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On August 26th, Tang Daosheng, Senior Executive Vice President of Tencent Group and CEO of the Cloud and Smart Industries Group, published an article in Tencents internal publication addressing external criticisms that "Tencent is slow in its AI development." He responded that its impossible not to feel anxious. "The Hunyuan large-scale model has undergone multiple reconstructions. Hunyuan Hy3 performs exceptionally well among large models with similar parameters, but due to the companys overall insufficient computing power, model training and product development have been slowed down, resulting in significant impacts." Tang Daosheng stated that getting started early may not be the most crucial factor; the second half of the AI era has only just begun. Only by persevering can one seize the continuously emerging new opportunities.On August 26, European Central Bank Executive Board member Schnabel stated that the protracted Middle East conflict, coupled with unexpectedly strong Eurozone economic performance, poses upside risks to inflation, necessitating further interest rate hikes. Consumer price increases could exceed 2% for an "extended period," and policymakers will be behind the curve if action is delayed until these effects are transmitted to wages. She stated, "At current interest rates, inflation is unlikely to return to the target level in the medium term, thus requiring further policy tightening. Especially given the current resilient aggregate demand, preventing a second round of effects early is crucial, as acting too late may require more aggressive tightening measures." She pointed out that fiscal policy, increased defense spending, and the global AI boom are key drivers of strong economic growth. Schnabel warned that energy price pressures, excluding oil, are becoming more persistent. Given low European gas inventory levels, the gas market is particularly worrying, "posing a substantial upside risk to inflation. The longer the conflict lasts, the greater the risk and intensity of indirect and second-round effects."Tibo, Product Manager at OpenAI Codex: Good products take time. At least 34 days.ANZ Bank now expects the Reserve Bank of Australia to raise interest rates by 25 basis points in November.August 26th - According to foreign media reports, South Korea stated on Wednesday that fighter jets were scrambled in response to Russian military aircraft entering its air defense identification zone (ADIZ). This marks the second time in several weeks that Russian military aircraft have entered the area. The South Korean Ministry of National Defense stated that multiple Russian military aircraft entered and subsequently left the ADIZ over the East Sea (East Sea). The Ministry of National Defense emphasized that the Russian aircraft did not violate South Korean airspace.

S&P 500 Price Forecast – Stock Market Rallies Heading Toward CPI

Steven Zhao

Jan 12, 2023 15:42


Technical Analysis of the S&P 500

Even though the critical CPI statistic is out on Thursday, the S&P 500 has surged pretty substantially in the early hours of Wednesday. To be very honest, it seems that many traders are actively attempting to "front run the Fed," which is nothing new. However, given where we are on the chart, it could be challenging to go through this threshold. Given that the 200-Day EMA is barely above, there will undoubtedly be some attention given to this scenario. A significant downtrend line and the 4000 level are both possible tangles after a break above the air.


Keep in mind that Wall Street, which is seeking for low-cost financing, seems to be depending on the notion that the Federal Reserve would provide some kind of relief. For the last 14 years or more, that has been the whole game: making quick, easy money. Because the Federal Reserve is to blame, they will inevitably have to adopt an extremely hostile and pessimistic tone. Although it seems that everyone is ready to disregard it for the time being, it is coming near to the inflation level, which will almost certainly startle the market once again.


Having said that, we have a good chance of reaching 4200 if we manage to break above the downtrend line. The Wall Street traders are really skilled at creating stories, so as soon as they receive the shot, there will be some other tale to listen to. That is an area where I would also anticipate seeing a lot of opposition.

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