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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.

Will Q3 Earnings Help Stock Bulls?

Alice Wang

Oct 25, 2022 16:08


Q3 Results

The third quarter's earnings have so far exceeded many Wall Street forecasts. The S&P 500 has only reported from roughly 7% of its businesses, and bears are eager to point out that the earnings "beating" that have been produced so far have been against expectations that were much lower than they had been.


Bears also point out that the Energy sector, whose profits growth is predicted to be close to +120%, will account for the majority of Q3 earnings growth. With the exception of the Energy sector, the S&P 500 index's Q3 profits are anticipated to be -5.7% lower than they were in the prior year, with 7 of the index's 11 sectors forecast to have negative year-over-year earnings growth.


Exxon and Chevron, two major oil companies, will release earnings reports on Friday.


The Technology sector is at the opposite end of the spectrum, where profits are anticipated to decline by more than -14% in Q3 and more than -9% in Q4 2022.


This week, the biggest tech companies in the world all release earnings reports: Alphabet and Microsoft on Tuesday, Meta on Wednesday, Apple and Amazon on Thursday.


Alphabet's stock is down more than 25% year to date, while Microsoft is down close to 30%, Meta is down close to 40%, Apple is down close to -19%, and Amazon is down more than 30%.


Analysts appear to believe that companies that rely on advertising would suffer the most, while cloud computing is predicted to continue growing, although more slowly.


Investors are also interested in learning how different IT businesses may be impacted by US government sanctions against China. Today's results will be highlighted by HSBC and Discover Financial Services.