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On August 13th, Citigroup released a research report stating that Lenovo Groups (00992.HK) performance growth was primarily supported by the explosive growth of its Infrastructure Solutions Group (ISG) and the continued leadership of its Intelligent Devices Group (IDG). Gross margin expanded year-on-year to 16.5%, exceeding Citigroup and market expectations, reflecting improved revenue mix and ISG gross margin expansion. Non-GAAP net profit surged 176% year-on-year to US$1.075 billion, exceeding Citigroup and market expectations by 64% and 149% respectively, with non-GAAP net profit margin expanding to 4%. Citigroup stated that based on a sum-of-the-parts valuation method, it set a target price of HK$31 for Lenovo Group, corresponding to a projected P/E ratio of approximately 13.6 times for fiscal year 2028. The IDG and SSG businesses are valued at a P/E ratio of 10 times, and the ISG business at a P/E ratio of 16.7 times, consistent with industry standards. The bank maintained its "Buy" rating on Lenovo Group, citing strong server demand prospects and profitability, as well as the stable performance of its PC, mobile phone, and service businesses.Russian online retailer Wildberries: A fire broke out in an industrial zone of a company in Bashkortostan.August 13th - According to the latest research from Omdia, smartphone shipments in the Middle East (excluding Turkey) are projected to decline by 19% year-on-year in the second quarter of 2026, falling to 10.6 million units, marking the largest quarterly drop since the fourth quarter of 2025. Rising prices, supply constraints, and geopolitical uncertainty are prompting manufacturers to focus more on enhancing product value and profitability rather than simply pursuing shipment growth. Meanwhile, with weakening consumer confidence, Middle Eastern retailers are adopting more cautious inventory management strategies.On August 13th, Lenovo Group (00992.HK) shares surged after announcing a 43% year-on-year increase in quarterly revenue, significantly exceeding analysts expectations and further boosting market optimism regarding AI-driven demand. Lenovos shares rose over 20% in Hong Kong, hitting a new all-time high, and have accumulated a gain of over 290% year-to-date, firmly maintaining its position as the best-performing constituent stock in the Hang Seng China Enterprises Index. A report by Citigroup analysts Kyna Wong et al. stated that this comprehensive and significantly better-than-expected performance further reinforces the structural growth logic driven by artificial intelligence.The UKs seasonally adjusted goods trade balance for June was -£23.007 billion, compared to a forecast of -£20.5 billion and a revised previous figure of -£21.083 billion (originally -£18.66 billion).

S&P 500 Price Forecast – Stock Markets Nervous Ahead of CPI

Skylar Shaw

Nov 10, 2022 17:56

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Technical Analysis of the S&P 500

As we wait for the CPI numbers, the S&P 500 E-mini contract has decreased somewhat during Wednesday's trading session. Considering that CPI statistics will almost probably favor the Fed tightening, it makes natural at this stage that we would experience some negative. Having said that, there is virtually always a story being told on Wall Street to raise stocks, if only momentarily. Keep in mind that Wall Street is there to sell you stocks. Follow the money, in other words.


The market is currently negative and has been for some time. There is also no genuine reason to believe that the economy is improving, which would cause the stock market to soar. As a result, I believe it will most likely only be a matter of time before this market breaks back down to the 3750 level, then the 3700 level. There is an important support level at 3600, and breaking that level would definitely cause the market to tremble since it would be a crash through support.


On the plus side, the perma-bulls may rush in and drive this market above the 3900 barrier if the CPI statistic comes in lower than expected. We will probably certainly test the 4000 level at that point. I believe there is a lot going on in the 4000 level area that would make it challenging to break above, including the 200-Day EMA racing toward it. If all else is equal, I like to sell rallies in this market, thus the CPI number might present me with that opportunity.

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