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On August 29th, local time, continuous gunfire and explosions were reported in several areas of Niamey, the capital of Niger, starting in the early hours of the morning. Sources stated that militants attacked Diori Hamani International Airport and attempted to breach the security perimeter around the presidential palace. Local residents reported intense gun battles and explosions near the Niamey 101 Air Force Base, which is closely connected to Diori Hamani International Airport. Diori Hamani Airport was attacked twice this year by extremist groups and militants in January and June. Bana Ougana Ibrahim, a member of parliament from the Sahel National Union and a member of the National Transitional Council of Niger, stated on social media that the attackers targeted the 101 Air Force Base, but Nigerien security forces have brought the situation under control. The Nigerien government and military have not yet confirmed these reports.On August 29, the Russian Ministry of Defense announced on Saturday that Russian forces had struck a transshipment point at the port of Mykolaiv, Ukraine. The Ministry stated that the berthing area for refueling ships and the unloading point for fuel and lubricants were also targeted.Authorities say three people have been killed in a Ukrainian attack on Russia’s Belgorod region.On August 29th, Baidu AI Cloud announced a recent organizational restructuring of its product and R&D departments. The original Platform Products Business Unit was renamed the Intelligent Agent Business Unit, with its MaaS business, Qianfan brand, and related MaaS products transferred to the Infrastructure Business Unit. The Data Platform Department was renamed the Data Intelligence Department and transferred to the Intelligent Application Business Unit, formerly the Application Products Business Unit. Following the restructuring, the three business units of Baidu AI Cloud are now headed by Hou Zhenyu, Yin Dawei, and Ruan Yu, respectively: Hou Zhenyu is responsible for the Infrastructure Business Unit, managing AI Infra and Agent Infra; Yin Dawei is responsible for the Intelligent Agent Business Unit, focusing on Agent products such as Baidu Dazi, Miaoda, and Famou; and Ruan Yu is responsible for the Intelligent Application Business Unit, managing Baidu Yijian, Hogee, Shengsuan, and industry applications in transportation and finance. All three report directly to Shen Dou, Executive Vice President of Baidu Group and President of the Intelligent Cloud Business Group.On August 29th, at the site of the Gyirong landslide disaster in Shigatse, Tibet, the G216 National Highway was blocked due to the landslide, severely hindering the progress of rescue and relief work. On the 29th, the China Anneng Engineering team dispatched by the Ministry of Emergency Management continued its road clearing operations. It is understood that China Anneng has deployed 60 technical and skilled personnel and mobilized 28 sets of engineering rescue equipment, including excavators and loaders, to work tirelessly to clear the damaged sections of the G216 National Highway, allowing subsequent personnel and heavy machinery to enter and expedite rescue efforts. Rescue personnel are scientifically assessing disaster risks and monitoring surrounding hazards in real time to ensure the efficient implementation of subsequent rescue and relief work. According to on-site rescue personnel, after days of continuous road clearing operations by multiple engineering rescue teams, 2.5 kilometers of road have been cleared, with 1.8 kilometers remaining to the Gyirong border crossing.

Stocks Will Sell Off on Inflation Data – Is a Temporary Bottom Ahead?

Alice Wang

Jul 14, 2022 14:56

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Following a 1.15 percent fall on Monday, the S&P 500 index fell by 0.92 percent on Tuesday. The general stock market reversed a recent advance from the neighborhood highs made last week. From the 3,900–3,950 level, the index once again bounced.


Despite the U.S. dollar's gain and the volatility of commodities last week, the S&P 500 almost fully recovered from its prior fall. But this week's early days saw sellers take the lead once again. Regarding inflation statistics, the Federal Reserve's tightening of monetary policy, the crisis between Russia and Ukraine, and the impending quarter's earnings reporting season, there is still a lot of uncertainty and concern. And after a worse-than-expected CPI announcement this morning, the index is anticipated to start 1.4 percent down.

Conclusion

The Consumer Price Index announcement stated earlier caused investors' attitude to deteriorate, and as a result, the S&P 500 index is most likely to start 1.4 percent down this morning. Prior to Friday's publication of retail sales data and the next quarterly earnings announcements, the market might see an intraday bounce and more gyrations.

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