other factors. Therefore, the matter remains subject to uncertainty.

S&P 500 Set to Snap Four-week Win Streak as Growth Stocks Slide

Cory Russell

Aug 22, 2022 14:49

微信截图_20220822144323.png

Large Growth/Tech Stocks Drive Friday's Drop

Big tech/growth stocks were what drove down US equity markets on Friday. Companies including Apple (-1.3%), Microsoft (-1.4%), Alphabet (-2.3%), Amazon (-2.9%), Tesla (-2.7%), and Meta Platforms (-3.7%) all suffered amid a strong increase in long-term US government yields. The latest rally in US yields was attributed to a jump in German producer price inflation in July to new record highs and recent hawkish remarks from Fed policymakers. As a result, the US 10-year yield climbed to its highest levels in almost a month at just under 3.0%, nearly 50 basis points higher than earlier monthly lows.


Whatever the reason for the increase in US bond yields, it means that owning growth stocks—whose values are based disproportionately on expectations for future profits growth than actual earnings—now has a higher opportunity cost. Unsurprisingly, the Nasdaq 100, which is highly weighted toward big technology and growth stocks, had the poorest performance on Friday, down 2.0%.


That brought its losses for the week to slightly over 2.4%. While the S&P 500 is still comfortably above 4,200, it lost around 1.2% on Friday, bringing its weekly losses to about 1.1%. With Friday's decline, both indices are likely to end their four-week gain streak. The Dow, on the other hand, fell by slightly more than 0.7% on Friday and was still trading level for the week.


In terms of the S&P 500 GICS sectors, Energy (+0.5%), Utilities (+0.2%), and Healthcare (+0.7%) increased, while Consumer Staples remained unchanged and the other seven all decreased, with Consumer Discretionary stocks leading the way with a 2.0% fall.


DE Falling on Weak Earnings, GM Reinstating Dividends, and Cohen Selling Shares Dropping BBBY 40%


Regarding specific stock news, after the business reported lower-than-expected earnings per share for the previous quarter, citing persistent supply chain issues, Deere's share price fell as much as 4.0% intraday before rising. Following General Motors' announcement that it would resume the quarterly dividend payments that had been suspended in 2020, the company's stock price increased by almost 2.0%.


Following the revelation that billionaire investor Ryan Cohen had sold his shares in the struggling business and made a $60 million profit, Bed Bath & Beyond's share price fell by over 40% on Friday.


The last price of BBBY stock was just under $12. BBBY had previously reached weekly highs of $30 and had increased by roughly 500% month-over-month. Recent price movement has been compared to the meme stock mania of early 2021.


The revelation that DoorDash had ended its grocery deal with Walmart, whose shares were last down slightly more than 1.0% on the day, caused it to drop 3.0% on Friday.

Suggestion