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On Tuesday, May 19, the Hang Seng Index closed up 122.67 points, or 0.48%, at 25,797.85; the Hang Seng Tech Index closed up 12.52 points, or 0.26%, at 4,857.46; the H-share Index closed up 41.99 points, or 0.49%, at 8,639.96; and the Red Chip Index closed up 11.52 points, or 0.26%, at 4,496.08.Hong Kong stocks closed higher, with the Hang Seng Index rising 0.48%, the Tech Index rising 0.26%, and Baidu (09888.HK) rising 1.48% after its earnings report.On May 19th, at the AMD AI Developer Day event in Shanghai, AMD (AMD.O) CEO Lisa Su delivered a 10-minute speech. During her speech, Su discussed AMDs commitment to the Greater China region, stating that AMD has over 4,000 engineers in its R&D centers in Beijing, Shanghai, Shenzhen, and Taipei. AMD EPYC processors are already supporting over 700 cloud instances of leading cloud services in China. The company also has ecosystem partnerships with over 100 software providers, startups, and universities. Su also made predictions about AI development trends. She stated that in 2020, there were approximately 1 million active AI users globally, and this number is projected to reach over 1 billion by 2025 and 5 billion by 2030—meaning that 5 billion people will be using AI daily within the next five years.South Korean President Lee Jae-myung: South Korea and Japan will expand supply chain cooperation. South Korea and Japan have reached an agreement to strengthen cooperation in liquefied natural gas and crude oil, including information sharing on reserves.Futures News, May 19th: Data on Dalian Commodity Exchange (DCE) chemical product warehouse receipts and changes on May 19th: 1. Polyethylene futures warehouse receipts: 13,750 lots, a decrease of 359 lots compared to the previous trading day; 2. Polyvinyl chloride (PVC) futures warehouse receipts: 103,456 lots, an increase of 469 lots compared to the previous trading day; 3. Polypropylene (PP) futures warehouse receipts: 15,936 lots, unchanged compared to the previous trading day; 4. Ethylene glycol futures warehouse receipts: 13,498 lots, unchanged compared to the previous trading day; 5. Liquefied petroleum gas (LPG) futures warehouse receipts: 1,164 lots, a decrease of 25 lots compared to the previous trading day.

S&P 500 Moves Towards 4000 As Risk Appetite Grows

Cory Russell

Nov 14, 2022 16:40

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Advances in stock prices ahead of the weekend

As traders opted to take some profits off the table, the S&P 500 tried to settle above 3990 but lost momentum and pulled back towards the 3970 level. The NASDAQ Composite, which is heavily weighted toward technology stocks, increased by about 1.5%.


Given that consumer spending is slowing down, the Fed may become less hawkish, it appears that the dismal Consumer Sentiment report gave markets extra support.


Stocks of basic commodities and energy were rising today as the recovery in commodity markets went on. In the energy sector, Occidental Petroleum, Phillips 66, and Devon Energy were among of the top gainers.


Tech stocks kept climbing, and Amazon finally reached the psychologically significant $100 milestone.


Following yesterday's decline, Treasury rates increased, but this increase was not substantial.


Additionally, a large basket of currencies came under intense pressure against the US dollar, which was positive for the S&P 500.


The rebound from yesterday's continuation is unexpected from a broad perspective. Given the size of yesterday's gains, some traders could have decided to lock in some profits before the weekend.


Tech companies, however, received substantial support during today's trading session, which showed that risk appetite grew.

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