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Samsung Electronics rose 1.3% in the afternoon, lagging behind the broader market; SK Hynix shares rose 7%.May 13th - Data released Wednesday by consulting firm Benchmark Mineral Intelligence shows that global demand for electric vehicles rose for the second consecutive month in April, primarily driven by persistently high gasoline prices prompting buyers to abandon gasoline-powered cars. BMI stated that, as a measure of sales volume, the number of newly registered pure electric vehicles and plug-in hybrid electric vehicles increased by 6% year-on-year in April, reaching 1.6 million units, although this figure is 9% lower than the record high set in March.The European-Mediterranean Seismological Centre reported that a 4.3-magnitude earthquake struck off the coast of Chiapas, Mexico, at 12:05:41 Beijing time, with a focal depth of 15 kilometers.On May 13th, at the Create2026 Baidu AI Developer Conference, Shen Dou, Executive Vice President of Baidu Group and President of Baidu Smart Cloud Business Group, revealed that the Kunlun Chip P800 has completed large-scale verification, and multiple 10,000-card clusters have been delivered since 2025. Furthermore, on the Kunlun Chips domestically produced clusters, training on the important version 5.1 of Wenxin has been successfully completed, achieving an effective training rate of 97% for the entire cluster. The linear scalability of the 10,000-card cluster exceeds 85%, meeting the requirements of cutting-edge large-scale model training for computational accuracy, operator stability, framework adaptation, and long-term operation. In addition, the Tianchi 256-card supernode based on the Kunlun Chip was lit up last month and will be officially launched in June.On May 13th, Dirk Pant, the Minister of Economic Affairs of Saxony, Germany, stated that as the German automotive industry faces pressure to transform, a more pragmatic approach should be taken to cooperation with Chinese automakers. He suggested introducing Chinese partners to participate in the states automotive plants through joint ventures and other means. Pant also noted that the global automotive industry landscape is undergoing profound changes, with China becoming an innovation driver and industry leader in areas such as electric vehicles and battery technology. Chinese automakers and joint ventures have already begun local production in several European countries. "Anyone who hopes to secure the future of the Saxon and even the German automotive industry cannot ignore this reality," he said.

Dow Futures Unchanged; Apple and Amazon Issue Statements

Skylar Williams

Jul 29, 2022 11:19

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The bulk of U.S. stock futures were higher on Thursday evening, after a strong day for key benchmark indexes, as earnings releases from large technology companies boosted risk appetite.


At 7:10pm ET (11:00pm GMT), Dow Jones Futures remained steady, while S&P 500 Futures and Nasdaq 100 Futures increased 0.4% and 1.1%, respectively.


Apple (NASDAQ:AAPL) rose 3 percent in extended trade after posting Q3 earnings per share of $1.20, above estimates of $1.16, and revenue of $82.96 billion, vs $82.59 billion expected.


Amazon (NASDAQ:AMZN) surged 13.6% after reporting Q2 losses of $0.20 per share, $0.33 worse than the consensus forecast of $0.13. The actual revenue was $121.23 billion, as opposed to the anticipated $119.18 billion.


Intel (NASDAQ:INTC) slumped 8.5% after announcing Q2 EPS of $0.29, well below analyst estimates of $0.70, on revenues of $15.32 billion as opposed to $17.96 billion.


United States Steel Corporation (NYSE:X) rose 3.5% after reporting Q2 profits per share of $3.86, above estimates of $3.50, and revenues of $6.29 billion, exceeding estimates of $5.50 billion.


Roku (NASDAQ:ROKU) lost $0.82 per share in the second quarter, which was worse than the average expectation of $0.68 per share. Actual sales was $764.4 million, which was less than the $804.13 million expected.


DexCom Inc (NASDAQ:DXCM) plummeted 17.8 percent after the company reported Q2 earnings per share of $0.17 instead of $0.19 and revenue of $696.2 million instead of $704.45 million.


Significant inflation data and second-quarter employment expenses will dominate Friday's session, along with earnings announcements from Chevron Corp (NYSE:CVX), Exxon Mobil Corp (NYSE:XOM), and Procter & Gamble Company (NYSE:PG) (NYSE:PG).


During Thursday's usual trading day, the Dow Jones Industrial Average increased 332 points, or 1%, to 32,529.6, the S&P 500 increased 48.8 points, or 1.2 percent, to 4,072.4, and the technology-focused NASDAQ Composite increased 130.2 points, or 1.1 percent, to 12,522.6.


This week, risk appetite increased as the Federal Reserve delivered a 75 basis point rate decrease and remained more dovish than expected on Wednesday, and as Thursday's dismal GDP data increased the chances of a Fed pause in interest rate increases.


The 10-Year United States interest rate was 2.671% in the bond markets.