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Japans April trade balance will be released in ten minutes.On June 8th, South Korean internet giant NAVER and NVIDIA announced that NAVER will expand its self-developed AI infrastructure based on the NVIDIA DSX platform. The initial phase will be launched at the Sejong GAK data center with a capacity of 55 megawatts, with plans to gradually expand to gigawatt-level scale, providing services to South Korean enterprises, manufacturers, government agencies, and global AI cloud customers. At the model level, NAVER will utilize NVIDIAs full-stack AI platform to advance the development of its next-generation HyperCLOVAX model and fine-tune it based on the NVIDIA Nemotron3 Ultra open-source model, creating a localized model for the Korean-speaking and global enterprise markets. NAVER also becomes the first South Korean company to join the NVIDIA Nemotron Alliance and plans to launch its AI agent platform in South Korea in the second half of the year.On June 8th, SK Telecom and NVIDIA announced that SK Telecom plans to build a gigawatt-scale AI cloud infrastructure in South Korea based on the NVIDIA DSX platform. The first AI factory is expected to be operational in 2027, with plans to expand to a wider area in Asia in the future. This AI cloud will be built on the NVIDIA DSX full-stack reference architecture, supporting training, inference, and agent workloads, covering sovereign AI, physical AI, and enterprise AI application scenarios. SK Telecom will also join the NVIDIA Cloud Partner Program. At the same time, NVIDIA and the SK Group announced plans to conduct joint research to explore next-generation AI factory architectures, focusing on full-stack innovation from chips to the power grid, covering accelerated computing, storage technologies, and data center operations.Futures News, June 8th: The US-Iran war has entered its 100th day, with military friction escalating and the situation showing no signs of improvement. Iran launched a surprise attack on Israel in the early hours of the morning, effectively breaking the ceasefire agreement and deepening the shipping crisis in the Straits of Hormuz; OPEC+s increased production is insufficient to offset the shortfall; US inventories have declined for seven consecutive weeks, and global crude oil inventories are at low levels. Multiple factors have pushed up risk premiums, resulting in a significant gap up in early Asian trading this week.On June 8th, local time, Ukrainian President Volodymyr Zelenskyy unveiled a new concept for resolving the conflict on the 7th. The core of the plan is a ceasefire to maintain the current posture, followed by negotiations to resolve disputes and quickly end the military conflict, maximizing the protection of civilian and military lives. Zelenskyy stated that this model is currently the fastest way to end the conflict. He pointed out that maintaining the current ceasefire does not mean Ukraine is relinquishing its territorial sovereignty; the core purpose is to protect the lives of its citizens, solidify the current situation, and create favorable conditions and sufficient space for subsequent peace negotiations. Zelenskyy also set clear requirements for the ceasefire conditions. He emphasized that the ceasefire must be comprehensive and monitorable, requiring the participation of international partners such as the United States and Europe to establish a sound international monitoring mechanism. Furthermore, he added that the ceasefire is only a phase, not the final outcome. After a comprehensive ceasefire is implemented, all parties must immediately initiate a diplomatic mediation process, relying on dialogue and consultation to explore a long-term solution to completely end the war.

S&P 500 Price Forecast — Stock Market Looking for Footing

Florala Chen

Aug 24, 2022 15:54

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In the E-mini contract, the S&P 500 has gained a little bit of stability during the Tuesday trading session as we get closer to a critical support level.

Technical Analysis of the S&P 500

In the early stages of the E-mini contract, the S&P 500 has moved in a rather narrow range. Having said that, this week is the Jackson Hole Symposium, which is practically guaranteed to make a lot of noise. In this case, I believe the trading public will be paying great heed to central bankers' pronouncements, which, of course, may sometimes result in complete pandemonium.


In this case, I believe we could have a brief rebound followed by increased selling pressure. The 200-Day EMA is located around 4185, and there is considerable resistance at the 4300 level above. It's also important to pay attention to the 50-Day EMA, which is at 4082 and climbing below; it may provide dynamic support.


I do believe that it is extremely possible that traders will look to the 50-Day EMA to salvage the market upward, regardless of whether or not this turns out to be the case. If we break it down below that, the market is probably just trying to get to the 4000 level. Anything below the 4000 mark indicates that we have once again altered our mentality and that more downside is yet to come.


One thing you can certainly bet on, in my opinion, is a lot of noisy volatility, mostly as a result of the central bankers' ranting in Wyoming. They will almost certainly underline their resolve to battle inflation, which means that monetary policies will continue to tighten throughout the globe.

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