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June 9th - According to the Financial Times, Apollo Global Management and Blackstone Group have finalized a $35 billion private credit deal to fund Anthropics growth plans. This deal, spearheaded by these two private equity giants, is one of the largest private credit financings to date, as Wall Street banks and investment firms continue to pour money into the artificial intelligence boom. The funds will help Anthropic purchase chips developed by Alphabet. This deal highlights investors enormous enthusiasm for AI and their willingness to invest heavily in supporting the data center infrastructure and computing power needed by companies like Anthropic, OpenAI, and Meta. Neither Apollo nor Blackstone has commented on the matter.On Tuesday, June 9, the Hang Seng Index opened down 105.13 points, or 0.43%, at 24,551.93; the Hang Seng Tech Index opened down 12.39 points, or 0.26%, at 4,743.52; the H-share Index opened down 27.8 points, or 0.33%, at 8,313.56; and the Red Chip Index opened down 21.48 points, or 0.5%, at 4,313.91.Hong Kong stocks opened lower, with the Hang Seng Index down 0.43% and the Hang Seng Tech Index down 0.26%. AI applications, innovative drugs, chips, leading tech companies, and new energy vehicle companies were among the top gainers. Contron (01912.HK) resumed trading with a surge of over 110%, after receiving a mandatory cash offer from Zhuangyan-Investment-International.Hang Seng Index futures opened down 0.23% at 24,507 points, a discount of 150 points.June 9th - Shanghais car trade-in subsidy program has been adjusted to an instant lottery system. On the night of June 8th, the Shanghai Municipal Commission of Commerce issued an announcement regarding the adjustment of the lottery method for the 2026 Shanghai car trade-in subsidy program. The announcement states that from June 9th to September 30th, 2026, eligible individual consumers can register for the instant lottery through the "Government Services - Car Trade-in Subsidy Application" portal on the "Shanghai Commerce" WeChat official account from 7:00 AM to 10:00 PM daily.

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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