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NASA: Artemis program astronauts have completed half of their lunar mission.According to Irans Mehr News Agency, a missile attack occurred in northern Tehran, resulting in one casualty.On April 4th, it was reported that TrueEV, XPengs exclusive distributor in Australia, entered administration (bankruptcy management) proceedings, drawing attention. XPeng responded that during the past two years of cooperation, it learned through various channels that TrueEV had experienced a broken cash flow and was under the control of its financing party, and had not purchased any vehicles for over a year, failing to fulfill order obligations including 454 cars. TrueEV also had a public business conflict with local dealers, severely damaging the foundation of trust between the two parties. Therefore, in accordance with the cooperation agreement, XPeng formally issued a breach of contract notice to TrueEV, terminating its exclusive distributorship, but retaining its distributorship status. However, TrueEV denied the aforementioned operational problems and instead pursued legal action against XPeng. The Australian court rejected its injunction application on April 1st. XPengs goal going forward is to establish itself in Australia within the next three years as a technology brand that is not only technologically advanced but also trustworthy in terms of user experience.On April 4th, it was reported that the international standard proposal for "DC Filter Capacitors for High Voltage Direct Current Transmission Systems," initiated by my country, was recently approved by the International Electrotechnical Commission (IEC). This standard is the first international standard specifically addressing DC filter capacitors in the field of high voltage direct current transmission, filling a gap in related professional standards. The standard was led by Chinese experts, with participation from experts from Italy, France, Germany, and other countries. The development of this standard will facilitate the sharing of advanced technological concepts of Chinas core high voltage direct current transmission equipment with the world, contributing more Chinese strength to global energy transition and power system upgrading.April 4th - Data released by the General Statistics Office of Vietnam shows that Vietnams economy slowed compared to the previous quarter due to heavy reliance on Middle Eastern oil imports. Vietnams GDP grew by 7.83% in the first quarter, lower than the 8.46% in the fourth quarter of last year. The Vietnamese governments growth target for this year is no less than 10%, but this target is currently under pressure. Vietnam imports over 80% of its crude oil from the Middle East, and oil shipments from the region have been disrupted due to the conflict with Iran. Rising fuel prices have forced Vietnamese airlines to scale back operations and prompted authorities to introduce cost-control measures, including reducing fuel taxes, subsidizing prices through government-controlled funds, and encouraging remote work to reduce consumption.

S&P 500 Pulls Back As Big Tech Stocks Retreat

Cory Russell

Oct 27, 2022 16:28



The post-market session saw Meta Stock test multi-year lows.


The major tech names caused the S&P 500 to lose momentum and fall towards the support at 3835 after reaching highs near the resistance at 3885.


Following poor earnings results that were announced yesterday after the market closed, Alphabet was down 9% and Microsoft was down 7%.


After falling short of analyst expectations and posting an extra $766 million charge on the purchase of two new U.S. presidential aircraft, Boeing saw its share price decline by 8%.


The poor results from the top technology giants outweighed the benefits of reduced Treasury rates and a weaker US currency. As traders gambled that the Fed may be obliged to be less hawkish, the yield on 10-year Treasuries tried to settle down below the 4.00% mark.


It should be emphasized that the Bank of Canada previously increased the rate by 50 basis points, against the 75 basis points predicted by analysts, after determining that aggressive rate rises were placing too much pressure on the economy. The world markets benefited somewhat from this action.


Energy equities including Hess, Halliburton, ConocoPhillips, and others were climbing on a robust recovery in the oil markets as top tech firms came under pressure.


Traders focused on the quarterly report from Meta during the post-market session. Meta announced profits of $1.64 per share and sales of $27.71 billion, exceeding analyst expectations for revenue but falling short of them for profitability. The business said that although average pricing per ad fell by 18%, ad impressions rose by 17% year over year. On an annualized basis, revenue dropped by 4%. The news was unpopular with traders, and Meta is down 12% in the after-market session. The outcomes of Meta might significantly depress market sentiment tomorrow.


Ford reported a loss of $0.21 per share and sales of $39.4 billion. The $2.7 billion non-cash impairment of Ford's investment in Argo AI, which was creating L4 advanced driver assistance systems, was what caused the loss. Supply problems and higher-than-expected supplier payments also had an influence on Ford's financial performance. In the session after the market close, the stock fell by nearly 1%.

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