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Poor earnings reports from tech giants triggered a market panic sell-off, leading to a significant decline in US stocks. The S&P 500 and Nasdaq both recorded their biggest one-day declines in a year and a half, falling 2.3% and 3.6%, respectively. This decline caused the S&P 500 to fall below the 50-day EMA for the first time since May, ending the longest record of a single-day decline of more than 2% since 2007. The Dow also fell 500 points, and the small-cap stock index fell 2.1%. The sharp decline in Tesla, Google, and chip stocks further increased downward pressure on the market.
Furthermore, former Federal Reserve officials called for immediate interest rate cuts to cope with the economic slowdown. At the same time, the Bank of Canada announced a 25 basis point cut in interest rates and hinted that interest rates may be cut further in the future. This policy shift reflects increased pressure to ease monetary policies around the world.
Among other market trends, the US Markit manufacturing PMI hit a seven-month low, while the service sector PMI reached a 28-month high, indicating increased differentiation between manufacturing and service industries. Eurozone economic data also showed that manufacturing was weak. In particular, Germany's composite PMI unexpectedly contracted, increasing the risk of a recession.
In the Asian market, despite the general decline in global stock markets, the Shanghai Index returned above 2,900 points. Electricity stocks rose against the market, and Changjiang Electric Power's stock price reached a new high. This shows that against the backdrop of increased global market volatility, some Asian markets have shown some resilience.
$Tesla(TSLA.US$ $Alphabet-C(GOOG.US$ $iShares Semiconductor ETF(SOXX.US$ $Russell 2000 Index(.RUT.US$
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Furthermore, former Federal Reserve officials called for immediate interest rate cuts to cope with the economic slowdown. At the same time, the Bank of Canada announced a 25 basis point cut in interest rates and hinted that interest rates may be cut further in the future. This policy shift reflects increased pressure to ease monetary policies around the world.
Among other market trends, the US Markit manufacturing PMI hit a seven-month low, while the service sector PMI reached a 28-month high, indicating increased differentiation between manufacturing and service industries. Eurozone economic data also showed that manufacturing was weak. In particular, Germany's composite PMI unexpectedly contracted, increasing the risk of a recession.
In the Asian market, despite the general decline in global stock markets, the Shanghai Index returned above 2,900 points. Electricity stocks rose against the market, and Changjiang Electric Power's stock price reached a new high. This shows that against the backdrop of increased global market volatility, some Asian markets have shown some resilience.
$Tesla(TSLA.US$ $Alphabet-C(GOOG.US$ $iShares Semiconductor ETF(SOXX.US$ $Russell 2000 Index(.RUT.US$
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It is the “main artery” of 5G data centers, and Malaysia Telecom can win alone if it has optical fiber
(Kuala Lumpur, 24th) Optical fiber is the “aorta” of 5G and digital centers. Market participants believe that regardless of the risks involved, Malaysia Telecom (TM, 4863, Main Board Trade Services) can profit from it, so they give it a separate “buy” rating.
Research analysts at Hong Leong Investment Bank pointed out that in fact, the telecommunications sector index only rose 5% in the first half of this year, and its performance was far less than the 9% increase in the Malaysian Fushilong Composite Index. It was mainly dragged down by various downside factors, including insufficient dividend distribution and uncertainty about the 5G regulatory mechanism.
Despite this, analysts are still optimistic about the performance of the relevant sector in the second half of this year, mainly because no matter how the political trend evolves and whether a single wholesale network (SWN) or dual wholesale network model (DWN) is used, it will not be possible to prevent the launch of 5G.
In the first phase of SWN, Malaysia's 5G Special Use Company (SPV) - National Digital Corporation (DNB), as entity A, successfully achieved 80% 5G population coverage last year.
Also, as of June 1, apart from Malaysia Telecom, which is still awaiting shareholder notions, all four other telecom giants have completed share subscription agreements.
After signing, in addition to meeting the financial requirements of the DNB, telecommunications giants also formulated a series of policies and strategies to carry out the transition plan.
Analysts are optimistic that Entity B's 5G network will be better and more cost-effective, plus it can utilize existing...
