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August 13th - According to sources, the Truth API data service launched by Trumps media company is facing resistance from some trading firms. While some firms have already signed up to use the service, some, including Hudson Rivers and Citadel Securities, have stated they are unwilling to pay for it, arguing it is not a necessary condition for trading operations. The sources requested anonymity due to the non-public nature of the information. Analysts point out that existing insider trading regulations do not explicitly cover the president using his media platforms to release information that could affect the market, or selling access to such information to the market more quickly. Karen Woody, a professor at Washington and Lee University School of Law, stated that past regulatory systems did not presuppose that a sitting president might engage in such practices. Securities and Exchange Commission (SEC) Chairman Paul Atkins previously stated in an interview that the SEC is monitoring the Truth API data flow.On August 13th, AI chipmaker Cerebras reported second-quarter revenue of $210 million, a 103% year-over-year increase. Cloud revenue reached $126 million, nearly quadrupling year-over-year, but hardware sales declined 23% to $54.1 million. The company recorded a net loss of $450.5 million for the quarter, compared to a net profit of $309.5 million in the same period last year. The company raised its full-year guidance, now expecting core revenue to be between $880 million and $890 million, up from the previous range of $855 million to $865 million. This report has created a mixed bag for investors, as Cerebras stock price has risen 42% since its May IPO. Initially positioned as a challenger to Nvidia in the AI chip field, the companys largest revenue source is now cloud computing. Cerebras stated that its core gross margin will expand to 38% to 40% this quarter in response to investor concerns. Following the earnings release, Cerebras stock price fell more than 17% in after-hours trading.Market news: S&P Global expands its partnership with Microsoft (MSFT.O) to bring a wealth of key intelligence data to Microsoft 365 Copilot.According to Axios: The Trump administration criticized Israeli Defense Minister Katzs remarks about continuing the occupation of southern Lebanon, saying that such statements violated commitments made by the Israeli government in agreements signed with the United States and Lebanon.The Dow Jones Industrial Average closed down 21.69 points, or 0.04%, at 53,770.16 on Wednesday, August 12; the S&P 500 rose 20.31 points, or 0.26%, to 7,748.51 on Wednesday, August 12; and the Nasdaq Composite rose 143.04 points, or 0.54%, to 26,588.49 on Wednesday, August 12.

S&P 500 Price Forecast – Stock Markets Await Slew of News

Alice Wang

Dec 01, 2022 15:43

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Technical Analysis of the S&P 500

As the world waits for Jerome Powell's speech, the Core PCE statistics, and of course Friday's jobs report, the S&P 500 has been rather calm during the day on Wednesday. It's not a big surprise to see that individuals were taking a little break because all of this might lead to a lot of volatility. At this point, I believe it might make some sense for us to wander around aimlessly while seeking for a path.


Given enough time, I do believe that the market will have to move, and I have a sneaking suspicion that Jerome Powell may disappoint some.


However, if we were to break through the 4050 level, I believe we could move up to the 4100 level and perhaps the 4200 level in the storied "Santa Claus rally" that people look forward to each year.


However, if we fall below this level of 3900, we can experience a fast decline toward 3800. Remember that there are a lot of moving parts in the world right now, and that many people are naturally worried about the global growth outlook, which is, to put it mildly, not very healthy. Everyone is aware that a recession is imminent, but some financial channels are currently making the absurd claim that the recession "has already been priced in." Although that is gibberish, it is what you are hearing on the radio.

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