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According to the Financial Times: Bankers for Anthropic and OpenAI pushed for top credit ratings after their initial public offerings.On September 8th, Bloomberg reported on September 7th that despite the Trump administrations strong opposition to other countries using Huawei AI chips, Malaysia still leans towards relying on Huawei AI chips to provide computing power for its sovereign AI project. According to anonymous sources, Malaysia is seriously evaluating making Huawei AI hardware the core of a RM2 billion (approximately RMB3.317 billion) plan. This plan aims to give Malaysia greater control over its own data. However, it is unclear how many chips Malaysia will purchase. The report states that if Malaysia does proceed with the adoption of Huawei chips, it will be the first known case of a foreign government formally choosing Chinese AI chips over American products.On September 8th, according to sources, the Guangdong Provincial Department of Housing and Urban-Rural Development convened a symposium with real estate companies to understand the impact of the new policies on various projects, the policy support the companies hoped to receive, and their opinions and suggestions on the implementation details in various regions. It is understood that the symposium held by the Guangdong Provincial Department of Housing and Urban-Rural Development will investigate the number, area, number of units, and distribution of projects for which real estate companies have acquired land but have not yet obtained construction planning permits, have obtained construction planning permits but have not yet obtained pre-sale permits, and have obtained pre-sale permits but are still on sale. The symposium will also assess the impact of the new real estate development model policies on these three types of projects, including but not limited to the impact on development, sales, delivery, funding, and debt; the plans and measures of real estate companies to implement the new real estate development model policies; the policy support they hope to receive; and their opinions and suggestions on the implementation details in various regions.September 8th - Analyst Robert Howard stated that the US August CPI data could determine whether the Federal Reserve will favor raising or maintaining interest rates at next weeks decision, and will also impact the dollars performance. According to the median forecast in a Reuters poll, the overall CPI is expected to rise 0.4% month-on-month and 3.4% year-on-year; core CPI is expected to rise 0.2% month-on-month and 2.4% year-on-year. If the data is higher than expected, hawkish voices will rise, calling for a rate hike by the Fed in September, potentially boosting the dollar. Conversely, if the data is weak, doves will advocate for maintaining interest rates unchanged for the sixth consecutive time, which could be detrimental to the dollar. The market currently sees a 57% probability of a Fed rate hike this month, after strong non-farm payroll data last Friday led to a shift in expectations towards a hawkish stance. This shift occurred 24 hours after Fed Governor Waller made dovish comments, which had previously pressured the dollar; seven days earlier, Fed Chairman Warshs hawkish guidance at Jackson Hole had boosted the dollar.September 8 - The Saudi-led coalition in Yemen stated today (September 8) that Houthi rebels attacked civilian and economic facilities in Abha, Khamis Mushait, Najran, and Jizan in southwestern Saudi Arabia, injuring 73 people. The coalition stated that it will respond firmly to the Houthi attacks.

Dow Futures Decline While Indices Drop For Third Session

Skylar Williams

Aug 31, 2022 11:14

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Futures for U.S. equities were trading flat on Tuesday evening, as key benchmark indices extended down for a third consecutive day and investors maintained their retreat in response to Jerome Powell's hawkish remarks at the Jackson Hole Symposium last week.


At 7:20pm ET (11:20pm GMT), Dow Jones Futures were down 0.1%, while S&P 500 Futures were basically stable and Nasdaq 100 Futures were up 0.1%.


In extended trading, shares of Chewy (NYSE:CHWY) fell 11% after the company reported Q2 losses of $0.12 per share, in line with expectations, and revenue of $2.43 billion, vs $2.44 billion projected.


PVH Corp. (NYSE:PVH) declined 3.3% after reporting second-quarter earnings per share of $2.08, above expectations of $2.00, and revenue of $2.13 billion, vs $2.21 billion expected. The firm has announced a 10% reduction in its global workforce.


HP Inc. (NYSE:HPQ) declined 6% after posting EPS of $1.04 for the third quarter, which was in line with market expectations. The actual revenue was $14.66 billion, as opposed to the anticipated $15.69 billion.


Crowdstrike Holdings Inc (NASDAQ:CRWD) fell 0.3% after reporting Q3 earnings of $0.36, above projections of $0.28, on revenue of $535.15 million compared to $515.98 million expected.


Ambarella (NASDAQ:AMBA) fell 6.5% after posting second-quarter earnings per share of $0.20, which was slightly over analyst projections of $0.20. Actual revenue was $80.88 million compared to the forecasted amount of $80.19 million.


ChargePoint Holdings Inc (NYSE:CHPT) climbed 1.5% after reporting second-quarter losses of $0.21 per share, which exceeded the average forecast of $0.20 per share. Contrary to expectations, the second quarter's sales came in at $81.63 million, as opposed to $76.1 million.


Hewlett Packard Enterprise (NYSE:HPE) climbed 1.7% after reporting earnings per share of $0.48 for the third quarter, well above the consensus estimate of $0.47, and revenue of $6.95 billion, exceeding the average estimate of $6.85 billion.


Wednesday's session will be highlighted by remarks from the Federal Reserve's Mester and Bostic, as well as Chicago PMI and ADP employment data.


During Tuesday's regular trading session, the Dow Jones Industrial Average dropped 308.1 points, or 1%, to 31,790.9, the S&P 500 slid 1.1% to 3,986.16, and the NASDAQ Composite dropped 1.1% to 11,883.1.


CB consumer confidence came in above estimates at 103.2, up from 95.3 last month, while JOLTs Job Openings also surprised to the upside, climbing to 11.239 million, beyond forecasts of 10.475 million and up from 11.040 last month.


The 10-Year U.S. bond market interest rate was 3.112%.

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