Cambodian Human Rights Committee Remarks on Recent Case of Detained Soldiers and Thai Response | CMAC Confirms Expertise on MK-84 Bomb as Evidence Supports Cambodia’s Claims | Cambodia Denies Thai Media Allegations of Drone Crossings and Urges Troop Return | Cambodia Urges Thailand to Match Words with Actions in Peace Efforts | BREAKING: Cambodia to Facilitate ASEAN Defence Observer Team Visit Along Border Regions in Support of Ceasefire Agreement | BREAKING: Two Suspects Detained in Phnom Penh Over Massive 562-Kilogram Drug Trafficking Case | BREAKING NEWS: Cambodia Responds to Alleged Thai Military Movements Near Border Areas | Breaking News: Hun Sen Warns of Possible Thai Military Strike, Cancels Senate Meeting Tomorrow | Cambodian Defense Spokesperson Reports Calm but Cautions About Possible Developments Along Border | Deputy Prime Minister Sar Sokha Issues Directive Prohibiting UAV Launches in Border Provinces Amid Sovereignty Concerns | Cambodian Leader Hun Sen Warns of Heightened Tensions, Says Military on High Alert as Diplomacy Continues | TOP NEWS: Cambodia Condemns Thai Forces’ Entry into Sovereign Territory, Calls for International Support | BREAKING: Prime Minister Hun Manet Addresses Status of 18 Cambodian Soldiers in Thai Custody | BREAKING: Senate President Hun Sen Questions Thailand’s Refusal to Return 18 Captured Cambodian Soldiers |
Cambodian Human Rights Committee Remarks on Recent Case of Detained Soldiers and Thai Response | CMAC Confirms Expertise on MK-84 Bomb as Evidence Supports Cambodia’s Claims | Cambodia Denies Thai Media Allegations of Drone Crossings and Urges Troop Return | Cambodia Urges Thailand to Match Words with Actions in Peace Efforts | BREAKING: Cambodia to Facilitate ASEAN Defence Observer Team Visit Along Border Regions in Support of Ceasefire Agreement | BREAKING: Two Suspects Detained in Phnom Penh Over Massive 562-Kilogram Drug Trafficking Case | BREAKING NEWS: Cambodia Responds to Alleged Thai Military Movements Near Border Areas | Breaking News: Hun Sen Warns of Possible Thai Military Strike, Cancels Senate Meeting Tomorrow | Cambodian Defense Spokesperson Reports Calm but Cautions About Possible Developments Along Border | Deputy Prime Minister Sar Sokha Issues Directive Prohibiting UAV Launches in Border Provinces Amid Sovereignty Concerns | Cambodian Leader Hun Sen Warns of Heightened Tensions, Says Military on High Alert as Diplomacy Continues | TOP NEWS: Cambodia Condemns Thai Forces’ Entry into Sovereign Territory, Calls for International Support | BREAKING: Prime Minister Hun Manet Addresses Status of 18 Cambodian Soldiers in Thai Custody | BREAKING: Senate President Hun Sen Questions Thailand’s Refusal to Return 18 Captured Cambodian Soldiers |

S&P 500 climbs for the third straight day as Tesla leads

INTERNATIONAL: The S&P 500 rose for a third day on Monday, as a sharp climb in shares of Tesla overshadowed weakness in energy and bank stocks, while Russia and Ukraine were poised to hold their first face-to-face peace talks in more than two weeks.

Electric-car maker Tesla Inc (TSLA.O) jumped 8.03% and was the biggest boost to the S&P 500 and Nasdaq after saying it will seek investor approval to increase its number of shares to enable a stock split, helping to lift the consumer discretionary index (. SPLRCD) 2.67% as the best-performing sector on the session.

Energy ministers from the Group of Seven industrialized nations reject demands by President Vladimir Putin that "unfriendly" countries pay for Russian gas with robles, Germany's Robert Habeck said after talks with his counterparts on Monday.

The S&P energy index (.SPNY), off 2.56%, was the worst-performing sector in the session after oil prices tumbled on the heels of a lockdown in China's financial hub, Shanghai, to curb a jump in COVID-19 infections that sparked demand worries.

Exxon Mobil Corp (XOM.N) lost 2.81% and Chevron Corp (CVX.N) fell 1.75%.

Financials were also among the weaker sectors on the session, due in part to a Morgan Stanley downgrade on U.S. banks, which cited escalating risks and the likelihood that rate hikes by the Federal Reserve have already been priced in by the market. The S&P bank index (.SPXBK) shed 0.99%.

The sell-off in the bond market resumed on Monday, with short-dated yields hitting their highest since 2019, and the yield curve as measured by the gap between five- and 30-year yields briefly inverted for the first time since early 2006, raising concerns about the Federal Reserve's more aggressive monetary policy will dent economic growth and potentially cause a recession.

"Financials ... so a lot of people bought those or own those on the basis of these will do better in a higher rate environment so I’m not surprised to see the financials back off relative to what is going on in the bond market," said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.

"Of course, commodity names have rallied so high and so hot that it is not surprising to see those names back off, that is kind of what led the market down, but I still think the news for most of these commodity companies will be very, very good."

The Dow Jones Industrial Average (.DJI) rose 94.65 points, or 0.27%, to 34,955.89, the S&P 500 (.SPX) gained 32.46 points, or 0.71%, to 4,575.52 and the Nasdaq Composite (.IXIC) added 185.60 points, or 1.31%, to 14,354.90.

The S&P was able to rebound from declines earlier in the session, with the benchmark index falling as much as 0.6% at one point.

Strong economic data and gains in beaten-down growth stocks have helped Wall Street's main indexes recover in recent days even as the conflict between Russia and Ukraine continues and a host of Federal Reserve policymakers have made hawkish comments about the path of interest rate hikes.

Still, analysts noted that value stocks remain cheap relative to their growth counterparts.


Value stocks remain cheap relative to growth

Meanwhile, Ukraine and Russia said their delegations would arrive in Turkey for peace talks that are expected to take place on Tuesday. A senior U.S. official said Russian President Vladimir Putin did not appear ready to make compromises, with Ukrainian officials also playing down the chances of a major breakthrough at the talks. read more

Poly (POLY.N) soared 52.63% after HP Inc (HPQ.N) said it would buy the audio and video products maker for $1.7 billion in cash. Shares of HP declined 2.74%.

Volume on U.S. exchanges was 11.23 billion shares, compared with the 14.09 billion average for the full session over the last 20 trading days.

Declining issues outnumbered advancing ones on the NYSE by a 1.06-to-1 ratio; on Nasdaq, a 1.08-to-1 ratio favored decliners.

The S&P 500 posted 35 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 48 new highs and 107 new lows.


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