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On January 12th, Tmall released its "2025 New Brand Development Report." Regionally, Guangzhou, Shenzhen, Jinhua, Hangzhou, Quanzhou, Xiamen, Wuhan, Xuzhou, Dongguan, and Zhengzhou saw the most new merchants, becoming Tmalls top 10 cities for brand creation in 2025. Guangzhou continues to lead in entrepreneurial vitality, ranking first for three consecutive years, with over 18,000 new stores opening in Guangzhou in 2025, double the number in 2023.On January 12th, Minister Li Lecheng of the Ministry of Industry and Information Technology stated that the "15th Five-Year Plan" proposes to "promote the digital and intelligent transformation of the manufacturing industry." On the one hand, this involves focusing on industrial data as the key driver. We will launch an industrial data infrastructure development initiative to build a number of high-quality industry datasets and strengthen data consulting and data labeling businesses. On the other hand, we will implement the "Artificial Intelligence + Manufacturing" special action plan, comprehensively deploying general-purpose and industry-specific large-scale models, cultivating a number of key industry intelligent agents and intelligent native enterprises; accelerating the intelligent upgrading of the manufacturing industry; and widely exploring artificial intelligence application scenarios. These numerous "small scenarios" will converge to form a unified "large-scale" landscape, injecting strong momentum into the high-quality development of the manufacturing industry.The Hang Seng Tech Index surged more than 2% in the short term, with AI application stocks rising across the board. The Hang Seng Index is currently up 0.76%.On January 12th, Minister Li Lecheng of the Ministry of Industry and Information Technology stated that the next step will focus on accelerating high-level technological self-reliance and strengthening, deeply promoting the integration of technological innovation and industrial innovation, comprehensively enhancing the technological innovation capabilities of industries, and continuously fostering new types of productivity. First, we will plan major national science and technology projects, and coordinate the advancement of the industrial base reconstruction project and the major technological equipment tackling project. We will build platforms such as the National Manufacturing Innovation Center, and make good use of market-oriented means such as "open competition" and "horse race" to guide enterprises to collaborate with universities and research institutions in tackling key challenges. Second, we will thoroughly implement policies such as the additional deduction of R&D expenses, and implement a new round of central government financial support policies for the high-quality development of specialized, refined, and innovative SMEs. We will continuously increase the proportion of enterprise experts participating in and the proportion of enterprises leading projects in major national science and technology projects under the responsibility of the Ministry of Industry and Information Technology.U.S. State Department spokesperson: U.S. Secretary of State Marco Rubio spoke with Mexican Foreign Minister Juan Ramon de la Fuente on the 11th.

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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