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On August 27, Iranian Parliament Speaker Mohammed bin Salman Ghalibaf met with visiting Qatari Prime Minister and Foreign Minister Mohammed bin Salman in Tehran. The two exchanged views on the current regional situation and how to ease tensions and create favorable conditions for resuming dialogue. Mohammed bin Salman emphasized the need to restart diplomatic channels, stating that dialogue is the best way to resolve differences and prevent further escalation of regional tensions.On August 27th, according to the New York Times, Meta Platforms CEO Mark Zuckerberg recently pointed the finger at competitor Anthropic. While Zuckerberg did not name the AI startup or its CEO Dario Amodi, he stated that leading AI labs are attempting to centralize power while painting a picture of a "doomed" future. In a 6,500-word article published this month, he wrote, "If these labs dominate, the balance of power will be more favorable to large institutions than individuals." However, while Zuckerberg publicly criticized Anthropic, his own company has been secretly helping its competitor grow stronger. According to five sources familiar with the matter, Meta has become a heavy user of Anthropics AI products and is even one of Anthropics largest customers. Two of the sources indicated that at some point this year, Meta internally projected annual spending on Anthropics AI models could reach as high as $10 billion. If this figure materializes, it would represent a significant portion of Anthropics annual revenue. Anthropic projected in July that its annual revenue would exceed $65 billion.Polands Deputy Defense Minister: Poland does not want to deploy nuclear warheads on its own territory.On August 27, Ukrainian authorities reported that Russian forces attacked a shopping mall in Kharkiv using a drone, resulting in one death and five civilian injuries. Russia has not yet responded.On August 27, Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, co-chaired the 20th meeting of the China-Poland Joint Economic Committee with Baranovski, Deputy State Secretary of the Polish Ministry of Economic Development and Technology, in Beijing. Ling Ji stated that this year marks the 10th anniversary of the establishment of the comprehensive strategic partnership between China and Poland. In recent years, bilateral trade between the two countries has continued to grow, two-way investment has steadily progressed, and the potential for connectivity has been continuously released. China is willing to expand imports from Poland, promote a more balanced bilateral trade, and strengthen supply chain cooperation with Poland in areas such as new energy, intelligent manufacturing, and logistics warehousing. China hopes that Poland will provide a fair, just, and non-discriminatory business environment for Chinese enterprises operating in Poland. China is willing to properly resolve differences with the EU through dialogue and consultation, and promote the healthy and stable development of China-EU economic and trade relations.

S&P 500 Remains Under Pressure As Traders Stay Cautious

Cory Russell

Dec 08, 2022 15:49


Tesla Stock Is Still Under Severe Stress

The S&P 500 made an attempt to settle above 3960 after recovering from session lows near the level of 3915 as the stock market sought to regain stability following the recent pullback. S&P 500, however, remained below 3960 and moved closer to 3930.


Although the yield on 10-year Treasuries tested new lows near 3.40%, stocks were not significantly helped by this development.


Concerns about the demand for the company's vehicles caused Tesla to decline by more than 3%. Morgan Stanley reduced its iPhone estimate, which caused Apple to decline by more than 1%.


As the sell-off in the oil markets continued, pressure on the energy stocks persisted. Oil services companies took the lead in the retreat. Halliburton


From a broad perspective, traders are still concerned about a possible global recession. At the same time, it is important to remember that the safe-haven U.S. dollar has risen significantly from its yearly lows and that Treasury yields have sharply declined in recent weeks.


It is unclear if traders will be willing to take on more risk before the Fed meeting. The market might therefore continue to be choppy in the coming trading sessions unless investors discover a significant catalyst that would spark a significant move.