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February 23 - Analysts say that as skepticism surrounding artificial intelligence grows, Wall Street is increasingly worried that the chip giants earnings this week will drag down its stock price. Nvidias stock has been trading sideways for months, rising only 1.7% since the beginning of the fourth quarter of last year, slightly below the S&P 500s 3.3% gain over the same period. Nvidias recent lackluster performance is largely due to increased investor concerns about spending hundreds of billions of dollars on AI development, leading to capital outflows from large-cap tech stocks. However, the stock market also faces numerous external risks, including geopolitical instability and reduced expectations of interest rate cuts. All of this puts Nvidia in a delicate position when it releases its fourth-quarter and fiscal year results on Wednesday. Investors expect its results to far exceed Wall Street expectations and raise forecasts for the coming quarters. But the company may have little to do or say to drive a meaningful rise in its stock price. Nvidias stock price has fallen after its last two earnings releases.February 23 – The Iranian Foreign Ministry stated that its foreign minister and Iraqi foreign minister held a telephone conversation on Sunday evening. During the call, they reviewed and discussed the latest regional and international situation. The Iranian foreign minister briefed Iraq on the progress of the Iran-US nuclear negotiations. The Iraqi foreign minister emphasized Iraqs support for the ongoing diplomatic process and expressed hope that the ongoing talks would yield favorable results for Iran and bring peace and stability to the region.On February 23, local time, European Parliament International Trade Committee Chairman Alain Lange announced via social media that he would propose a suspension of the European Parliaments ratification of the EU-US trade agreement due to the "chaos" caused by the US Supreme Courts ruling that the US governments massive tariff policies were illegal. Lange stated that clear stipulations and legal certainty are needed before any further measures can be taken, and he will formally propose on the 23rd that the European Parliament temporarily freeze the ratification process of the trade agreement with the US until a proper legal assessment and clear commitment from the US are obtained. The EU-US trade agreement was reached last July, with the US imposing a 15% tariff on EU goods imported into the US.Gaza Situation: 1. Israel says it will not provide funding to the so-called "Peace Committee." 2. Israeli Prime Minister Netanyahu: Plans to establish an alliance system in or within the Middle East. Iran Situation: 1. Iranian Foreign Minister refutes Trumps comments on the number of casualties in the Iranian unrest. 2. Iranian Foreign Minister: May meet with US envoy on the 26th, an agreement with the US is imminent. 3. Omans Foreign Minister says the next round of negotiations will be held in Geneva on the 26th. 4. US media: US and Iranian negotiators are expected to meet in Geneva on Thursday. 5. US media: Several people close to Trump advise against bombing Iran, Senator Graham opposes this. 6. US Presidential Envoy Witkov: Iran may be able to produce industrial-grade bombs "within about a week." 7. British media: Iran refuses to export its highly enriched uranium stockpile but is willing to dilute the enrichment level of the uranium. 8. Iranian media: If war breaks out, Jordan, the Trump familys economic interests in the Persian Gulf, including investments in the UAE, will be the main targets. 9. Iranian official: The negotiations covered nuclear commitments, US commitments to lift sanctions, and economic cooperation; the removal of Irans high-purity uranium stockpile was not discussed. Transferring mines and oil fields to the US is not considered. 10. Senior Iranian official: Iran and the US have disagreements on sanctions relief; the two sides plan indirect talks in early March, possibly reaching a provisional agreement first. 11. US media: Khamenei has completed wartime planning, designating four levels of successors for each military command and government position he appoints. 12. US media: Trump favors initial strikes against Iran in the coming days, with a larger-scale attack possible in the coming months. Other: 1. Pakistan launched airstrikes on multiple civilian areas in Afghanistans Nangarhar and Paktika provinces. 2. The Pakistani military claims to have killed more than 80 people in airstrikes along the Pakistan-Afghanistan border. February 23 – Pakistani military sources stated on the 22nd that airstrikes conducted by the Pakistani military on the night of the 21st along the Pakistan-Afghanistan border resulted in the deaths of over 80 terrorists. The Pakistani Ministry of Information and Broadcasting issued a statement on social media platforms early on the 22nd, saying that the Pakistani military launched airstrikes, precisely targeting seven terrorist camps and hideouts along the Pakistan-Afghanistan border. The statement said that Pakistan took this action in light of a series of recent suicide bombings in Pakistan.

Chinese Stock Market Rises Following A Week-long Holiday

Charlie Brooks

Jan 30, 2023 11:27

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Chinese stock markets climbed strongly on Monday as trading resumed following the Lunar New Year vacation. The government's pledge to increase spending and support economic growth further boosted investor enthusiasm.


The Shanghai Shenzhen CSI 300 index increased 1.3%, while the Shanghai Composite index rose 0.6%, with positive trading in the majority of sectors. In early trading, automobile and industrial companies performed the best, while energy equities declined.


During the holiday season, state media sources indicated that retail travel and spending rebounded substantially to reach pre-pandemic levels, which bodes well for the Chinese economy. The Lunar New Year celebrations of 2023 were the first in three years to occur without any anti-COVID restrictions, following the country's December decision to relax its rigorous zero-COVID policy.


China has reopened its international borders, solidifying a departure from the zero-COVID policy that had shook the economy since 2020.


This week, the focus shifts to important business activity figures, which are anticipated to have improved in January compared to the previous month due to the relaxation of anti-COVID measures.


The world's second-largest economy is still reeling from the repercussions of tough anti-COVID measures, which are slated to continue through 2022. Said limitations had also prompted a severe slowdown in China's economic growth, but the country's fourth-quarter performance was still better than anticipated.


The Chinese government has set out a spate of economic stimulus measures through 2022 in an effort to stimulate GDP. The country's State Council has pledged to promote local economic growth and consumption this year, according to reports from the weekend.


As the country deals with its worst-ever COVID-19 outbreak, it is anticipated that rising COVID-19 illnesses would also postpone a more robust economic recovery.


However, health officials recently reported a dramatic decline in new deaths from the virus, despite the Lunar New Year holiday increasing the likelihood of virus transmission.


Hong Kong stocks lagged behind their Chinese counterparts, with the Hang Seng index falling 0.5% due to weakness in large technology sectors, ahead of a wave of important earnings reports this week. The broad Asian stock market was likewise subdued in advance of this week's Federal Reserve meeting.

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