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Samsung Electronics shares fell 2% and SK Hynix shares fell 3%.Japans Topix index extended its losses to 1%.On September 17th, Huaweis official Weibo account announced the release of its Top 10 Technology Trends for an Intelligent World by 2035 on September 16th, noting that by 2035, total computing power will increase 100,000-fold, ultimately spurring the rise of new computing. Huawei believes that AGI will be the most transformative driving force over the next decade. With the development of large models, AI agents will evolve from execution tools to decision-making partners, driving industrial revolutions. Communication networks will connect more than 9 billion people to 900 billion agents, enabling the transition from the mobile internet to the internet of agents. Currently, human-computer interaction is shifting from graphical interfaces to natural language and evolving towards multimodal interaction that integrates all five senses.Futures data from September 17th: Spot gold prices surged above the 3,700 mark overnight, with COMEX gold futures rising 0.23% to $3,727.50 per ounce, and SHFE gold futures closing up 0.19%. Expectations of a Federal Reserve rate cut, a weakening dollar, and geopolitical uncertainty are all contributing to golds performance. Focus is on the Federal Reserves September meeting and the subsequent Quarterly Economic Projections (SEP). The US dollar continued to weaken on Tuesday, with the US dollar index falling 0.74% to a low of 96.54, hitting a near two-month low. Furthermore, the dollar fell 0.9% against the euro, reaching its lowest level since September 2021. Regarding economic data, US retail sales for August, released on Tuesday, rose 0.6% month-over-month, exceeding expectations of a 0.2% increase. The previous reading was revised from 0.5% to 0.6%, demonstrating resilience in consumer spending. The Federal Reserve held its meeting early Thursday morning, and a rate cut is all but certain. With the US Presidents newly nominated Fed Governor, Milan, participating in the FOMC meeting, the published dot plot is expected to show a more dovish tone, with the number of rate cuts for 2025 expected to fluctuate between two and three. Furthermore, continued pressure from the White House on Powell and other governors is crucial. Concerns about the Feds independence may continue to exacerbate market volatility.According to the Wall Street Journal: Eli Lilly (LLY.N) will invest $5 billion to build a factory in Virginia, USA.

Musk's Twitter Antics Raise Worries About Distraction and Tesla Stock Sales

Charlie Brooks

Apr 15, 2022 10:02

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Tesla watchers are concerned about Musk attempting to clinch the transaction, maybe by selling even more of his Tesla stock, and then controlling yet another firm.


"Elon is preoccupied. He has a lot going on. He is active in a variety of projects, "Gene Munster, managing partner of Loup Ventures, a venture capital company that holds Tesla stock, said. "This will have a one to three month negative impact on Tesla's stock."


Tesla, the world's most valuable carmaker, has lost more than 9% of its value since Musk announced his more than 9% holding in Twitter on Monday. Tesla's shares dipped 3.7 percent on Thursday.


While Musk has discussed possible improvements he would want to see on Twitter, Tesla confronts its own obstacles, experts noted, including the need to ramp up production at new assembly factories in Berlin and Texas. Meanwhile, Tesla's Shanghai facility - the company's biggest - has been shut down because of China's COVID-19 crackdown.


"Musk is Tesla, and investors do not want Tesla to lose its leading position," Roth Capital Partners analyst Craig Irwin said.


And investors' suspicions are based on Musk's own remarks previous to this venture. He previously said that he worked seven days a week – "crazy hours" – dividing his time between Tesla and SpaceX last year. He is also the founder of Neuralink, a brain-chip firm, and the Boring Company, a tunneling enterprise.


Another source of concern is Musk's ability to fund a hypothetical Twitter acquisition, which would entail stock sales and hefty borrowing, experts said.


According to Wells Fargo (NYSE:WFC) analyst Colin Langan, Musk would need $39 billion to complete the acquisition, and the selling of further Tesla shares might further impact the price.


Tesla executives may pledge their business stock as collateral for loans, but the maximum loan amount is limited to 25% of the entire value of the pledged shares.


This implies he could borrow $42.5 billion by pledging all of his $170 billion-worth shares. However, according to a Tesla filing last year, Musk has previously committed nearly half of his Tesla shares as security to satisfy some personal liabilities.


Musk said on Thursday that he had the assets necessary to acquire Twitter, but did not elaborate.


The world's wealthiest person's fortune consists mostly of Tesla and SpaceX shares. Late last year, he sold almost $16 billion worth of Tesla stock, $11 billion of which he said will be paid in taxes.


"He is possibly exposing himself to a massive lawsuit down the line," said Howard Fischer, a partner at the law firm Moses & Singer and a former senior trial counsel at the Securities and Exchange Commission in the United States.


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