(Kuala Lumpur, 24th) Optical fiber is the “aorta” of 5G and digital centers. Market participants believe that regardless of the risks involved, Malaysia Telecom (TM, 4863, Main Board Trade Services) can profit from it, so they give it a separate “buy” rating.
Research analysts at Hong Leong Investment Bank pointed out that in fact, the telecommunications sector index only rose 5% in the first half of this year, and its performance was far less than the 9% increase in the Malaysian Fushilong Composite Index. It was mainly dragged down by various downside factors, including insufficient dividend distribution and uncertainty about the 5G regulatory mechanism.
Despite this, analysts are still optimistic about the performance of the relevant sector in the second half of this year, mainly because no matter how the political trend evolves and whether a single wholesale network (SWN) or dual wholesale network model (DWN) is used, it will not be possible to prevent the launch of 5G.
In the first phase of SWN, Malaysia's 5G Special Use Company (SPV) - National Digital Corporation (DNB), as entity A, successfully achieved 80% 5G population coverage last year.
Also, as of June 1, apart from Malaysia Telecom, which is still awaiting shareholder notions, all four other telecom giants have completed share subscription agreements.
After signing, in addition to meeting the financial requirements of the DNB, telecommunications giants also formulated a series of policies and strategies to carry out the transition plan.
Analysts are optimistic that Entity B's 5G network will be better and more cost-effective, plus it can utilize existing...
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$Tesla(TSLA.US$ the "rebound" is not banker, is just retail investor, it might not last or hold, sharing it to prevent ppl being duped into it
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$Trump Media & Technology(DJT.US$ Looking at this stock, I think Trump's election is at a disadvantage![]()
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DBS next support will be around 36.10-36.00, mark in consistent with the Fibonacci of 38.20%
50% around 35.3
61.8 around 34.8
Fundamental side of things. DBS is poise for an earnings meet/beat based on the current interest rate environment. with the incoming rate cute expected in Late Q3 early Q4 it may have some impact on the DBS's earnings and may be reflected in the H2 guidance for DBS this Q2 earnings.
with many bank themes their Q2 should mirror the US bank's ...
50% around 35.3
61.8 around 34.8
Fundamental side of things. DBS is poise for an earnings meet/beat based on the current interest rate environment. with the incoming rate cute expected in Late Q3 early Q4 it may have some impact on the DBS's earnings and may be reflected in the H2 guidance for DBS this Q2 earnings.
with many bank themes their Q2 should mirror the US bank's ...
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US Market Key Charts (S&P, US Dollar, Gold)
$E-mini S&P 500 Futures(SEP4)(ESmain.US$ (4 Hour Chart) -[NEUTRAL] S&P dropped and broke below support, invalidating bullish scenario. We turn neutral for now, expecting price to consolidate between 5640.00 resistance and 5560.00 support. A candlestick close below 5560.00 support will open a drop towards next support at 5510.00. Technical indicators are mixed for now.
Alternatively: A 4 hour candlestick close above 56...
$E-mini S&P 500 Futures(SEP4)(ESmain.US$ (4 Hour Chart) -[NEUTRAL] S&P dropped and broke below support, invalidating bullish scenario. We turn neutral for now, expecting price to consolidate between 5640.00 resistance and 5560.00 support. A candlestick close below 5560.00 support will open a drop towards next support at 5510.00. Technical indicators are mixed for now.
Alternatively: A 4 hour candlestick close above 56...
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Hey Moo Community!
Big news from the U.S. Federal Reserve! Jerome Powell, the Fed Chair, recently dropped some interesting hints at the Economic Club in Washington, D.C. Here’s a quick rundown:
- Inflation Update: The U.S. inflation rate is down to 3% for the 12 months ending in June, from 3.3% in May. This is a huge drop from the 8% peak in 2022.
- Interest Rates: He suggested that the Fed might cut interest rates before inflation hits the 2% target. The current...
Big news from the U.S. Federal Reserve! Jerome Powell, the Fed Chair, recently dropped some interesting hints at the Economic Club in Washington, D.C. Here’s a quick rundown:
- Inflation Update: The U.S. inflation rate is down to 3% for the 12 months ending in June, from 3.3% in May. This is a huge drop from the 8% peak in 2022.
- Interest Rates: He suggested that the Fed might cut interest rates before inflation hits the 2% target. The current...
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