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August 4th - Recently, the Cyberspace Administration of China (CAC) launched a special campaign called "Clean Up the Online Environment and Rectify Malicious Hype of Enterprise-Related Information." Based on letters from relevant departments and local cyberspace administrations, a number of illegal and irregular accounts that infringe upon the legitimate online rights and interests of enterprises and entrepreneurs will be dealt with severely.According to JLC Network Technology, several airlines will lower domestic fuel surcharges starting from midnight on August 5th, marking the third reduction this year. After the adjustment, adult passengers will be charged 40 yuan for flights of 800 kilometers or less, and 70 yuan for flights over 800 kilometers, a decrease of 10 yuan and 30 yuan respectively compared to before the adjustment. 1. This fee has fluctuated throughout the year: it remained low in the first quarter (10 yuan for flights under 800 kilometers, 20 yuan for flights over 800 kilometers); due to geopolitical conflicts, international crude oil and jet fuel prices rose, leading to consecutive increases in April and May, peaking in May (90 yuan/170 yuan); subsequently, with the easing of geopolitical tensions and falling oil prices, it decreased twice in June and July, finally seeing a third consecutive drop on August 5th. 2. Domestic fuel surcharges are linked to aviation kerosene prices and are determined by the National Development and Reform Commission and the Civil Aviation Administration of China based on international oil prices, which airlines then implement. Currently, it is still summer vacation, and long-distance travel is increasing; this reduction will slightly lower the cost of long-distance air travel for the public.On August 4th, Japanese Economy, Trade and Industry Minister Minoru Jonouchi stated that the cost increases caused by the Middle East conflict have so far had a limited impact on consumer prices, and offered a relatively optimistic assessment of inflation risks. Jonouchi said, "The overall Consumer Price Index (CPI) rose 1.7% year-on-year in June, indicating that the rate of price increases remains relatively moderate." He made these remarks in response to the Bank of Japans warning last week regarding the "increased risk of inflation exceeding expectations." However, Jonouchi added, "We do need to remain vigilant, as costs may gradually be passed on to food and other consumer goods prices from this summer to autumn."The China Earthquake Networks Center officially reported that a magnitude 3.4 earthquake occurred at 10:25 a.m. on August 4 in Gao County, Yibin City, Sichuan Province (28.53 degrees north latitude, 104.67 degrees east longitude), with a focal depth of 5 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.3 occurred at 10:25 AM on August 4th near Gao County, Yibin City, Sichuan Province (28.53°N, 104.67°E). The final result is subject to the official rapid report.

Dow Futures fall whilst major indices rise

Aria Thomas

Aug 18, 2022 10:50

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In the evening session on Wednesday, U.S. stock futures traded lower as major benchmark indices ended a five-day winning streak and risk sentiment deteriorated as Federal Reserve members signaled extra rate hikes to combat inflation.


Dow Jones Futures, S&P 500 Futures, and Nasdaq 100 Futures all down by 0.1% by 7:00 p.m. ET (11:00 p.m. GMT), while Nasdaq 100 Futures declined by 0.2%.


Wolfspeed Inc (NYSE:WOLF) rose 18.6% in extended trade after reporting Q4 losses of $0.02 per share, which were better than the average expectation of $0.10. Rather than the anticipated $209.31 million, the actual revenue was $228.5 million.


Cisco Systems (NASDAQ:CSCO) rose 4.5% after reporting fourth-quarter earnings per share of $0.83 versus the average estimate of $0.82 and revenue of $13.1 billion versus the consensus estimate of $12.73 billion.


Bath & Body Works Inc. (NYSE:BBWI) declined 2.1% after posting second-quarter earnings per share of $0.52, which was above the consensus estimate of $0.44, and revenues of $1.62 billion, which were in line with forecasts.


Earnings results from Applied Materials Inc (NASDAQ:AMAT), Kohls Corp (NYSE:KSS), Tapestry Inc (NYSE:TPR), Estee Lauder Companies Inc (NYSE:EL), and Ross Stores Inc (NASDAQ:ROST) will be eagerly followed.


The Dow Jones Industrial Average fell 171.7 points, or 0.5%, to 33,980 during Wednesday's regular trading session.


The S&P 500 fell 31.2 points, or 0.7%, to 4,274, while the NASDAQ Composite down 164.4 points, or 1.3%, to 12,803.2.


Following the release of the most recent Federal Reserve meeting minutes, sentiment towards risk deteriorated throughout the session. In order to battle inflation, policymakers are likely to continue raising interest rates, but they have indicated that the rate of tightening could be changed based on market conditions.


The 10-Year U.S. bond market interest rate was 2.902%.