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On June 26th, according to Qichacha APP, Hangzhou Feikuo Technology Co., Ltd. recently underwent industrial and commercial registration changes, adding Zhiyuan Innovation (Shanghai) Technology Co., Ltd., an affiliate of Zhiyuan Robotics, as a shareholder, and increasing its registered capital to 1.07 million yuan. Qichacha information shows that the company was established in 2024, and its business scope includes: R&D of intelligent robots; manufacturing of industrial robots; manufacturing of intelligent unmanned aerial vehicles; and sales of artificial intelligence hardware. Public information shows that Feikuo Technology, as a secondary development company, accurately targets the scenario-based application of robot-embodied intelligence.On June 26, Xi Jinping, General Secretary of the CPC Central Committee and President of China, met with Hun Sen, Chairman of the Cambodian Peoples Party and President of the Senate, at the Great Hall of the People. Xi Jinping emphasized that the current international and regional situation is undergoing complex and profound changes, and China and Cambodia should work together to demonstrate their responsibility amidst change and uphold justice amidst chaos, injecting more stability into regional peace and development. China is willing to establish a security partnership with Cambodia. China highly appreciates Cambodias determination and actions in combating telecommunications and online fraud and is willing to work with Cambodia to continue its efforts to completely eradicate this "cancer" of telecommunications fraud.On June 26th, XPeng Robotics Center announced the establishment of nine new secondary departments. He Xiaopeng, who previously announced his personal appointment as head of the Robotics Center, also currently serves as the head of the Product Department, directly reporting to the heads of various organizations within the Product Department. Additionally, He Xiaopeng reports directly to Gu Jie, Liu Xianming, and Yu Tao, who respectively head the Embodied Systems Engineering Department, the General Base Department (virtual), and the Brand Marketing Department (acting). Previously, He Xiaopeng stated in an internal letter that he dedicates a full day each week to "in-depth thinking and discussion about the robotics business and the robotics team." Currently, XPeng Robotics Center comprises nine secondary departments: Product Department, Embodied Systems Engineering Department, Control and Safety Development Department, Embodied Intelligence Department, Data Closed-Loop Department, General Base Department (virtual), Product Matrix Department (virtual), Brand Marketing Department, and Project Management Department.June 26 - According to information released by Moscow Mayor Sergei Sobyanin via social media on June 26 local time, between 2:24 AM and 7:23 AM that day, Russian air defense systems shot down 47 drones heading towards Moscow. The Russian Ministry of Defense also reported early on the 26th that overnight, Russian air defense forces intercepted and destroyed 660 Ukrainian fixed-wing drones in multiple locations.Asian tech stocks generally fell on Friday after Apple raised prices. Investors are concerned that rising component costs will dampen demand for end devices and ultimately drag down memory chip prices, which have been supporting the AI investment boom. The market is reassessing whether soaring memory prices, driven by continued strong AI demand, will begin to suppress overall spending by increasing costs for electronics manufacturers and consumers. Apples price increase is one of the clearest signals yet that the industrys pricing power may be at the expense of future demand, prompting the market to reassess the valuation of AI-related semiconductor stocks. "The market is no longer viewing rising memory prices as a necessary positive factor for the entire AI deal," said Charu Chanana, chief investment strategist at Saxo Bank. "While this demonstrates that demand for AI infrastructure remains strong, it also drives up the cost of building and using AI. The risk is that the current strong memory chip cycle may slow down the entire AI deal in the future, and the market has already begun to price this in."

WTI fluctuates below $80 as investors redirect their attention to Fed comments

Alina Haynes

Nov 30, 2022 15:23

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West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) are fluctuating below the key resistance of $80.00 during the early European session. As investors anticipate a fresh impetus from Federal Reserve (Fed) chairman Jerome Powell's upcoming address, oil prices have been neglected by market players.

 

The black gold has drifted sideways following Monday's phenomenally strong buying action near $74.00. Prior to Fed Powell's speech, the recent increase and bullish expectations for oil prices are contingent on considerable pressure on the US Dollar. After a dip in inflation in October, investors are eager to know if the Federal Reserve is seriously considering a slower rate of interest rate increases.

 

The United States American Petroleum Institute (API) reported a large decline in oil inventories for the week ending November 25. This has also contributed to a rise in oil prices. The oil supply has decreased by 7.85 million barrels. This is the third straight decline in oil inventory published by the API, which has given the oil bulls a shot of adrenaline. However, investors will await the Energy Information Administration's (EIA) official oil inventory report for relevant indicators.

 

The case for supply concerns has been supported by news reports from Russia that the country will not provide oil under a price cap anyway, as stated by the country's Deputy Prime Minister, Alexander Novak.

 

In addition, predictions that OPEC+ will expand supply cutbacks at its December meeting are keeping oil bulls in check. The oil cartel declared that the promise to reduce production by two million barrels per day will be extended to the end of CY2023. In light of the current decline in oil prices, the oil mafia may increase production cuts.