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OpenAI: Starting next week, ChatGPT advertising will expand to 31 European countries.On August 19th, Morgan Stanley lowered its core revenue forecasts for Baidu (BIDU.O) by 1% to 9% for 2026 to 2028, and its non-GAAP operating profit forecasts by 6% to 31%, to reflect weak revenue and increased investment in artificial intelligence. The target price for Baidus US-listed shares was significantly lowered by 38.5% to $80 from $130, equivalent to a 2027 projected price-to-earnings ratio of 10x, and the rating was downgraded from "Equal-weight" to "Underweight".DecisionTable, a U.S. election forecasting organization, predicts that Democrat Mary Peltola will advance to the U.S. Senate race in Alaska.DecisionTable, a U.S. election forecasting organization, predicts that Republican Senator Sullivan will advance to the U.S. Senate race in Alaska.On August 19th, Morgan Stanley issued a report stating that Xiaomi Group (01810.HK) reported adjusted net profit of RMB 6.219 billion in the second quarter, a 43% year-on-year decrease but a 2% quarter-on-quarter increase. Revenue and gross margin from the smartphone business significantly exceeded the banks expectations, while revenue from the electric vehicle and IoT businesses slightly missed expectations. Management stated that the increase in storage prices will normalize in the second half of the year, which is expected to reduce the negative impact on smartphone gross margins. The bank expects smartphone gross margins to remain resilient in the second half of the year, becoming a positive surprise and a catalyst for revaluation. Morgan Stanley maintains its "Overweight" rating on Xiaomi with a target price of HKD 32.

Gold Prices Increase in Response to Inflation Fears And Ukraine Concerns

Charlie Brooks

Apr 08, 2022 09:26

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By 2:13 p.m. ET, spot gold XAU= was up 0.5 percent to $1,934.69 per ounce (1812 GMT). Gold futures in the United States increased by 0.8 percent to $1,937.80.


"Once inflation resumes, which I believe it will, it will work in favor of gold, even in the face of the Fed's aggressive monetary policy," Jim Wycoff, senior analyst at Kitco Metals, said.


The Fed's March meeting minutes revealed growing anxiety among officials that inflation had spread across the economy, with "many" members preparing to hike interest rates in large 50-basis-point increments in the coming sessions. 


Rising interest rates in the United States raise the potential cost of bullion holdings while strengthening the currency.


The dollar index =USD eased off a near two-year high reached earlier in the day, while benchmark US 10-year Treasury rates likewise remained around a multi-year high reached on Wednesday. 


Ukraine has increased its requests for crushing financial penalties to compel Moscow to terminate the conflict, while NATO nations have decided to bolster their support for Kyiv. 


Wall Street's major indexes sank for the third consecutive day, as growth stocks extended losses on worries about a more hawkish Federal Reserve and the Ukraine crisis.


Palladium XPD= increased by up to 3.7 percent to about $2,278 per ounce.


"Palladium has historically been quite volatile. Today's focus is on recouping some of yesterday's losses, "Miguel Perez-Santalla, Heraeus Metals Management's head of trading, sales, and marketing in New York, concurred. (Entire Story)


Russia produces between 25% and 30% of the world's palladium, a metal used by manufacturers to decrease pollution from engine exhausts.


Silver XAG= increased 0.6 percent to $24.58 per ounce, while platinum XPT= increased 0.9 percent to $961.53.

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