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On August 26th, it was reported that in July, total electricity consumption in China exceeded 1 trillion kilowatt-hours again, with electricity consumption for internet data services increasing by 40% year-on-year. Computing power is becoming a significant source of new electricity consumption. In August, the peak electricity load of a smart computing center in Changshu, Jiangsu Province, increased by over 70% compared to the same period last year. The peak electricity load of the computing power industry reached 200,000 kilowatts, accounting for approximately 4.1% of the citys total electricity load. The State Grid Changshu Power Supply Company stated that the computing power industry contributed nearly half of the citys increased electricity load, accounting for approximately 49%, reflecting that computing power load is gradually replacing seasonal air conditioning load as the core driver of electricity consumption growth this summer. In July, the electricity consumption of 106 computing power centers in Jiangsu Province exceeded 1.3 billion kilowatt-hours, a year-on-year increase of 31%, with supercomputing and smart computing centers accounting for over 80% of the total.The Bank of Thailand: The Monetary Policy Committee unanimously voted to keep interest rates unchanged.Dubai International Airport (DISA) reported on August 26 that passenger traffic fell by nearly a third in the first half of the year due to disruptions caused by the war in Iran, but expects demand to recover in the second half. DISA stated that passenger traffic reached 13 million in the second quarter, bringing the total for the first half of the year to 31.5 million. Despite a rebound in traffic in May and June, first-half traffic was still 31% lower than the record level set in the same period last year. The war in Iran has led to a global readjustment of air routes, repeatedly disrupting DISA. In May, the airport announced it had postponed its target of 100 million annual passengers by one year due to the significant drop in passenger traffic. Major Middle Eastern airlines Emirates, Qatar Airways, and Etihad Airways have all reduced operations and adjusted their international route networks to accommodate increased travel demand during the war. Several European airlines have also suspended flights to multiple destinations in the region and avoided the airspace of several Gulf states.August 26th - According to the Guangdong Branch of the General Administration of Customs, in the first seven months of this year, the import and export volume of comprehensive bonded zones (including cross-border industrial zones and bonded areas) in Guangdong Province reached 1.05 trillion yuan, a year-on-year increase of 32.3%, setting a new record for the same period in history and surpassing the trillion-yuan mark two months earlier than last year. While Guangdongs foreign trade has exceeded one trillion yuan for two consecutive months, the provinces comprehensive bonded zones continue to play a driving role, contributing 23.3% to Guangdongs foreign trade growth in the first seven months of this year.On August 26, Hu Zhenjiang, Deputy Director of the Civil Aviation Administration of China, met with Airbus Groups Chief Technology Officer and Executive Vice President of Commercial Airplanes, Mr. Marard, in Beijing. The two sides exchanged views on Airbuss business development in China and further strengthening cooperation in aviation safety, aircraft airworthiness, and maintenance support capabilities.

S&P 500 Rallies 0.5%, Netflix Gains Nearly 7% on Upbeat Subscriber Outlook

Cory Russell

Jul 21, 2022 15:17

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All Major US Indices Remain Above 50DMA as S&P 500 and Nasdaq 100 Rally

The major US market indices were mixed on Wednesday, with the S&P 500 and Nasdaq 100 indexes doing better than the Dow Jones Industrial Average despite being more heavily weighted toward large technology and growth stocks. The first two were both successful in reaching their highest points in almost a month.


The fact that all three of the main indexes were able to retake their 50-Day Moving Averages for the first time since April is one important finding from the US equities markets on Wednesday, suggesting that the current bullish change in momentum may have more legs.


According to analysts, the main indexes are benefiting from the US earnings season's better-than-expected start. After the closing, the electric vehicle manufacturer Tesla is scheduled to release its profits.


Data suggesting that existing house sales fell to a two-year low in June after surging to record highs during the epidemic last summer were ignored by US equities markets. The US home market has recently suffered from a sluggish economy, a deteriorating cost-of-living issue, and a dramatic increase in interest rates.


Despite the grim forecast, most existing houses sold in June were listed for less than a month, according to LPL Financial's chief economist Jeffrey Roach, who was reported by Reuters. This suggests that despite a weakening economy, there is still a fundamental need for house ownership.

Large-Cap Growth Stocks Are the Front-Runners

Stronger than anticipated Netflix results sent the company's share price higher, driving the rise in the US equities markets on Wednesday. These huge tech/growth stock dominated information technology and consumer discretionary GICS S&P 500 sectors. The streaming service said that it lost roughly 1 million customers in the second quarter but anticipated that its subscriber count will begin to increase once again in the third quarter.


Other members of the once-dominant FAANG group of companies rallied in response to Netflix's positive Q3 projection. FAANG stands for Google, Apple, Amazon, Netflix, and Facebook (now known as Meta Platforms) (whose parent company is called Alphabet). By the end of the next week, Alphabet, Meta, and Amazon will all have released their results.


Semiconductor manufacturers were another significant outperforming segment of the US equities market. Analysts pointed to the fact that the US Senate approved measures aimed at bolstering the US semiconductor sector on Tuesday as the reason for the Philadelphia Semiconductor index's increase of more than 2% on Wednesday.


The share price of Merck & Co. decreased after the cancer treatment medicine Keytruda failed to reach end-point goals in a late-stage neck and head cancer study, one of the significant individual movers.

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