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On January 13, it was reported that the UK is exploring the use of nuclear energy for the construction of artificial intelligence data centers. The first area will be located in Culham, the home of the UK Atomic Energy Agency. The British government will set up an energy committee composed of government and private officials, which will explore the use of small modular reactors that rely on nuclear fission technology to power data centers. Vantage Data Center said that as part of the plan, it will invest more than 12 billion pounds (14.6 billion US dollars) in data centers across the UK. Another data center company, Nscale, said it will invest $2.5 billion in the next three years. The Labour Party, led by Starmer, has put artificial intelligence at the heart of its economic agenda, but has been slow to roll out related policies and has been criticized for confusing early information.U.S. stock index futures opened slightly lower on Monday, with S&P 500 futures and Nasdaq futures both falling 0.1%.On January 13, ABP, Europes largest pension fund, sold all of its 571 million euros ($585 million) in Tesla in the third quarter, partly because it disagreed with Musks compensation plan. An ABP spokesman said on Sunday that Musks compensation plan was "problematic." The fund also considered costs, returns and responsible investment requirements when deciding to sell its shares. The Dutch Daily Financial News first reported the news, which also listed poor working conditions as one of the reasons why ABP abandoned Tesla. Last month, Musks record Tesla compensation plan was again rejected by a Delaware judge. The stock option plan was originally worth $2.6 billion and soared to $56 billion when the judge rejected the plan. In June of this year, ABP voted against the compensation plan, calling it "controversial and abnormally high."According to Nikkei: Japan will launch its first infrared sensor in fiscal 2025 to supply the International Space Station.According to Nikkei: Japan will test hypersonic missile tracking technology through space sensors.

S&P 500, Nasdaq 100 Weekly Forecasts – Bond Yields Hammer Equity Sentiment

Skylar Shaw

Apr 25, 2022 10:31

It's going to be a busy week for US firms reporting first-quarter profits, with familiar names like General Electric (GE), Microsoft (MSFT), Ford (F), Twitter (TWTR), Amazon (AMZN), and Apple (APPL) all due to release their latest quarterly financial reports. Netflix (NFLX) and Tesla (TSLA) had drastically contrasting results this week, with Netflix (NFLX) falling over 35% on very low membership numbers and Tesla (TSLA) rising approximately 8% on strong sales and profitability. 


The fact that famed hedge fund billionaire Bill Ackman sold his newly acquired Netflix position for a $400 million loss after the results does not bode well for other stay-at-home tech businesses. The earnings schedule for the next week might be full of surprises.

 

While the small print of firms' balance sheets will be scrutinized next week, the 800-pound monster in the room — US interest rates and government bond yields – will need even greater scrutiny. 


Market expectations for US rate rises have risen to the point that the market is now pricing in the Federal Reserve aggressively front-loading rate hikes, with four 50 basis point raises expected at the next four FOMC meetings. 


The last time the Fed raised interest rates by 50 basis points was in May of 2000. While increased interest rates may help banks make more money, the IT industry, particularly the big names like Apple and Amazon, becomes less tempting as interest rates rise.


After Thursday's bearish engulfing candle erased the preceding three days' gains, the S&P 500 is expected to close the week flat. The 200-day simple moving average behaved as resistance, and the indices are currently trading below all three moving averages (20, 50, and 200), which is still another bad indicator. If support at 4,361 is firmly broken, 4,270 seems to be the next target.

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