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NASA: The overall goal of a lunar landing in 2028 remains unchanged.February 27th - According to the Wall Street Journal, sources familiar with the matter revealed that officials from multiple U.S. federal agencies have expressed concerns in recent months about the security and reliability of Elon Musks xAI artificial intelligence tools, highlighting ongoing disagreements within the U.S. government regarding which AI models should be adopted. These warnings came before the Pentagon made a decision this week aimed at placing xAI at the heart of some of the most sensitive and classified operations in the U.S., agreeing to allow the use of its chatbot "Grok" in classified environments.Market news: The United States has removed several individuals from its sanctions lists against Russia and Lebanon.NASA plans to reduce the complexity of the Space Launch System and increase launch frequency.February 27th - U.S. stocks opened lower as risk aversion swept the market, while massive layoffs at fintech company Block exacerbated concerns that artificial intelligence would disrupt numerous sectors of the economy. The U.S. January PPI, 0.5% higher than expected (primarily driven by the service sector), also weighed on stocks, as it suggests inflationary pressures that may prevent the Federal Reserve from lowering interest rates. Nvidia, the largest-weighted stock in the S&P 500, continued to decline after its earnings report. Deutsche Bank strategist Jim Reid wrote, "The size of its better-than-expected earnings is not what the market is used to in 2023-2024, and it comes against a backdrop of widespread skepticism about the entire AI deal."

E-mini NASDAQ-100 Index In Position to Challenge Next Main Top at 12973.75

Alice Wang

Jul 22, 2022 15:36



Late in the session on Thursday, September E-mini NASDAQ-100 Index futures are trading higher, putting the index in a position to notch its third consecutive gain and the fifth higher session out of six. As initially fluctuating between gains and losses, the technology-focused index gained momentum after Tesla jumped 9.78 percent after its quarterly reports.


September E-mini NASDAQ-100 Index futures are now trading at 12591.25, up 126.00 or 1.01 percent, at 18:45 GMT. The Invesco QQQ Trust ETF (QQQ) is now trading at $307.43, an increase of $4.40 or 1.45%.


Tesla may have been the session's top gainer, but shares of NetEase Inc., ASML Holding NV, and CSX Corp. all increased significantly during that time, rising 6.16 percent, 5.41 percent, and 4.24 percent, respectively.


The weekly initial unemployment claims reached a new eight-month high in the United States, while a measure of manufacturing activity in the mid-Atlantic area for July fell to its lowest level in just over two years.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The uptrend will be confirmed if a transaction is made through the intraday high of 12621.00, with the next major peak objective being 12973.75. The primary trend will switch to down if a transaction is made through 11479.25.


The midpoint is between 14327.50 and 11068.50. Its retracement range, from 12698.00 to 13082.50, is the main region to aim for on the upside.


The immediate range is between 12973.75 and 11068.50. The index is now trading between 12246.00 to 12021.00, which is support, on the high side of its retracement zone.

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