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On April 3rd, it was reported that the National Innovation Center for Optoelectronics, the National Key Laboratory of Optical Communication Technology and Networks, and Pengcheng Laboratory jointly developed a multifunctional programmable optoelectronic fusion gate array system (P-FPGA) – LightIN. This system consists of a programmable photonic chip, an electronic control module, and a test-compile-adjust (TCA) intelligent configuration framework, enabling multiple functions such as photonic computing acceleration, signal processing, network switching, and security encryption. The related findings were published in Nature sub-journal Light: Science & Applications 15:165.On April 3rd, Xiaomi announced that due to the continued sharp rise in the prices of key components such as global memory chips, and after careful evaluation, the company will adjust the suggested retail price of some of its products starting from 00:00 on April 11, 2026. This adjustment involves three models: the REDMI K90 Pro Max will see a price increase of 200 yuan; the Turbo 5 and Turbo 5 Max will have their Spring Festival special offers cancelled; and the 512GB version will continue to receive a 200 yuan subsidy.On April 3, according to a draft military planning law seen by Politico, France plans to increase its missile and drone stockpile by up to 400% by 2030. Currently, Paris is allocating billions of euros to increase existing stockpiles and replenish its air defense missiles used by the air force in intercepting Iranian drone attacks in the Gulf region. French Prime Minister Seleção recently told lawmakers, "The immediate priority is, of course, ammunition." This statement comes against the backdrop of widespread European concerns about a potential conflict with Russia before 2030. The French government will submit an updated military planning law on April 8, planning to allocate 8.5 billion euros for drones and missiles by 2030. The 64-page draft explicitly aims to prepare for a "war economy." Since the outbreak of the Russia-Ukraine conflict in 2022 and Trumps re-election as US president, European countries have accelerated the enhancement of their defense capabilities due to concerns that Washington might withdraw from NATO or cease to guarantee European security.According to the South China Morning Post, Leapmotor plans to establish a European R&D center to drive global growth and is considering assembling vehicles in Canada.On April 3, seven departments, including the Ministry of Industry and Information Technology, issued the "Action Plan for Intensifying the Upgrading and Transformation of Old Plants in the Petrochemical Industry (2026-2029)." The plan proposes to utilize existing policy funding channels, such as those for "new infrastructure" and technological innovation/re-lending, to support the upgrading and transformation of eligible old plants. It also emphasizes leveraging relevant government investment funds to provide investment support to enterprises. Financial institutions are encouraged to implement targeted credit policies based on industrial layout and capacity control, and to promote bank-enterprise cooperation through credit market service platforms and national industry-finance cooperation platforms to improve the quality and efficiency of financial services. Enterprises can enjoy existing support policies during the upgrading and transformation process. Local governments with the necessary conditions can utilize existing funding channels to support the upgrading and transformation of eligible old plants. The annual performance evaluation of relevant central enterprises should appropriately consider the impact of upgrading and transformation of old plants on their operating performance.

S&P 500 Retreats As Traders Reduce Risks Ahead Of U.S. Inflation Reports

Jimmy Khan

Nov 10, 2022 17:43

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Disney Slumps as Quarterly Report Underperforms Expectations


The S&P 500 is facing significant pressure as traders assess the ambiguous midterm election results in the United States and fret over the significant sell-off in cryptocurrency markets.


Energy stocks, which are falling as a result of the sharp decline in oil prices, are driving the sell-off. In today's trading session, shares of Occidental Petroleum, Hess Corporation, and Devon Energy are down 5% to 7%.


Due to its quarterly report falling short of analyst forecasts, Disney is down 13%. The market is also dissatisfied with the company's short-term business outlook.


As a result of traders' reactions to Elon Musk's sales of the stock, Tesla is down 6%. Musk just sold over $4 billion worth of Tesla stock to raise money for his Twitter transaction.


NVIDIA is down 5% as investors fear that the decline in cryptocurrency markets may lower demand for the company's goods.


From a broad perspective, the sell-off is extensive, and all market segments have been under significant pressure.

Traders get ready for reports on US inflation


The United States will announce inflation figures tomorrow, so traders should be aware of this. Analysts anticipate that the inflation rate will have decreased to 8% in October from 8.2% in September. It appears that some market participants have made the decision to lower their risk exposure before this significant report.


The S&P 500 is currently attempting to settle beneath the 3760 support level. If successful, the S&P 500 will move in the direction of the next support level at 3725. A move below this point will allow for a test of the support level at 3690.


The S&P 500's closest upward resistance level is found at 3805. The S&P 500 will move in the direction of the 3835 resistance level if it rises again above this level. If the S&P 500 is able to hold above 3835, it will move toward the 3885 resistance level.