Overnight stock market
European and American stock markets mostly moved higher on Tuesday (July 11), and the three major indexes of US stocks closed up collectively, recording two consecutive positives. All 11 sectors of the S&P 500 closed higher, with the energy sector up 2.2 percent.
Chinese concept stocks were higher overall, with the Nasdaq China Golden Dragon Index up 1.61%, Xpeng Motors up 5.80%, and Li Auto up 3.38%.
Commodity markets
Light crude futures for August delivery rose $1.84, or 2.52%, to settle at $74.83 a barrel on the New York Mercantile Exchange, the highest level since May 1; London Brent crude futures for September delivery rose $1.71, or 2.20%, to settle at $79.40 a barrel, the highest level since April 28.
August gold futures, the most actively traded gold futures market on the New York Mercantile Exchange, rose $6.1, or 0.32%, from the previous session to close at $1,937.1 an ounce. Market analysts believe that the fall in the dollar index is the main reason for the rise in gold prices on the day.
AI-related news continues
【Anthropic launches new version of artificial intelligence chatbot】
A few months after raising $750 million in its second round of funding, generative artificial intelligence (AI) startup Anthropic on Tuesday unveiled a new version of its AI chatbot: Claude 2, which the company currently values at $4.1 billion. This is also the first time Anthropic has opened up its chatbot technology to regular consumers, and in the past two months, the company's AI models have been tested by companies such as Slack, Notion, and Quora, while Anthropic has amassed an appointment list of more than 350,000 people asking for Claude's API and consumer services.
[Google faces privacy infringement lawsuit for allegedly illegally collecting user data to train AI]
Google is currently facing a broad class-action lawsuit in which the tech giant is accused of illegally collecting data from millions of internet users to train its flagship chatbot, Bard, and other artificial intelligence programs. Clarkson Law Firm filed a lawsuit in San Francisco federal court on Tuesday (July 11) local time, alleging that Google violated a series of privacy and intellectual property laws, including the Digital Millennium Copyright Act. A few weeks ago, the law firm sued OpenAI in a similar way, claiming that the company used "unprecedented" illegal web scraping tactics to create its chatbot ChatGPT and image generator DALL-E.
[SAIFSE will increase the price of some cloud products by an average of 9% from August]
Salesforce, a leader in the US SaaS concept, unexpectedly announced that a series of its products will increase prices by an average of 9% starting in August this year. Saifouse emphasized that almost every company in the world is now exploring how generative AI can help improve business efficiency and productivity. In the past few months alone, SAFTH has launched AI cloud services, Slack GPT and other features to help customers across industries adopt and deploy trusted AI.
[AI startup Alphasense raises money at $2.5 billion valuation]
AI-driven market research and data company Alphasense Inc. is raising money with a valuation of $2.5 billion, people familiar with the matter said. The New York-based company is in talks to raise about $150 million, which will be used for the company's business growth opportunities, including potential acquisitions. The round of talks, which has not yet concluded, could be announced in a few weeks. Previously, Alphasense raised $100 million in April at a valuation of $1.8 billion from investors including Viking Global Investors, Alphabet Inc. and a subsidiary of Goldman Sachs.
Other market news
[NATO agrees to remove the requirements for Ukraine's "member state action plan"
NATO member states agreed on the wording of the statement on Ukraine's path to joining NATO on July 11, local time, and agreed to cancel the requirements for Ukraine's "member state action plan". On the same day, NATO issued the communiqué of the NATO summit in Vilnius, which said that "Ukraine's path to full integration into Euro-Atlantic integration has exceeded the needs of the 'action plan of member states'" and that "when the allies agree and the conditions are met, Ukraine will be able to issue an invitation to join the alliance." NATO's Membership Action Plan sets the political, economic and military targets that candidates need to meet before joining NATO's military alliance.
[The United States officially reinstates UNESCO membership]
UNESCO issued an announcement that the United States accepted the Constitution of UNESCO on the 10th and officially resumed its membership in UNESCO.
[EU and Australia fail to reach agreement on FTA negotiations]
A spokesman for the European Commission said on the 11th local time that the EU and Australia failed to reach an agreement on the negotiation of a free trade agreement, and the negotiations reached an impasse. Australia believes that the EU's current agreement proposal is not enough for the country's agricultural exports. Australian Trade Minister Farrell, who participated in the talks, said Australia was ready to abandon the free trade agreement if the EU did not agree to amend its proposal to the agreement. Negotiations on a free trade agreement between the EU and Australia began in 2018 after both sides said they wanted to conclude talks by the end of the European summer.
[Fed discount rate meeting minutes show that 4 regional Feds supported a 25 basis point discount rate increase last month]
The directors of four of the Fed's 12 regional central banks supported a 25 basis point increase in the discount rate in June, while others supported the decision to leave it unchanged. The minutes of the Fed's May 22-June 14 discount rate meeting, released on Tuesday, showed that the directors of the Cleveland, Richmond, St. Louis and Dallas Feds wanted an upward revision.
[Goldman Sachs: Lowered December US core PCE forecast to 3.5%]
Goldman Sachs lowered its December 2023 US core PCE forecast to 3.5% from 3.7% previously. This is partly because of cars, housing and surplus seasonality. But as the labor market gradually returns to equilibrium, core PCE inflation will also be "more persistent."
【California energy storage battery capacity increased tenfold in three years】
The California independent system operator released a report on Tuesday (July 11) local time that the state now has enough large energy storage batteries to supply 5,600 megawatts of electricity, more than ten times higher than the 500 megawatts in 2020. According to operators, this is enough to power 3.8 million homes for about four hours. Energy storage batteries can absorb electricity at noon when solar power is abundant, and then supply power to the grid at night after the sun sets. California has more large energy storage batteries than any other U.S. state, and second-ranked Texas currently has 2,200 megawatts of energy storage capacity, according to a May report by S&P Global.
[Microsoft's acquisition of Activision Blizzard approved by US court]
Federal Court Judge Jacqueline Scott Corley in San Francisco ruled that Microsoft could move forward with the Activision Blizzard acquisition, meaning that the Federal Trade Commission's efforts to block the deal failed. With the court's ruling, Microsoft can reportedly seek to complete its merger with Activision Blizzard in any market except the U.K. before the July 18 deadline. In May, British regulators vetoed the deal.
[New energy vehicle startup Canoo delivers three electric vehicles to NASA]
New energy vehicle startup Canoo has delivered three electric vehicles to NASA. NASA will use Canoo's electric car to send astronauts involved in the Artemis mission to the launch site.
This article is from CaiLian News