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June 15th - Zhipu (02513.HK) announced the launch of its latest flagship model, GLM-5.2. This model offers a long context of up to 1MB and continues to lead in long-duration tasks. It will be open-sourced under the MIT license. This model is expected to boost the call volume of the companys open platform and API services. As of the date of this announcement, the company is not aware of any information that needs to be disclosed to avoid a false market in the companys securities, or any inside information that needs to be disclosed under the Listing Rules. Shareholders and potential investors are advised to exercise caution when dealing in the companys securities.Japans tertiary sector activity index rose 1.3% month-on-month in April, compared with a previous reading of -0.20%.June 15th - According to the National Railway Administration, from January to May 2026, the national railway passenger and freight volumes remained high, railway construction progressed steadily, effectively playing a radiating and driving role and injecting new momentum into regional economic and social development. In terms of passenger transport, from January to May, the national railway system completed a total of 1.969 billion passenger trips, a year-on-year increase of 5.7%; and completed 697.739 billion passenger-kilometers, a year-on-year increase of 4.2%. In May, the railway system completed 414 million passenger trips, a year-on-year increase of 1.9%; and completed 140.387 billion passenger-kilometers, a year-on-year increase of 2.2%. Regarding fixed asset investment, from January to May, the national railway system completed 248.5 billion yuan in fixed asset investment, a year-on-year increase of 2.6%, and railway construction progressed steadily.June 15th - The Bank of England will hold its interest rate decision on Thursday. The meeting is expected to see a majority vote to keep rates unchanged, but it is anticipated to reflect the Monetary Policy Committees growing concerns about the inflation risks posed by the prolonged energy crisis. Following calls from senior officials, including Governor Bailey and Deputy Governor Briden, for caution before addressing rising inflation risks, the market widely expects the bank to keep the key interest rate unchanged at 3.75%. "The momentum in the labor market has cooled significantly," said Hetal Mehta, an economist at St Jamess Place. "I dont think theres enough impetus for a rate hike at the moment." However, at least two rate setters—Chief Economist Peale and Monetary Policy Committee member Green—have hinted at calling for an immediate rate hike. Another Monetary Policy Committee member, Mann, stated that if the energy crisis worsens, a rate increase at some point cannot be ruled out.June 15th - HSBC and Hang Seng Banks applications experienced technical glitches this morning, according to reports. HSBCs platform indicated that services were temporarily affected due to a technical glitch. Hang Sengs platform indicated that its application or online banking services might experience slow response times or intermittent interruptions. An HSBC spokesperson stated that some customers were unable to use certain banking services normally this morning, and the company was working diligently to restore normal operations as soon as possible. Hang Seng stated that some banking services were temporarily affected due to technical reasons, and relevant departments were working to resolve the issue.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Rebound After Yesterday’s Pullback

Cory Russell

Feb 01, 2023 15:25

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S&P 500

S&P 500 gained ground as traders bought stocks after yesterday’s pullback and continued to prepare for the Fed decision, which will be released tomorrow.


It looks that economic data did not have a significant impact on today’s market dynamics. Case-Shiller Index confirmed the slowdown of the housing market, which was not surprising as interest rates remained at high levels. CB Consumer Confidence report missed analyst expectations.


General Motors was among the biggest gainers in the S&P 500 today. The stock was up by 8% as traders reacted to the better-than-expected earnings report.


Ford stock gained 4% as traders bet that the company’s results would also exceed forecasts. Ford will release its earnings report on February 2, after the market close.


Today’s rebound was broad, and all market segments moved higher. Utilities stocks underperformed as demand for safe-haven assets declined.

NASDAQ

NASDAQ moved back above the 12,000 level as tech stocks rebounded after yesterday’s pullback.

Traders should note that tech stocks are especially sensitive to changes in Fed policy outlook, so NASDAQ will be volatile tomorrow, after the release of the Fed decision.


NASDAQ has been moving higher since the beginning of the year as traders bet on a less hawkish Fed. In case Fed’s commentary is too hawkish, NASDAQ will find itself under material pressure.

Dow Jones

Dow Jones also enjoyed strong support in today’s trading session. The sell-off in Caterpillar shares, which declined by 3.5% after the company’s earnings missed expectations, did not hurt the performance of the index.