$NVIDIA Corp(NVDA)$   Watching the Fibonacci retracement levels: ($75.61 - $140.76) - 23.6% ($125.38)  - 38.2% ($115.87) - 50.0% ($108.19) ✔️ - 61.8% ($100.50) ✔️ - 78.6% ($89.55) ✔️ (this is not an invitation to trade) 25 Jul 2024

$NIO Inc.(NIO)$ > NIO had a Q4/22 loss that was much wider than expected and a guidance for Q1/23 which is well below what Wall Street had expected. • NIO reported a Q4/22 loss of 51cts a share on revenue of $2.33bn, versus Wall Street expectation for a loss of 26cts a share and $2.5bn in sales. • Q4/22 results also fell short in comparison with the loss of 36cts a share and sales of $1.8bn in Q3/22. • For Q1/23, NIO expects to deliver between 31,000-33,000 vehicles. It has delivered 20,663 vehicles in January and February, leaving some 11,000-12,000 vehicles to be delivered in March. That’s a huge disappointment as NIO delivered more than 40,000 vehicles in

> Intel Corp Q4/22 - The Big Miss • Q4 revenue down 32% y-o-y. • Q4 net loss of $664m vs $4.62bn profit y-o-y. • Q4 EPS 10cts per share vs 20cts analysts' forecasts. • 4th consecutive quarter of sales decline. • Full-year 2022 revenue down 20% vs 2021. • Full-year earnings $1.94 per share vs $4.86 per share in 2021. • Full-year net income $8bn, less than half the $19.9bn in 2021. More Pain To Come? • Intel is forecasting more pain for the coming quarter. In its Q1/2023 guidance, it’s guiding for a net loss of 15cts per share on revenue of between $10.5bn - $11.5bn, versus Wall Street’s forecast of 24cts per share on revenue of $13.93bn. • Intel is not offering any full-year guidance given “uncertainty i

> Here's how Apple did versus Refinitiv consensus estimates: • EPS $1.29 vs. $1.27 est. • Gross margin: 42.3% vs. 42.1% est. • Revenue. $90.15bn vs. $88.90bn est, up 8.1% yoy • iPhone revenue: $42.63bn vs. $43.21bn est, up 9.67% yoy • Mac revenue: $11.51bn vs. $9.36bn est, up 25.39% yoy • iPad revenue: $7.17bn vs. $7.94bn est, down 13.06% yoy • Other Products revenue: $9.65bn vs. $9.17bn est, up 9.85% yoy • Services revenue: $19.19bn vs. $20.10bn est, up 4.98% yoy

> Google's Q3 Performance Slowdown in Ad sales, missing analyst expectations. • Total revenue was $69.09bn vs $65.12bn yoy. Analysts on average expected revenue to be $70.58bn. • Net income fell to $13.91bn, or $1.06 per share, from $18.94bn, or $1.40 per share yoy. Net income missed analyst expectations of $1.25 per share. • Operating margin declined to 25% vs 32% yoy. • Ad revenue was $54.48bn vs $53.13bn yoy, but came in below analysts' expectations. • Ad sales on YouTube declined to $7.07bn from $7.2bn yoy. • Revenue from Google Cloud rose to $6.9bn from $5bn yoy. Alphabet is facing a slowdown in advertiser spending on YouTube and the cooling of adspend by financial services sectors on Google, and plans to cu

> Here are the topline results: • EPS: $3.10 vs. $2.13 per share, according to Refinitiv. • Revenue: $7.93 billion vs. $7.837 billion, according to Refinitiv survey. • Expected global paid net subscribers: Addition of 2.41 million subscribers vs projected 1.09 million subscribers, according to StreetAccount estimates. The majority of Netflix’s net subscriber growth during the quarter came from the Asia-Pacific region, which accounted for 1.43 million subscribers. The U.S.-Canada region had the smallest growth of Netflix’s regions, contributing just 100,000 net subscribers. > Plans In the pipeline: • Netflix will begin to crack down on password sharing next year, opting to allow people who have been borrowing accounts to create their own. • The compa

> Nomura analysts are expecting the Federal Open Market Committee to likely raise its short-term interest rate target by a full percentage point at its policy meeting next week on Sep 20-21, because of the emergence of upside inflation risks.Nomura predicted that the U.S. central bank would raise its fed funds target rate by 50 basis points at both the November and December meetings.Nomura also said it was raising its forecast for the terminal rate by 50 basis points to 4.50%-4.75% by February 2023.The market sees the policy rate reaching the 4.00%-4.25% range by the end of this year, and 4.25%-4.5% by March.CPI climbed 0.1% last month from July, and gained 8.3% in the 12 months through August, the Labor Department reported on Tuesday.

