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On July 16th, the National Center for Disease Control and Prevention (CDC) held a press conference. Chang Zhaorui, a researcher at the Infectious Disease Department of the Chinese Center for Disease Control and Prevention, stated that since October 2025, my countrys COVID-19 epidemic has remained at the inter-epidemic level for eight and a half consecutive months, indicating relatively low viral activity. The epidemic saw a slight increase in late May this year, but returned to a low-epidemic level by mid-June. Recently, the positive rate of COVID-19 tests at sentinel hospitals nationwide has increased, suggesting that although the epidemic is on the rise, it remains at a low-epidemic level overall. The main circulating strain in my country is still the NB.1.8.1 series variant, and current monitoring shows no new variants that may pose additional public health risks. Currently, the COVID-19 epidemic has evolved into a common respiratory infectious disease, and there is no need for excessive anxiety regarding normal fluctuations in the epidemic.Omron: Will expand its cooperation with NVIDIA in the field of semiconductor wafer inspection technology.NVIDIA (NVDA.O): Fujitsu, FANUC, Yaskawa Electric and Kawasaki Heavy Industries will collaborate to develop a physical AI industrial platform using the NVIDIA platform.On July 16th, CLSA issued a research report predicting that Baidus (BIDU.O) core business revenue in the second quarter of 2026 will decline by 4.2% year-on-year to RMB 25.1 billion. Marketing revenue is expected to decline by approximately 22% year-on-year due to continued disruptions to the search business. AI cloud infrastructure revenue is expected to grow by 56% year-on-year to RMB 7.6 billion, while subscription revenue will see its year-on-year growth further accelerate from 184% in the first quarter. Dragged down by a decline in high-margin online marketing revenue and increased investment in model training, CLSA currently estimates that Baidus adjusted core EBIT in the second quarter will decline by 14% year-on-year to RMB 3.8 billion, with an adjusted EBIT margin of approximately 15%. CLSA believes that Baidus AI transformation path is not smooth. Insufficient model competitiveness may lead to a further slowdown in the search business, and the lack of MaaS and application revenue in the cloud business will further complicate matters. CLSA has lowered its adjusted net profit forecasts for 2026 and 2027 by 24% and 18%, respectively, and lowered its target price for Baidus US-listed shares from $176 to $150, while maintaining its "Outperform" rating.On July 16th, the China Automotive Power Battery Industry Innovation Alliance released its June 2026 power battery data. In June, my countrys sales of power and energy storage batteries reached 196.0 GWh, a 7.6% increase month-on-month and a 49.1% increase year-on-year. Of this, power battery sales were 133.4 GWh, accounting for 68.1% of total sales, a 5.0% increase month-on-month and a 41.8% increase year-on-year; energy storage battery sales were 62.6 GWh, accounting for 31.9% of total sales, a 13.4% increase month-on-month and a 67.5% increase year-on-year. From January to June, my countrys cumulative sales of power and energy storage batteries reached 979.4 GWh, a cumulative year-on-year increase of 48.6%. Of this, cumulative power battery sales were 661.3 GWh, accounting for 67.5% of total sales, a 36.2% increase year-on-year; cumulative energy storage battery sales were 318.1 GWh, accounting for 32.5% of total sales, an 83.4% increase year-on-year.

Early Support for ETH and BTC, with US Economic Indicators in Focus

Alina Haynes

Nov 03, 2022 19:39

 截屏2022-11-03 下午7.34.53.png

 

Wednesday saw Bitcoin (BTC) and Ethereum (ETH) join the larger market in the red. The NASDAQ Composite Index, Bitcoin, and Ethereum all fell in response to Fed Chair Powell's news conference. Nevertheless, the technical indications continue to be optimistic, indicating upward price trends. On Wednesday, Ethereum (ETH) fell 3.80%. Reversing Tuesday's gain of 0.32%, ETH closed the day at $1,518.

 

After a turbulent morning session, ETH recovered to a high of $1,622 by late afternoon. ETH surpassed the First Major Resistance Level (R1) at $1,606 prior to falling to a late low of $1,506. ETH ended the day below $1,520 after breaking through the First Major Support Level (S1) at $1,556 and the Second Major Support Level (S2) at $1,535.

 

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On Wednesday, the price of bitcoin (BTC) plummeted by 1.63 percent. BTC ended Tuesday at $20,165, a decrease of 0.04% from its opening price.

 

BTC rose to a high of $20,817 in response to the FOMC Statement, following a range-bound morning. BTC surpassed the First Major Resistance Level (R1) at $20,686 before falling to an intraday low of $20,086. BTC went below the First and Second Major Support Levels (S1 and S2) at $20,327 and $20,154, respectively.

 

In accordance with forecasts, the Fed raised rates by 75 basis points on Wednesday. The FOMC Statement hinted at a likely policy move in December, lending credence to December Fed pivot wagers. The Rate Statement pushed BTC and ETH to their daily peaks.

 

However, Fed Chair Powell dashed prospects for a reversal, citing excessive inflation and the need to continue forward. Powell remarked that the "final level of interest rates will be higher than anticipated."

 

As a result, the NASDAQ Composite Index fell 3.36 percent, sending BTC and ETH into the negative.

 

Today, attention will be on US factory orders, jobless claims, and the ISM Non-Manufacturing PMI. We anticipate the PMI and its subcomponents to have the most effect.

 

Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini was up 35 points this morning.


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