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February 7th - Canada and France opened consulates in Nuuk, the capital of Greenland, a Danish autonomous territory, on February 6th, marking a substantial step forward in strengthening relations with Greenland and enhancing their participation in Arctic affairs. Canadian Governor General Mary Simon, Foreign Minister Anand, and Greenlandic Foreign Minister Vivian Mozfeldt jointly attended the opening ceremony of the Canadian consulate in Nuuk on February 6th. Danish Foreign Minister Rasmussen had also planned to attend but was unable to arrive due to a plane malfunction. According to the schedule, Rasmussen, Anand, and Mozfeldt will also hold a joint press conference. The French Ministry of Foreign Affairs announced on February 6th that Jean-Noël Poirier assumed the post of French Consul General in Nuuk, making France the first EU country to establish a consulate in Greenland. According to the French Ministry of Foreign Affairs, in addition to providing routine consular services to French citizens, the consulate will promote scientific cooperation with Greenland and provide guidance to French companies intending to invest and establish offices there.February 7th - According to sources familiar with the matter, Apple (AAPL.O) is preparing to allow other companies voice-controlled AI applications to integrate with its CarPlay system. This move will allow users to interact with AI chatbots through their in-car interface for the first time. The sources indicated that the company will work to support applications within the CarPlay system over the next few months. This change marks a strategic shift for Apple. Previously, Apple only allowed its own Siri assistant as a voice control option in its popular in-car infotainment system software. With this move, AI vendors such as OpenAI, Anthropic PBC, and Google will be able to release CarPlay versions of their applications that support voice control. However, some limitations remain. Sources say that Apple will not allow users to change the Siri button on CarPlay or the wake word to activate the service. Users will need to open the relevant application to activate third-party voice control functions.U.S. Department of Defense: The U.S. State Department has approved the sale of $185 million worth of Class IX spare parts and related equipment to Ukraine.According to Fortune, OpenAI’s ChatGPT app’s market share plummeted from 69.1% in January 2025 to 45.3% the following year, while Google’s Gemini chatbot app’s market share climbed from 14.7% to 25.2%.U.S. consumer credit in December was $24.05 billion, below the expected $8 billion and the previous months figure was revised from $4.229 billion to $4.7 billion.

S&P 500 Pulls Back From Session Highs As Apple Tests Weekly Lows

Cory Russell

Nov 07, 2022 15:23


Apple drives the S&P 500 to weekly lows

As the unemployment rate jumped from 3.5% in September to 3.7% in October, the S&P 500 gained support at the start of today's trading session. Traders were eager to wager that the Fed would become less hawkish as the unemployment rate rose. S&P 500, however, immediately lost impetus and went in the direction of the 3725 level support.


While the sell-off was still going on, Apple dropped below the $135 mark. The S&P 500 recently came under significant pressure due to the sharp decline in Apple stock. Tesla meanwhile drew nearer to its yearly lows.


PayPal experienced a 5% decline following the release of subpar fourth quarter guidance. The company anticipates that lower consumer spending will have an impact on its earnings, which is negative for the stock.


Ahead of the weekend, basic commodities equities have significant support, while tech companies are generally trending lower. Commodity markets are rising today on expectations that China may ease its zero-COVID policy. Freeport-McMoRan, the largest copper producer, increased 10% as copper prices rose above $3.60. As gold prices rose above the $1670 mark, gold producer Newmont Corporation saw a 7% increase.


The S&P 500 was under a lot of pressure this week despite gains in energy and basic commodities companies due to the sharp sell-off in tech shares. If the top technology stocks continue to decline, the market as a whole will not be able to recover.

Strong Resistance Awaited S&P 500 Near The 50 EMA

The S&P 500 keeps trying to close below the 3725 support level. The S&P 500 will go toward support at 3690 if it is able to settle below this point. The S&P 500 will be pushed toward the support at 3650 if the support at 3690 is successfully tested. If the S&P 500 falls below this mark, it will move in the direction of the next support at 3625.


To the upside, the S&P 500 must continue to trade above the level of 3725 in order to have a chance of gaining upward momentum soon. The S&P 500's subsequent resistance level is at 3760. The next resistance at 3805 can be tested if the test of the resistance at 3760 is successful. Since the 50 EMA is close by, the S&P 500 will probably encounter significant resistance between 3805 and 3815.

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