Hiring in July was far better than expected, defying signs that the economic recovery is losing steam.Payrolls increased 528,000 in July, much better than expected in a sign of strength in the jobs marke and unemployment rate was 3.5%, - easily topping the Dow Jones estimates of 258,000 and 3.6% respectively.Wage growth also surged higher, as average hourly earnings jumped 0.5% for the month and 5.2% from a year ago, higher than estimates.Traders are now pricing in a higher likelihood of a 0.75 percentage point hike for the next Federal Reserve meeting in September.

> STI closed the week of June 13-17 at 3,098, down 83 pts.The index shows a falling trend channel in the short term with strong negative momentum, and has broken the floor of the rising trend channel in the medium long term.A double-top formation has been formed by the two peaks of 3.440 and 3,442 reached in Feb and April this year, and it has since broken through the neckline support of 3,160 and key support of 3,132. The index is between support level of 3,060 and resistance at 3,130. A definitive break through of one of these levels predicts the new direction.Overall the index trend is technically negative for the short and medium term. The charts are signaling negative, and indicate further decline may be expected. On the downside, a retracement to 2,900 or below may be a possible o

> For the week ended June 17, US equity markets continued to fall as the Dow and Nasdaq declined 4.8%, while the S&P 500 contracted 5.8%. Declines were led by growth stocks and procyclical stocks, mainly in the technology sector and travel industry.Growing concerns weighed on markets that the U.S. economy could fall into a recession as the Federal Reserve raised its benchmark rate by 75 bps, its largest rate hike since 1994. U.S. Treasury notes rose to its highest level since 2011, reaching a high of 3.49% before closing the week at 3.23%. Crude oil prices recorded their first weekly decline since April, as concerns over a global growth slowdown led to reduced demand for oil. West Texas Intermediate crude closed the week at $109 per barrel.Next week will be a shortened trading week

Ethereum Reverses Trend, Price Remains at Risk  > Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is declining and remains at a risk of more downsides below the $1,000 support.Ethereum started a fresh decline after it failed to surpass the $1,250 zone. The price is now trading below $1,200 and the 100 hourly simple moving average.There is a connecting bearish trend line forming with resistance near $1,095 on the hourly chart. The pair could resume its decline unless it clears $1,150 and $1,200 in the near term.A clear move above the $1,200 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,260 level. Any more gains could start a move towards the $1,350 resistance.If ethereum fails to rise above the $1,200

> Considering that Musk has yet to conclude his decision to takeover Twitter, it is highly unusual for him to be addressing the company's employees on such a scale as an outsider, and suggests that his takeover move may well be closer to reality soon.Speaking to Twitter's 8,000-strong workforce via a smartphone video, Musk on Thursday laid out a bold vision for Twitter’s future, if he succeeds in taking the company private, in a freewheeling conversation that also touched on issues including content moderation, remote work and aliens.Musk warned Twitter staffers its business needed to “get healthy” and undergo a “rationalisation of headcount and expenses” as he addressed the social media platform’s employees directly for the first time since launching his $44bn takeover bid.The Tesla ch

> SIA Group passengers rose by 1,325% YoY with a total of 1,705,200 passengers carried in May 2022.With air travel recovery still ongoing in May 2022, the Singapore Airlines Group posted 1,705,200 passengers last month, up by 1,325% from 119,600 passengers carried in the same month in 2021.On a monthly basis, the number of passengers served by Singapore Airlines and Scoot increased by 17.4%.For group passenger capacity, it reached 61% of pre-Covid-191 levels in May 2022, which is four percentage points higher than the month before.The SIA Group passenger load factor (PLF) for the month registered was at 78.2%, the highest since the pandemic began.For the first week of June, passenger traffic reached 48% of pre pandemic levels, as reported by Changi Airport Group à Way ahead of the Gover

