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On November 20th, 3SBio (01530.HK) announced in Hong Kong a proposed spin-off and separate listing of its subsidiary, Mandy Semiconductor, on the Main Board of the Hong Kong Stock Exchange. As the listing of Mandy Semiconductor is subject to, among other things, approvals from relevant authorities, the final decision of the Board of Directors and the Mandy Semiconductor Board, market conditions, and other considerations, the proposed spin-off may not materialize. Shareholders and other investors are advised to exercise caution when dealing in the Companys securities.According to Hong Kong Stock Exchange documents, Mandy International has submitted a listing application to the Hong Kong Stock Exchange.US President Trump cited reports criticizing Democratic lawmakers for calling on "US military personnel to refuse to carry out undefined and illegal orders."On November 20th, B. Riley Wealth analyst Art Hogan stated that the problem lies in the significant lag in the September US non-farm payroll report, with the next report not expected until after the December Fed interest rate decision. This puts the Fed in a decision-making dilemma and does not significantly increase the probability of rate cuts in any direction. The market rally was primarily driven by solid earnings reports from Nvidia and Walmart, thus the market reaction was more driven by corporate profits than economic data.On November 20th, Ali Jaffery, an analyst at CIBC Capital Markets, commented on the US September non-farm payrolls: The Federal Reserves pause in rate hikes in December largely depends on insufficient data, thus postponing policy decisions until next year to act when complete data is available again. This may be a wiser choice, especially given the legal challenges facing tariffs.

Stock Markets Take a Break Ahead of Non-Farm Payroll

Cory Russell

Aug 05, 2022 15:46

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As we swing back and forth between the Friday news, the S&P 500 has been trading a little sideways throughout the day.

Technical Analysis of the S&P 500

The S&P 500 fluctuated throughout the session on Thursday since we are barely below the 200 day moving average and, of course, we have to be concerned about the employment report on Friday.


Given that circumstance, I believe an explosive move is most likely only a matter of time. If everything remained the same, one may believe that this barrier should hold, but the S&P 500 might really take off if we were to break over the 4200 mark. Although that is not my worst-case situation, I must have it in the back of my mind when I trade this.


The 4100 level, in my opinion, is critical. A far deeper correction may be seen if we were to drop below that level. We drop another 100 points or so at that moment and start looking at the 50 Day EMA.


Unfortunately, whether or not the Federal Reserve will tighten monetary policy any more forcefully depends entirely on perception. While the Fed adamantly maintains its capacity to do so, the market does not believe it. It's highly likely that the stock markets will see a little decline if the American employment report on Friday is hotter than expected. Traders will view this as yet more justification for the Federal Reserve to closely monitor its monetary policy, perhaps leading it to tighten further. In any case, I believe we are a bit overdone in the near future, but always keep an eye out for the opposite side.

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