Today’s Trading Prospects
New Zealand’s central bank interest rate decision
Japan August Archyde.com Tankan Manufacturing/Non-Manufacturing Index
US retail sales in July
US stock earnings (pre-market): Target Department Store (TGT), Lowe’s (LOW), Analog Devices (ADI)
Biden signs inflation-cutting bill to focus on green energy, health care, tax hikes
U.S. President Biden on Tuesday (16th) signed the “Inflation Reduction Act” (Inflation Reduction Act), covering three major aspects of climate, health care and taxation, symbolizing the Democratic Party’s major victory in the midterm elections less than three months away . White House economic advisers said that despite many uncertainties in the coming year, the inflation-cutting bill and strong employment will help stabilize the U.S. economy.Read the full article…
U.S. chip law forces major semiconductor manufacturers to choose sides, think tank experts: China is currently helpless
After US President Joe Biden signed the CHIPS and Science Act this month, major semiconductor manufacturers such as TSMC and Samsung Electronics were forced to choose sides, and China’s response has attracted much attention. Experts believe that even if it is unhappy, the Beijing government is still unable to respond forcefully.Read the full article…
WSJ: The U.S. allows almost all technology to be exported to China
The “Wall Street Journal” reported on Tuesday (16th) that the United States is tightening export restrictions on semiconductor equipment, citing national security, but data show that the US Department of Commerce has approved almost all US technology exports to China, and some vital technology Exports even increased instead of decreasing.Read the full article…
Apple supplier Lumentum’s poor Q1 forecast drags shares lower
U.S. optical components giant and Apple supplier Lumentum Holdings announced its fourth-quarter and full-year financial results for the 2022 fiscal year before the market on Tuesday (16th). The bleak financial forecast for the first quarter of the 2023 fiscal year has affected the stock price to tumble before the market, and it continued to decline following the opening, falling more than 6% by the end of the session.Read the full article…