What lies ahead remains to be seen as markets await the minutes of the US Fed June meeting. Whilst a 75 bps hike may unsettle the markets, a 50 bps hike on the other hand will surprise and soothe battered markets.Analysts believe that an extremely hawkish commentary from the US Fed would roil the markets going ahead, which may ultimately unsettle global investors and trigger a broad-based pullback in asset prices and fuel declines in the US equity and bond markets.If the US Fed raises the benchmark rate by 75 bps, it would be the biggest hike seen since 1994. Historically, the US Fed has kept interest rates in the range of 2 to 4 per cent to balance growth.Global investment bankers like Barclays and Jefferies make the case for 75 bps rise in interest rates. Analysts at

Bitcoin Extends Decline, Key $20,000 Support _ > BTC is down 20% and approaching the key $20,000 support zone.A new multi-week low is formed near $20,824 and the price is still trading in a strong downtrend. There was a close below the $22,000 level and the 100 hourly simple moving average.Bitcoin is now consolidating near the $21,000 level. An immediate resistance on the upside is near the $21,800 level. The first major resistance is near the $22,000 level. If there is a clear move above the trend line, the pair could rise towards the $23,000 level. The main resistance is near the $25,000 level.If bitcoin fails to clear the $22,100 resistance zone and the trend line, it could continue to move down. An immediate support on the downside is near the $21,000 level.The next major

Fed Watch: June 14-15 FOMC Meeting _ > The Federal Reserve Open Markets Committee (FOMC) minutes, due for the meeting on June 14-15, will provide clues to how agressive policyholders plan to be, on the back of the 8.6% rise in consumer price index in May, the highest level reached in more than four decades.The Federal Reserve will likely deliver its second consecutive 50bps interest rate hike and continue to roll off assets from its nearly $9 trillion balance sheet. Markets are currently pricing in a 95% chance of another 50bps rate hike this month. If the FOMC pulls this trigger on another 50bps raise, its federal funds rate target rate will be between 1.25% and 1.50%.The Fed has been walking a tightrope in recent months, attempting to bring down inflation levels without plun

$Tesla Motors(TSLA)$ _ It's official - Tesla 3-for-1 Stock Split >Tesla (TSLA) announced in its annual proxy statement released late Friday that it will seek shareholder approval to split its stock 3-for-1.Shareholders will vote on the proposal at Tesla's annual meeting on August 4th.Tesla shares rose as much as 3% after hours on Friday following the news; shares fell 3.1% during Friday's regular trading session. Tesla shares have dropped 34% so far this year.

China's central leadership has given billionaire Jack Ma's Ant Group a tentative green light to revive its initial public offering (IPO), two sources with knowledge of the matter said, in the clearest sign yet Beijing is easing its crackdown on the tech sector.Ant, an affiliate of Chinese e-commerce behemoth Alibaba Group Holding Ltd, aims to file a preliminary prospectus for the share offering in Shanghai and Hong Kong as early as next month, the sources said, declining to be named due to the sensitivity of the matter.The fintech giant will need to wait for guidance from the China Securities Regulatory Commission (CSRC) on the specific timing of the prospectus filing, said one of the sources.In a publicly released statement however, Ant said there was no plan to relaunch its IPO, without

US Consumer Price Inflation (CPI) _ > Economists surveyed by Dow Jones expect the CPI to be up 8.3% y-o-y in May, the same as April, with prices of energy, food, rent and health-care costs all rising and remaining high. Notably y-o-y inflation reached a high of 8.5% in March.Some cooling however is expected in core inflation, meaning the measure with energy and food excluded - with core CPI is expected to rise 0.5% or 5.9% y-o-y in May, as compared to 0.6% in April, or 6.2% y-o-y.The Fed is expected to raise its target funds rate by a half point next week and another half point in July. But after that, the pace is less clear. On Thursday afternoon, the market was pricing in a more than 70% chance of a 50 basis point hike for September. A basis point equals 0.01%.

What Lies Ahead in US Markets?All the three leading US stock market indices ended in the red at the close of trading on 31 May 2022.It has been one of the worst starts for the year with the Dow Jones down by 9.2%, S&P 500 down by nearly 13.3% and Nasdaq 100 down by almost 23% year-to-date.Starting June 1, the Federal Reserve balance sheet is going to be reduced as the Fed begins quantitative tightening to start shrinking its $8.9 trillion balance sheet from Wednesday, something which will impact the short-to-medium term pathway for stocks ahead.As inflationary pressures, rate hikes and recessionary fears continue to prevail ahead of US payroll numbers this Friday, the responsibility for controlling the deca