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Israel Defense Forces: Lieutenant General Eyal Zamir, Chief of the General Staff of the Israeli Army, met with U.S. Air Force Commander General Kenneth Wilsbach and Air Force Commander Major General Omer Tishler last Sunday. They discussed regional situation assessments, lessons learned from joint operations, and areas for future cooperation.On August 26, Iranian Parliament Speaker Mohammad Qassem Ghalibaf, during a meeting with Iraqi Supreme Judicial Council Chairman Faik Zidaun, stated that Iran and Iraq play a crucial role in establishing regional order and emphasized the need for further cooperation between the two countries. Regarding the war between Iran and the United States, Ghalibaf stated that the US launched the war against Iran with the aim of overthrowing the Iranian government and expanding its hegemony in West Asia and the Muslim world. However, he asserted that thanks to the courageous resistance of the Iranian people and the efforts of the resistance front, the US has clearly failed to achieve this goal, a fact acknowledged by the entire world. He stated that the US has failed in its military and political war against Iran, and its economic actions will also end in failure. On the issue of Iraq, Ghalibaf stated that the withdrawal of the US-led coalition from Iraq was a historic achievement for the Iraqi government and people. He expressed his belief that Iran and Iraq can play a decisive role in regional order, especially in the Persian Gulf region.On August 26, Australian Prime Minister Barnes stated that he has secured the agreement of regional leaders, including Queensland, which had previously opposed the proposal, to push forward with new regulations on energy use for artificial intelligence (AI) data centers, with the goal of enacting them next year. The Australian National Cabinet has agreed to establish minimum requirements for data center electricity, water, and land use. The government stated that it plans to draft the new regulations by the end of this year and legislate them in early 2027. Barnes stated, “We have reached a consensus on national AI law for Australia. We want to ensure that while attracting investment, we don’t end up with eight different regulations running simultaneously across the country.” Queensland and the Northern Territory initially opposed Barnes’ proposal, which included requirements for high-energy-consuming data centers to use renewable energy. Queensland officials previously argued that this would give Canberra greater control and could hinder investment.On August 26th, the Shanghai Municipal Government General Office issued the "Shanghai Strategic Emerging Industries Development 15th Five-Year Plan". It mentions focusing on key areas to strengthen forward-looking planning and further comprehensively enhance the integrated circuit industrys capabilities. Key development areas include: 1. High-end chips and AI-enabled design. Accelerate the R&D and industrialization of high-end chips; build vertical models and intelligent agents for chip design, and achieve design process reshaping and simulation acceleration through AI empowerment. 2. Advanced packaging. Promote the R&D and mass production application of new technologies such as advanced packaging, and support the R&D of packaging equipment and materials. 3. New devices and new architecture chips. Support the R&D of new material devices such as two-dimensional materials, and promote the design and tape-out of three-dimensional stacked architecture chips.On August 26th, the Shanghai Municipal Government General Office issued the "Shanghai Strategic Emerging Industries Development 15th Five-Year Plan". It mentions strengthening the cultivation of new intelligent terminals, focusing on application scenarios such as next-generation mobile internet, smart homes, and smart factories, creating internationally competitive consumer-grade new intelligent terminal brands, and launching a number of blockbuster terminal products. Key development areas include: 1. Key Hardware: Accelerating breakthroughs in key technologies such as edge AI chips, next-generation new displays, and flexible material sensors, and promoting technological iteration in areas such as micro-LEDs, waveguide lenses, and high-performance rendering engines. 2. Edge Models: Creating lightweight, multimodal edge vertical models, optimizing iterative model compression algorithms, and achieving performance levels of edge models that are basically comparable to large cloud models in various application scenarios. 3. Intelligent Consumer Terminals: Developing new AI consumer terminals such as AI computers, AI phones, AI glasses, bionic robots, and intelligent wearable devices, supporting a new manufacturing model of "product design + standard parts assembly".

S&P 500 (SPY) Rebounds From Session Lows As Energy Stocks Rally

Alice Wang

Aug 30, 2022 15:20

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Stocks Continue to Face Some Pressure

As traders continued to pay attention to Powell's hawkish remarks, the S&P 500 fell below the 4050 mark.


It is not unexpected that tech companies had a poor day given that the yield on 10-year Treasuries has risen back over the 3.10% mark. Apple, Microsoft, Tesla, NVIDIA, Meta, and other well-known IT companies are still under a lot of pressure.


3M Company was the biggest laggard in Dow Jones. The stock is still significantly under pressure because investors are concerned that litigation involving combat earplugs might cost the business up to $100 billion. A court decided on Friday that the bankruptcy of the subsidiary of 3M Business could not bar legal actions against the parent company.


The dominant market sector at the moment is energy equities. Leading energy equities like Exxon Mobil and Chevron received further support as WTI oil rose amid violent demonstrations in Iraq. At the close of today's trading session, the S&P 500 may go higher due to the uptick in the oil sector.

Will There Be Another Sell-Off?

Traders worry that the economy will face severe pressure as a result of the Fed's aggressive rate rises. Since many of the shares in this market category are trading at high valuation levels, tech stocks continue to be sensitive to changes in Treasury yield dynamics. For instance, NVIDIA, which has lost nearly 45% of its value so far this year, is still selling at a projected P/E of 35.


It would be stupid to anticipate that the S&P 500 would continue to decline day after day, despite the fact that increasing Treasury rates and future Fed rate rises are significant negative drivers. There are no indications of significant liquidity issues worldwide, and there should be enough buyers anticipating pullbacks to start positions in American equities. The market may get extra support from the surge in energy equities.


The S&P 500 is attempting to climb back over the resistance of 4040 after failing to go below the 4000 mark. If this effort is successful, the S&P 500 will advance in the direction of the 50 EMA, which is close to the 4080 level. The test of the resistance at 4115 will be possible if a move is made above the resistance at the 50 EMA.


To have a chance of gaining further downward momentum, the S&P 500 has to settle again below 4040 on the support side. S&P 500 is placed at its next support level at 4000. The S&P 500 will move in the direction of the support at 3975 if it is able to settle below this point. If the S&P 500 moves below 3975, it will be forced into the 3945 support level.

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