empty
06.07.2023 04:05 PM
Janet Yellen has arrived in Beijing for negotiations

According to recent information, Finance Minister Janet Yellen has arrived in Beijing today for a four-day visit to seek common ground areas. This trip comes as the rivalry between the United States and China intensifies, causing harm to both national economies and global economies.

Experts note that Yellen's visit marks a thaw in relations between the two countries and follows Secretary of State Antony Blinken's visit to Beijing last month, which was the first high-level meeting between the United States and China after several years of tension.

This image is no longer relevant

It is important to highlight that just a few days ago, China imposed restrictions on the export of metals and their compounds in response to recent actions by the United States, which sought to ban the export of AI chips. This escalation has fueled the technological war between Beijing, the United States, and Europe.

During her stay in Beijing, Yellen is expected to discuss possible solutions to the technological conflict with Chinese officials, as it has significant implications for the world's two largest economies.

Chinese President Xi Jinping emphasized in a recent speech that China opposes severing ties and is committed to contributing further to global economic growth, a shared responsibility among many developed countries. Xi Jinping's statement highlighted China's willingness to collaborate with all parties to implement initiatives that foster economic growth and benefit people in different countries. He also condemned protectionism, unilateral sanctions, and the violation of national security concepts.

In pre-market trading, JetBlue Airways shares declined by 1.3% after the company announced the termination of its partnership with American Airlines in the Northeast United States, shifting its focus to Spirit Airlines. American Airlines shares fell by approximately 0.9%, while Spirit Airlines shares rose by 2.3%.

Meta shares, the social network, saw an increase of around 2% in pre-market trading following the launch of Threads, a direct competitor to Twitter. Meta CEO Mark Zuckerberg announced on his Threads account early Thursday morning that 10 million people had registered on the platform within seven hours of its launch.

Sweetgreen's shares surged more than 4% after Bank of America upgraded the stock rating from "hold" to "buy." The decision was based on the growing number of visitors to the network.

Bank of America shares remained relatively stable in pre-market trading after the bank announced an increase in payouts from 22 cents to 24 cents per share. Economists estimate that the 9% increase will result in a dividend yield of approximately 3.3% based on Wednesday's closing price. This increase follows Bank of America's discussion with the Federal Reserve regarding discrepancies in the central bank's stress test results and the internal version of the test.

Microsoft shares rose by 0.8% in pre-market trading as Morgan Stanley raised the target price, suggesting that the company's market value could surpass $3 trillion due to the influence of artificial intelligence.

Regarding the technical outlook for the S&P500, demand for the index has slightly decreased. However, buyers still have the opportunity to continue the upward trend, although bulls need to put in effort to reclaim the levels of $4427 and $4447. If successful, a surge to $4469 may follow. Bulls should also prioritize controlling over $4488 to strengthen the bullish market. In case of further downward movement due to decreased risk appetite, buyers must assert around $4405. Breaking below this level would push the trading instrument back to $4382 and pave the way toward $4357.

Jakub Novak,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

The Stock Market Is Approaching Dangerous Levels

The wave pattern on the 24-hour chart for the #SPX instrument appears generally clear. At this point, the formation of an upward trend segment is presumably complete. In my view

Chin Zhao 12:35 2025-06-25 UTC+2

Update on US stock market on June 25. Key stock indices growing in confidence

S&P500 Snapshot of the US major stock indexes on Tuesday: Dow +1.2%, NASDAQ +1.4%, S&P 500 +1.1% (closed at 6,092, within a 5,700–6,300 range). The stock market traded with

Jozef Kovach 11:52 2025-06-25 UTC+2

US stock market in uptrend as ceasefire announced between Israel and Iran

S&P500 Snapshot of the benchmark US stock indices on Monday: Dow +0.9%, NASDAQ +0.9%, S&P 500 +1%, S&P 500 at 6,025, range 5,600–6,200 In the early hours of June

Jozef Kovach 12:37 2025-06-24 UTC+2

Update on US stock indices on June 24. SP500 and NASDAQ surge amid good news

US stock indices closed higher yesterday. The S&P 500 rose by 0.94%, and the Nasdaq 100 also gained 0.94%. The industrial Dow Jones strengthened by 0.88%. Oil prices fell while

Jakub Novak 10:54 2025-06-24 UTC+2

S&P 500 Forecast for June 24, 2025

S&P 500 The new week began with confident growth for the S&P 500. The support from the balance line indicator (the red moving average) on the weekly timeframe worked well

Laurie Bailey 04:44 2025-06-24 UTC+2

Update on US stock market on June 23. US stock indices close mixed. Oil trades higher amid geopolitical tensions

Last Friday, US stock indices closed mixed. The S&P 500 fell by 0.22%, and the Nasdaq 100 lost 0.55%, while the industrial Dow Jones gained 0.08%. Today, futures for European

Jakub Novak 11:09 2025-06-23 UTC+2

Uptrend in US stock market about to crack. Will market maintain bullish momentum until end of summer?

The US stock market maintains an appearance of stability, but the foundation beneath this calm may prove fragile. Indices remain near historic highs. Nonetheless, a potentially explosive combination is brewing

Anna Zotova 17:09 2025-06-20 UTC+2

Update on US stock market on June 20. SP500 and NASDAQ open with gains

Yesterday, US financial markets were closed. US stock indices ended the electronic trade mixed: the S&P 500 slipped by 0.03%, the Nasdaq 100 gained 0.13%, and the Dow Jones Industrial

Jakub Novak 11:54 2025-06-20 UTC+2

S&P 500 Forecast for June 20, 2025

For the past six weeks, the price has been unsuccessful in testing the resistance of the MACD indicator line on the weekly chart. However, the recent consolidation above the 5908

Laurie Bailey 07:16 2025-06-20 UTC+2

Calm above, crisis below: markets weigh oil, inflation, and Middle East risks

The US stock market is showing mixed performance, reflecting investors' ambivalent outlook after the holiday break. In the latest trading session, the S&P 500 slipped 0.03%, while the Nasdaq rose

Anna Zotova 13:29 2025-06-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.