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On May 18th, Morningstar analyst Chelsey Tam believes Meituans (03690.HK) long-term profit outlook looks very optimistic. She points to Meituans well-developed network and loyal core user base. She anticipates that its competitor, Alibaba (09988.HK), will prioritize investments in artificial intelligence over its fast-commerce sector, as Alibaba is unlikely to maintain high levels of investment in both areas simultaneously in the medium to long term. She adds that this could benefit Meituans fast-commerce segment and potentially provide clearer guidance on the timing of its profit recovery. Morningstar maintains its fair value assessment of Meituan at HK$85.70 per share and considers its stock attractive.Nomura Securities: Tencent Holdings (00700.HK)’s core business is solid, supporting AI investment; rating: Buy.The onshore yuan closed at 6.7979 against the US dollar at 16:30 on May 18, up 73 points from the previous trading day.May 18 - Pakistani sources say Pakistan has handed over to the United States a revised proposal from Iran to end the war, and the U.S. has received the proposal.On May 18th, Musk stated on Monday that he expects self-driving cars without human drivers to become more widespread in the United States later this year. In a speech, Musk mentioned that driverless cars are already operating without safety supervisors in three Texas cities, adding that this model will expand nationwide this year. He said, "Five years from now, even ten years from now… roughly 90% of the mileage will be done by artificial intelligence in self-driving cars. Therefore, ten years from now, driving a car yourself will be a rather niche activity."

E-mini NASDAQ-100 Index In Position to Challenge Next Main Top at 12973.75

Alice Wang

Jul 22, 2022 15:36



Late in the session on Thursday, September E-mini NASDAQ-100 Index futures are trading higher, putting the index in a position to notch its third consecutive gain and the fifth higher session out of six. As initially fluctuating between gains and losses, the technology-focused index gained momentum after Tesla jumped 9.78 percent after its quarterly reports.


September E-mini NASDAQ-100 Index futures are now trading at 12591.25, up 126.00 or 1.01 percent, at 18:45 GMT. The Invesco QQQ Trust ETF (QQQ) is now trading at $307.43, an increase of $4.40 or 1.45%.


Tesla may have been the session's top gainer, but shares of NetEase Inc., ASML Holding NV, and CSX Corp. all increased significantly during that time, rising 6.16 percent, 5.41 percent, and 4.24 percent, respectively.


The weekly initial unemployment claims reached a new eight-month high in the United States, while a measure of manufacturing activity in the mid-Atlantic area for July fell to its lowest level in just over two years.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward. The uptrend will be confirmed if a transaction is made through the intraday high of 12621.00, with the next major peak objective being 12973.75. The primary trend will switch to down if a transaction is made through 11479.25.


The midpoint is between 14327.50 and 11068.50. Its retracement range, from 12698.00 to 13082.50, is the main region to aim for on the upside.


The immediate range is between 12973.75 and 11068.50. The index is now trading between 12246.00 to 12021.00, which is support, on the high side of its retracement zone.

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