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Barclays lowered its price target for Murphy Oil (MUR.N) from $43 to $38.Barclays raised its price target for Airbnb (ABNB.O) from $125 to $150.On August 10th, the Shanghai Stock Exchange Listing Review Committee announced that it will hold its 47th meeting of 2026 on August 17th to review the IPO application of Guangdong Kerui Strontium CNC Technology Co., Ltd.On August 10th, seven departments, including the Shanghai Municipal Commission of Commerce, issued the "Construction Plan for the Shanghai National Service Trade Innovation and Development Demonstration Zone." The plan aims to attract enterprises and institutions to establish artificial intelligence R&D centers, open-source platforms, and collaborative laboratories. It promotes the expansion of overseas access to computing power and basic large-scale models, and supports the export of model products such as intelligent agents and multimodal generation. It also encourages intelligent terminal enterprises, such as embodied intelligence, to expand new full-cycle service models. Furthermore, it supports the application of artificial intelligence in industries such as healthcare, education, and professional services. The plan also calls for successfully hosting the World Artificial Intelligence Conference and global developer events, and accelerating the construction of the headquarters of the World Artificial Intelligence Cooperation Organization. Support will be provided for Pudong New Area to build a pilot zone for innovative applications of artificial intelligence, and for Xuhui District to build the "Model Speed Space" large-scale model innovation ecosystem community. Finally, the plan explores the establishment of a global governance system for artificial intelligence.On August 10th, seven departments, including the Shanghai Municipal Commission of Commerce, issued the "Construction Plan for the Shanghai National Service Trade Innovation and Development Demonstration Zone." The plan emphasizes improving service trade supporting the integrated circuit industry. It promotes the integration of integrated circuit design and manufacturing, and establishes an international joint design center in the Lingang New Area. The plan supports integrated circuit companies in achieving breakthroughs across the entire industry chain and cultivating a number of internationally competitive leading enterprises. It stipulates that imported testing consumables used within comprehensive bonded zones will be reimbursed based on actual testing consumption, and that pilot projects for integrated circuit testing outside comprehensive bonded zones will be subject to bonded supervision. The plan also supports integrated circuit companies in conducting international trade distribution business.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.