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Domestic News: 1. Wang Yi speaks with Nepalese Foreign Minister Shisir by phone. 2. my country achieves its first high-speed two-way laser communication between Earth and the Moon. 3. National Bureau of Data Science: Demand for meta-based computing is experiencing explosive growth. 4. As of the end of July, my countrys total intelligent computing scale reached 2.45 million PFLOPS. 5. In the first half of the year, 35,000 new foreign-invested enterprises were established nationwide, a year-on-year increase of 7.0%. 6. Nanjing Housing Provident Fund Management Center: Further expands the scope of inter-city housing provident fund loans. 7. Changxin Memory responds to lawsuit against the US Department of Defense: Only researches and produces DRAM products for commercial and civilian use, not for military purposes. International News: 1. Ukraine claims Russia may be planning a new ground offensive against Kyiv. 2. The Russian government has extended the export ban on diesel producers until the end of September. 3. OpenAI announces termination of its partnership with Cursor due to SpaceXs acquisition of the company. 4. US Defense Secretary Hergsays reportedly considering running for president in 2028? The Pentagon denies this. 5. The CFTC confiscated $172,000 from a former White House teleprompter for illegally trading information from Trumps speeches. 6. Middle East Situation—① Iranian media: $7.5 billion in oil revenue has been transferred to the Central Bank of Iran. ② Iranian Foreign Minister: US government officials manipulated the energy market for personal gain. ③ Iran says US military bases in the region are only for protecting Israel.On August 29, Al Jazeera reported that the Iraqi armed group Kataib Sayyid al-Shuhada stated it would cooperate with arms control in Iraq only if 10 conditions were met, the most important being the complete withdrawal of US troops from Iraq. This group has long maintained ties with the Iranian Revolutionary Guard. In its statement, the group demanded the termination of the US military presence in Iraq "under any pretext" and a ban on attacks against neighboring countries using Iraqi airspace. The group also demanded that all weapons be brought under national control only if measures were simultaneously taken to strengthen Iraqs armed forces and air defense capabilities. Other conditions proposed by the group included the withdrawal of Kurdistan Workers Party (PKK) militants from Iraqi territory, federal government control of the Kurdish border regions, and the elimination of Iranian opposition groups stationed in northern Iraq.On August 29, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, spoke by phone with Nepalese Foreign Minister Shisir. Wang Yi stated that Chinas comprehensive aid package to Nepal is being implemented, including emergency cash assistance and humanitarian aid. Relief supplies provided by China are about to arrive in Kathmandu. Chinese tunnel rescue experts have been dispatched in two groups to the disaster area and Kathmandu to provide assistance. China has shared important information with Nepal, including images of the disaster area, satellite and hydrological data, and early warning information about the upstream landslide dam. China has made appropriate arrangements for Nepalese citizens stranded on the Chinese side and will assist them in returning to Nepal as soon as possible. China thanks and hopes that Nepal will continue to assist and evacuate Chinese citizens in Nepal. China and Nepal are a community linked by mountains and rivers, sharing a common destiny. Faced with the disaster, the two countries must stand firmly together, work hand in hand to overcome difficulties, and demonstrate the traditional friendship that transcends the Himalayas with concrete actions.Derrick Choi, Product Manager at OpenAI Codex: The AI developer community in Thailand is growing rapidly. Codexs weekly active usage in Thailand is projected to increase more than 350-fold by 2026. OpenAI, in collaboration with Thailands Ministry of Higher Education, Science, Research and Innovation, will bring together 10 Thai startups for an eight-week accelerator program.August 29th - The computer market is experiencing a wave of price increases. Several computer brand stores in Shenzhen stated that HP, Lenovo, ASUS, and other brands will be raising prices on September 1st. HP will first adjust prices by 15% on August 28th, and then raise them again on September 1st, bringing the cumulative increase to approximately 20% before August 28th. Lenovo stores indicated they have also received price increase notices and will adjust prices on September 1st as scheduled. ASUS store staff estimate their brand will increase by at least 500 yuan after September 1st. Several store employees told reporters that rising upstream chip prices are the core driver of this round of price adjustments. In this wave of price increases, low-end models are the hardest hit, while mid-to-high-end models are experiencing relatively moderate increases. In addition, the market price of used computers is also rising in tandem.

S&P 500 Pulls Back As Traders Stay Focused On Rising Treasury Yields

Cory Russell

Oct 21, 2022 15:44

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S&P 500 Continues to Face Pressure

As traders concentrated on increasing Treasury rates, the S&P 500 encountered resistance around 3730 and fell back into the 3650 level. While the yield on 2-year Treasuries climbed beyond the 4.60% mark, the yield on 10-year Treasuries touched fresh highs at 4.25%. These quantities were last seen in 2007.


It should come as no surprise that traders are anxious because they believe that the economy will be too strained by high yields.


According to the Existing Home Sales data, September saw a 1.5% month-over-month fall in Existing Home Sales. In the next months, the housing market will continue to be under pressure from rising interest rates.


As traders responded to the earnings report that was issued after the market closed yesterday, Tesla was among the worst losses today.


After exceeding analyst sales and profit expectations, AT&T saw a 7% increase. Additionally, AT&T increased its full-year 2022 projection, which boosted the value of the shares.


The majority of market categories have been under pressure today, but despite the decline in oil prices, energy companies like Exxon Mobil and Chevron have managed to hold their gains.


The railroad corporation CSX Corporation presented its quarterly report after the market close, outperforming analyst expectations for both profits and sales. The news may provide the market some support since it demonstrates that despite concerns about a recession, economic activity is still strong. In the session after the market close, the stock rose over the $28.50 barrier.


Although Snap is not a component of the S&P 500, its earnings announcement may significantly affect the tone of the tech market. Snap announced sales of $1.13 billion, adjusted profits of $0.08 per share, and revenue that fell short of analyst expectations. Despite the company's announcement of a $500 million repurchase, the shares fell by 24% in the post-market session as a result of the market's unhappiness.