Intel with a $20 billion investment

Intel Corporation has announced today that it will invest 20 billion dollars in semiconductor factories. More concretely, Intel is aiming to construct 2 plants in Ohio, with the construction set to start by the end of 2022. It is expected that the factories should be ready by the end of 2025 and should help with semiconductor manufacturing in US.

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Nikkei falls by 2.66%

The Nikkei 225 Index dropped 2.66% to 26,430, finishing at its lowest point in more than two months and following the lead of a downbeat Wall Street market. Increased inflationary pressures, increasing interest rates, and concerns of a global recession continue to put pressure on risk assets.

European stock indices tumble

The sell-off on major European markets continues on Friday as investors fear the tightening wave of monetary policy would harm global growth. After dropping below 400 points on Thursday for the first time since January 2021, the STOXX 600 is down approximately 0.7%. DAX 40 is down 0.8%, setting a new two-month low.

MOEX tumbles after Putin’s news

The MOEX Russia Index fell as much as 10% before reducing its losses to 3% at 2,150. The index continued its 9% decline from the previous session as President Putin proclaimed the nation’s first mobilization since World War II.

Nasdaq to offer crypto custody services

Several sources claim that Nasdaq has been preparing an entry into cryptocurrency custody services. The action is consistent with its ultimate aim of being a service provider in the crypto industry rather than a platform for cryptocurrency trading.

Samsung trying to tame emissions with huge investment

Samsung Electronics will invest about 5 billion dollars (7 trillion won) in green initiatives. The main goal of this should be to tackle the high costs of clean energy, but also eliminating the Scope 1 and Scope 2 carbon emissions. The following step would be the development of a plan to reduce Scope 3 emissions, which has not happened yet.

Starbucks and Polygon with NFT program

Starbucks partnered with Polygon to start offering an NFT-based loyalty program. Customers can buy the Starbucks Odyssey NFTs to claim benefits and an immersive experience provided by the company. From now on, customers can join the waitlist to receive access to Starbucks Odyssey.

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China orders massive equity buying

China continued its lockdowns that appeared to hurt its economy as the rest of the world said goodbye to COVID. The nation’s real estate market and stock market suffered as a result. Currently, the government has directed state banks to buy equities to stop excessive selling.

Interpol issued red notice on Do Kwon

Interpol issued a red notice on Do Kwon, the co-founder of Terraform Labs. Do Kwon insists that he is not hiding, but it is unclear where he is because Singaporean authorities claim he is not in the country.

Nikkei falls by 2.66%

The Nikkei 225 Index dropped 2.66% to 26,430, finishing at its lowest point in more than two months and following the lead of a downbeat Wall Street market. Increased inflationary pressures, increasing interest rates, and concerns of a global recession continue to put pressure on risk assets.

Serbian Dinar weakens

As a result of the Fed’s aggressive rate hikes, Serbian Dinar hits an all-time low against the US Dollar. USD/RSD rose 0.62% to 121.6800 from 120.9300 in the previous trading session.

Russia is about to legalize crypto

Russia took the first step toward legalizing crypto, and it benefits everyone. Kommersant reported that the country’s Deputy Finance Minister Alexei Moiseev and the Bank of Russia have settled on using cryptocurrency for cross-border payments. Locals are permitted to process international payments using crypto.

Bearish sentiment rules markets

Rate hikes from all central banks worldwide are pushing markets lower. In the last week, DAX 40 fell by 4%, S&P 500 by 6%, and Dow Jones by 5%. Commodities followed, with WTI Crude Oil down 8% and natural gas down 11% for the week.

News

Weekly macro report – It’s time to be a contrarian (S&P 500)
SP500
-1.72%

Weekly macro report – It’s time to be a contrarian (S&P 500)

In our macro report, we monitor great extremes in negative sentiment, short-selling and option trading. Despite worsening macro, a possible rally is likely.
GBP/USD crashes to all-time lows, touches 1.04
-0.1%

GBP/USD crashes to all-time lows, touches 1.04

This article provides an analysis of the British pound's recent decline and the possibility of a potential parity with the US dollar.

Did MIT invent a new type of cheap battery?

Have MIT engineers invented a replacement for the lithium-ion battery? These are used in conjunction with, for example, electric cars.

Honda has to cut production due to chip shortage

Honda has to cut production by 40% at one factory and 30% at another. This is primarily due to a shortage of chips.