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On January 13, Richard Yu, Huaweis executive director, chairman of the Device BG, and chairman of the Intelligent Automotive Solutions BU, released the first letter to all employees in the new year. Richard Yu said: "As the tide of the times sweeps across the world, Hongmeng will have one third of the world, which is the responsibility and mission given to our generation of terminal people by history." He also mentioned that the Hongmeng ecosystem will have to invest heavily in 2025, and 100,000 applications is a sign of the maturity of the ecosystem, which is a key goal for the next six months to a year.Former Fed Vice Chairman Randall Quarles: The markets expectations for rate cuts this year are correct. I dont think tariffs themselves will cause inflation.On January 13, the issuance of special debt instruments for sustainable development in Japan in 2024 set a new annual record. Transition bonds have soared in popularity, and the issuance of most other types of bonds has declined compared with 2023. Transition bonds are designed to finance low-carbon projects of large emitters that may not meet the "green" label. In 2024, the issuance scale of Japans sustainable development debt was US$75.4 billion, a year-on-year increase of 9.6%, continuing the previous trend of sustained growth. Transition bonds contributed the most, with an issuance scale of US$21.9 billion, a year-on-year increase of 22 times, mainly from five sovereign transition bonds issued by Japan, with a total scale of US$19.7 billion.According to Fox News: Tesla CEO Elon Musk said he plans to use Cybertruck equipped with Starlink technology to provide Internet services to victims of the California wildfires.On January 13, CICC released a research report, maintaining the "outperform" rating of Sunny Optical Technology (02382.HK), with a net profit attributable to the parent company forecast of 2.603 billion yuan/3.308 billion yuan in 2024/2025, and an introduction of 2026 revenue/net profit attributable to the parent company of 47.4 billion yuan/4 billion yuan, with a target price of HK$70.4. The company announced its December shipment data: 1) Mobile phone optics: The company shipped 53.394 million mobile phone camera modules and 105 million mobile phone lenses. 2) Car-related products: The company shipped 6.351 million car lenses.

US open: Stocks Head Lower, Twitter, Big Tech in Focus

Cory Russell

Apr 27, 2022 10:53

The Headlines on Twitter

Following a strong finish in the previous session and ahead of the commencement of large tech results, US markets are expected to start lower. Inflation has been a major subject this earnings season, and investors will be watching for clues about the impact of inflation on consumer spending when the numbers come in.


The statistics from the United States showed that durable goods rose 0.8 percent in March, up from 1.7 percent in February, but still falling short of the 1 percent expectation.

 

Looking forward Consumer confidence in the United States is predicted to improve to 108.00 from a 10-month low later this afternoon. This would be the first time in four months that it has improved, despite rising prices. Interestingly, despite a drop in consumer confidence, Americans have continued to spend, with retail sales remaining largely stable.

In TheBusiness World:

Twitter is up 0.2 percent in premarket trading as investors digest the news that Elon Musk has purchased the social media company after the board approved a $44 billion deal to take it private.


Elon Musk has already stated that he may not seek to monetize Twitter; instead, his goal is to make it a more transparent and fair platform for free speech.

 

In the next months, profits will pick up a notch, with large tech earnings taking center stage. Earnings growth is likely to slow in general. However, Microsoft is expected to disclose record earnings after the market closes today. Despite this, the stock has underperformed.

 

After the closing, Alphabet is also expected to report. On revenue of $68.13 billion, EPS of $25.63 is expected.

Where Does the S&P500 Go From Here?

The S&P500 hit resistance at the 100 sma at 4510, then dropped below the 50 sma, finding support at 4200. While trading out of oversold territory, the RSI is below 50, suggesting potential decline. 


A break below 4210/4200 could open the door to 4140 if the index breaks below it. Meanwhile, the extended lower wick on the candle to 4200 could stimulate buyers, implying that the price did not find much acceptance at these lower levels, therefore propelling the price higher. Buyers are attempting to break through resistance at 4280, with a move above exposing the 50 sma at 4400.

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