Alibaba Beats Earnings

🚨 🚨 BREAKING: Alibaba Non-GAAP EPADS of $2.40 beats by $0.39, revenue of $32.29B beats by $1.08B
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Chinese Scramble For $5B Worth Of Chips

🧠 🧠 BREAKING: China’s top tech companies have placed orders worth $5B for sophisticated chips, which are important to make generative artificial intelligence, or AI, systems, amid fears of US curbing China’s AI ambitions
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India’s Zee And Sony To Merge

🇮🇳 🇮🇳 BREAKING: India’s company law tribunal on Thursday approved a merger between Sony Group Corp.’s South Asian unit and Zee Entertainment Enterprises Ltd. (Z), clearing the way for the creation of a media behemoth
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Markets: Where Are We At Now

🇺🇸 🇺🇸 JPMorgan highlighted in an investor note that the S&P 500 threatens key technical support levels as momentum has taken the benchmark index lower over the past week and a half. Since topping out at 4607 on July 27th, the S&P 500 has since declined roughly 3.04% to 4467
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Europe’s Banks Are Getting Squeezed

🚨 🚨 Analysts expect only 2 of Europe’s 20 biggest banks to see their year-on-year NII growth rates — essentially the difference between the interest a lender earns on loans and pays on deposits — continue to accelerate in the third quarter
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Tapestry Owner Looking To Buy Capri

👜 👠 Tapestry Inc. owner of the Coach brand, is in talks to purchase Capri Holdings, known for brands such as Michael Kors, Jimmy Choo and Versace
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China Slams Biden’s Order

🇺🇸 🇨🇳 BREAKING: China slams Biden’s order limiting U.S. overseas tech investment. China says the order “seriously disrupts the security of the global industrial and supply chains.” Rather than an outright ban, the measures are aimed at limiting U.S. investment and expertise in semiconductors and microelectronics, quantum computing and certain artificial intelligence capabilities in China, Hong Kong and Macao
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Crude Oil Hits 8-Month High

🛢️ 🛢️ Crude oil hits 9-month high, natgas a 5-month peak — and carry energy stocks up with them
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Make 30% From An Indexed Portfolio

👆 👆 The assets under management (AUM) of global ETFs has increased from 204 billion U.S. dollars in 2003 to 9.6 trillion U.S. dollars in 2022. The regional distribution of the AUM of ETFs was heavily skewed towards North America, which accounted for around 4.5 trillion U.S. dollars of the global total (see chart above)
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Markets: A Tactical Correction Is Underway

📉📉 Stocks: A “tactical correction” is underway and may continue for a bit longer because of seasonal weakness historically in the upcoming period. After testing the target for the summer rally at 4580 and chart resistance at 4590-4637 in late July, the [S&P 500] has corrected, moving into a less robust period of seasonality
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