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On September 9th, sources familiar with the matter revealed that Project Braid, the AI cloud project undertaken by Googles parent company Alphabet (GOOG.O) in partnership with Blackstone Group (BX.N), has encountered delays in data center construction. The $5 billion project, invested in by Blackstone, plans to lease computing resources powered by Googles AI chips to customers by 2027. Sources indicated that Google had previously planned to have AI data center developer Crusoe build the data center in Cheyenne, Wyoming, but subsequently cancelled the arrangement and took over the project, reapplying for the necessary permits. Sources stated that Google lost confidence in Crusoes ability to deliver the project on schedule. Crusoe previously gained attention for its involvement in OpenAI and Oracles flagship "Stargate" data center project in Texas. Furthermore, another data center site selection has been affected by a lack of necessary transformers. Currently, AI data center construction faces bottlenecks such as insufficient power supply and approval delays. Project Braids head stated that the project is still progressing and plans to provide 500 megawatts of computing capacity next year.September 9th - It was learned from the United States on September 8th local time that the US military struck targets near Irans Kharg Island and the port city of Jask. An anonymous senior US official stated that the targets included Iranian oil tankers. On the evening of the 8th local time, Iranian sources reported that an Iranian oil tanker was attacked by US missiles about four miles from Kharg Island. Local sources stated that there were no casualties and the tankers crew was being evacuated. Relevant departments are investigating the specific circumstances of the incident.U.S. officials say that in response to Iran’s repeated missile attacks on U.S. Navy warships, the U.S. military has struck several Iranian oil tankers linked to the Iranian Revolutionary Guard.Heathrow Airport, UK: Air traffic control services have begun to resume.On September 9th, EU High Representative for Foreign Affairs and Security Policy Kalas posted on social media that all EU member states agree that Israeli settlements in the West Bank violate international law. The Israeli governments settlement expansion in the West Bank is undermining the prospects of the two-state solution. Kalas reiterated the EUs firm commitment to supporting a comprehensive, just, and lasting peace based on the two-state solution. On the same day, 12 countries, including the UK, France, and Canada, issued a joint statement making commitments to restrict trade with Israeli settlements.

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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