29 Dec 2022

• Last night, the three major U.S. stock indexes all fell by more than 1%, and Chinese concept stocks closed down across the board. As of the close, the Dow fell 1.10%, the Nasdaq fell 1.35%, and the S&P fell 1.22%. The yield on the 10-year U.S. Treasury bond rose 1.066% to close at 3886%, which is -47 basis points compared to the yield on the two-year Treasury bond. The panic index VIX rose 2.26%. Brent crude oil closed down 1.42%. Spot gold closed down 0.53% at $1,804.30 an ounce. The U.S. dollar index remained high, closing at 104.52.
• The monthly rate of the U.S. November existing home sales index was -4%, expected -0.8%, and the previous value was -4.60%. The U.S. pending home sales index fell for the sixth month in November, with declines in home sales and construction hurting broader economic activity (Golden Ten Data APP).
• The Kremlin said Russia had not consulted with OPEC+ on an oil price cap response, arguing it was too early to talk about further steps. A spokesman for the German Ministry of Economy believes that the Russian decree on the suspension of oil exports has no impact on the German economy. The Russian Foreign Minister said that Russia is at war with the West led by the United States. TC Energy once declared force majeure on the operation of the eastern Texas pipeline, and later announced that it would lift it. The pipeline is one of the largest natural gas pipeline systems in the United States.
• The chairman of Iran's Atomic Energy Organization said that officials of the International Atomic Energy Agency will visit Iran next month. During this visit, the two sides may continue to discuss different issues. The Iranian foreign minister stated that the window for reaching an agreement in the Iranian nuclear negotiations "will not always be open." The Israeli Defense Minister said in a speech at the graduation ceremony of the Air Force pilots that Israel has made further preparations for attacking Iran.
• US State Department: EU and US concerned about ongoing tensions in northern Kosovo. Call on all parties to exercise maximum restraint and take immediate action to de-escalate the situation in northern Kosovo. The Kremlin said Russia would not exert disruptive influence between the situation in Serbia and Kosovo. The NATO-led KFOR in Kosovo said it continued to support dialogue to find an agreement to ease tensions.
• Apple fell 3.07%. The agency lowered the shipments of the iPhone 14 series in 2022 to 78.1 million units. Apple's performance may be affected.
• Microsoft fell 1.02%. Microsoft terminated Surface Laptop 2 firmware and driver support. Microsoft brought a new UI to many functions of Win11.
• Google fell 1.67%. Google will still face many problems such as a weak advertising market next year.
• Amazon fell 1.47%. Some parts of the United States trialed Amazon drone delivery. Amazon launched a new delivery program in Japan to cooperate with small businesses to deliver goods.
• Tesla rose 3.31%. Tesla may announce the delivery volume in the fourth quarter on January 3, and it is expected to deliver about 425,000 vehicles.

Sources from: Investing.com; Reuters.com

Louis Yap

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