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August 19th - Tesla has released a large-scale model of a steamed bun. It is reported that the Tesla infotainment system is now gradually rolling out this feature.Argus Research: Raises its target price for ConocoPhillips (COP.N) from $136 to $153.On August 19, the Ministry of Justice responded to a reporters question regarding the EUs foreign subsidy investigation, stating that the EUs recent investigation into JD.com, using its Foreign Subsidies Regulation, arbitrarily demanded extensive and unnecessary information about China from the Chinese entity. This constitutes an undue demand on the entity and a serious violation of international rule of law. To safeguard national sovereignty, security, and development interests, and to protect the legitimate rights and interests of Chinese citizens, legal persons, and other organizations, the Ministry of Justice, in accordance with the Regulations of the Peoples Republic of China on Anti-Unfair Extraterritorial Jurisdiction, together with the Ministry of Commerce and other relevant departments, has identified and determined that the EUs actions constitute unfair extraterritorial jurisdiction measures, and demands that no organization or individual implement or assist in the implementation of such measures. The Ministry of Justice hopes the EU will immediately correct its erroneous practices, cease abusing the "foreign subsidy" investigation tool, and create a fair, just, and predictable market environment for companies investing and operating in the EU. If the EU persists in its unilateral actions, China will resolutely retaliate in accordance with the law.Market news: During a meeting with Iranian Parliament Speaker Qalibaf, the Speaker of the Iraqi Parliament called for special status for Iraqs oil exports via the Strait of Hormuz.On August 19, the Ministry of Justice issued an announcement regarding the EUs foreign subsidy investigation practices constituting undue extraterritorial jurisdiction. According to Articles 3 and 6 of the "Regulations of the Peoples Republic of China on Combating Undue Extraterritorial Jurisdiction," the Ministry of Justice, in conjunction with the Ministry of Commerce and other relevant departments, determined that the EUs cross-border investigation practices against Chinese entities in its investigation of JD.com, utilizing its Foreign Subsidies Regulation, constituted undue extraterritorial jurisdiction measures. No organization or individual may implement or assist in the implementation of such undue extraterritorial jurisdiction measures. This announcement is effective from the date of its publication.

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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