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On August 29th, at a thematic exchange event during the 2026 China International Big Data Industry Expo, an official from the National Data Administration stated that as of the end of July 2026, the total scale of intelligent computing nationwide reached 2.45 million PFLOPS (FP16). The eight national computing power hubs and three computing-power collaborative development zones have built up over 85% of the nations intelligent computing capacity. 1.45 million PFLOPS of intelligent computing power have been included in the monitoring scope of the national-level monitoring and scheduling platform, and the ability to intensively utilize computing resources and conduct integrated scheduling is continuously improving. Going forward, the National Data Administration will continue to optimize computing power layout to enhance supply capacity, strengthen monitoring and scheduling to improve utilization efficiency, deepen computing-power collaboration, cultivate the industrial ecosystem, and comprehensively promote the high-quality development of computing power.On August 29th, former Ukrainian Defense Minister Mikhailov Fedorov announced on the 28th that he had accepted an invitation to serve as an advisor to Italian Defense Minister Guido Croceto. Fedorov wrote on social media that he will serve as Crocetos defense innovation advisor, providing assistance in areas such as "modern warfare technology," and expressed his "gratitude for Crocetos trust and support." Last month, Fedorov was dismissed from his post as defense minister by Ukrainian President Zelensky after only six months in office, sparking large-scale protests in many parts of Ukraine. Zelensky subsequently dismissed Armed Forces Commander-in-Chief Oleksandr Sørsky, with whom Fedorov had a strained relationship. In mid-August, Fedorov released a video calling for wartime elections in Ukraine, stating that the country was facing a governance crisis. Several days later, Zelenskyy stated that Ukraine was not yet ready to hold wartime elections, otherwise it would face a significant danger of national disintegration.On August 29, Kyiv Oblast Governor Viktor Tkachenko announced on social media that Russia had attacked a warehouse in the Butcha district of the region, killing 37 people. Tkachenko stated that rescue workers and relevant departments were still conducting rescue and cleanup operations at the scene. Earlier, Tkachenko said that Russian forces had been attacking Kyiv Oblast from August 27 to 28, targeting residential buildings, warehouses, and vehicles. One warehouse in the Butcha district was attacked, exploded, and caught fire, which spread to nearby residential buildings, causing dozens of deaths and injuries.Qatari Foreign Ministry: The Qatari Prime Minister and Foreign Minister spoke by phone with the Turkish Foreign Minister to discuss efforts to reduce regional tensions.On August 29, local time, Irans Islamic Revolutionary Guard Corps announced that it had dismantled a terrorist group in the Sarawan district of Sistan-Baluchistan province in southeastern Iran. The Revolutionary Guard stated that the group, affiliated with the United States and Israel, was attempting to carry out a series of terrorist attacks in the province. The operation resulted in the seizure of 20 packages of explosives and explosive components, weapons and ammunition, Starlink equipment, and other items. The United States and Israel have not yet responded to the report.

S&P 500 Retreats As Treasury Yields Test New Highs

Cory Russell

Oct 20, 2022 15:36

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Settled S&P 500 Below 3700

As traders paid attention to the events in the Treasury markets, the S&P 500 fell below the 3700 mark. Treasury yields hit fresh highs today after gaining significant upward momentum. While the yield on 10-year Treasuries managed to stabilize above 4.10%, the yield on 2-year Treasuries crept closer to 4.55%.


Unsurprisingly, the U.S. dollar received significant support from higher rates. Stronger dollar and higher Treasury rates acted as stock market negative drivers.


The trading session today saw quite a few prominent losers. After lowering its full-year outlook, Generac, which develops and produces power generating equipment, saw a 25% fall. After missing analyst sales and profit expectations, M&T Bank dropped 14%.


As Treasury rates touched new highs, it should come as no surprise that REITs had the poorest performance in the market. Leading tech companies including Amazon, Microsoft, and Alphabet were all down by approximately 1% as investors continued to take gains after the recent recovery.


As WTI oil rose back over the $85 mark, energy equities including Baker Hughes, Valero Energy, Halliburton, and Schlumberger saw gains of 4–5%.


After the release of its third-quarter report, Tesla shares fell in the after-market session, reaching a low of $210. The business posted profits of $0.95 per share and sales of $21.45 billion. The next earnings call, which might significantly affect the dynamics of Tesla stock, will continue to be the focus of traders.


Following the release of its third-quarter earnings, IBM acquired significant upward momentum and climbed near $129 per share. The business said that for the whole year 2022, constant currency sales growth will exceed its mid-single digit estimate. In the post-market session, support for IBM shares came from an improvement in the expectation for sales growth.