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August 31st - According to the Financial Times, major tech giants reaped over $160 billion in unexpected gains from investments in other AI companies last quarter, boosting their profits but also raising concerns that these paper gains may have exaggerated the true strength of the AI ​​boom. Alphabet, Amazon, Nvidia, and Microsoft all reported significant boosts to their pre-tax profits in their recent earnings reports due to the "other income" item on their financial statements. This income primarily stemmed from valuation gains from equity investments in other leading AI companies. These one-off valuation gains largely reflect market enthusiasm for AI. These gains could distort corporate financial performance as investors scrutinize tech company earnings to assess the health of the AI ​​ecosystem. "A few years ago, investors started questioning the cyclical nature of Big Techs revenue," said Ben Snyder, chief U.S. equity strategist at Goldman Sachs. He added that the profit growth from AI investments now "raises the question: Is the growth these companies are reporting based on underlying demand, or is it somewhat misleading?"August 31 - According to a report from the National Seismological Center of the University of Chile, a 5.1-magnitude earthquake struck the Arica and Paranacota region in northern Chile at 12:04 local time on August 30, with a focal depth of 108.25 kilometers. There are currently no reports of casualties or property damage.According to the Financial Times, major tech companies have gained $160 billion in profits due to their stakes in other artificial intelligence companies.On August 31, local time, Russian Presidential Press Secretary Dmitry Peskov stated on August 30 that a meeting between Russian President Vladimir Putin, US President Donald Trump, and Ukrainian President Volodymyr Zelenskyy would only be possible when an existing agreement needs to be finalized. He emphasized that the agreement on the Ukraine issue is not a "primitive deal," but a complex process involving many details. Peskov also stated that Russia is open to negotiations, but currently lacks the necessary preconditions.On August 31, Al Jazeera, citing the Yemeni Armed Forces Media Center, reported that the Yemeni government navy intercepted a shipment of military parts and equipment in the Red Sea, which were "provided by Iran to its ally, the Houthi rebels." The shipment was intercepted on August 24. Subsequent video footage showed that the cargo included parts for manufacturing and developing drones. Meanwhile, the Yemeni government forces stated that they conducted a preemptive strike in the Red Sea, destroying an unmanned surface vessel operated by the Houthis. The Yemeni Armed Forces Media Center released a video claiming that the footage showed the unmanned surface vessel being destroyed "before it could be used to attack ships."

S&P 500 Price Forecast – Stock Markets Continue to See Selling Pressure

Skylar Shaw

Sep 30, 2022 15:09

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Technical Analysis of the S&P 500

Due to the continued strong downward pressure on stock markets, the S&P 500 E-mini contract has been quite bearish throughout Thursday's trading session. In the end, a lot of things are happening all around the globe, and the US dollar is strengthening. The S&P 500 won't do well in that climate, and neither will any other stock index, for that matter. I like fading rallies, and I also enjoy the notion of shorting those who do experience that break down below the 3600 mark.


The S&P 500 will likely have dropped below the 3500 level by then, which is a big, round, psychologically meaningful number. In the end, this is a market that, given enough time, should see a lot of volatility and, therefore, a lot of causes for people to feel uneasy. Nevertheless, bear market rallies have a reputation for being rather nasty, so an occasional snap to the upside is possible.


Given the market's continued exposure to a lot of outside unfavorable impact, they will almost certainly remain selling opportunities. Interest rates, global slowdowns, and a slew of other geopolitical concerns are all producing problems at the moment. In the end, I believe that in this situation, with enough time, we should see significant downward pressure. In light of this, maintain a manageable position size and refrain from going all in on each transaction you make. In a market like this, sound money management is essential.

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