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A Republican senator has proposed repealing Californias vehicle emissions regulations.U.S. EIA natural gas storage for the week ending July 31 was 33 billion cubic feet, compared with an expected 30 billion cubic feet and a previous reading of 28 billion cubic feet.The U.S. EIA natural gas storage data for the week ending July 31 will be released in ten minutes.On August 6th, Tesla (TSLA.O) announced that earlier this year, SpaceX and Tesla launched Project Terafab—the worlds largest chip manufacturing initiative, integrating logic chips, memory chips, and advanced packaging technologies within a single facility. In April, Tesla broke ground on its new R&D wafer fab at its Texas Gigafactory North Campus, the precursor to Terafab. Today, we are officially announcing that Terafab will be located in Grimes County, Texas. This facility will be an advanced semiconductor wafer fab designed to bridge the huge gap between current global chip supply capacity and future computing demands. SpaceX and Teslas combined chip demand is projected to exceed 1 terawatt (TW) of computing power, a scale far exceeding current global supply capacity. We are highly grateful to existing chip suppliers and encourage them to expand capacity where possible, but the widening gap between future supply and demand is the core reason for the existence of Project Terafab. Terafab aims to manufacture new computing power at an unprecedented scale and speed. The project plans to build a vertically integrated factory with a manufacturing area exceeding 100 million square feet. The facility will encompass the manufacturing, packaging, and testing of advanced logic and memory chips. Centralizing these processes in one location will facilitate rapid iterative improvements and accelerate the deployment of new computing capabilities.Tesla (TSLA.O): TeraFab aims to produce more than 1 terawatt of computing power per year.

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.

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