๐ The SP500 is trading at historically high levels, but many analysts are pointing to "internal" weaknesses in the market. An increasing number of stocks within the index are trading below their 50-, 100-, and 200-day moving averages. Despite this ongoing situation, the SP500 continues to rise. Former President Trump has repeatedly stated that the stock market will keep growing.
๐ธ๐ฆ๐บ๐ธ The Foreign Minister of Saudi Arabia has arrived in Washington for a meeting with his American counterpart.
๐ง A recent survey reported by TASS reveals that one-third of accountants believe they could be replaced by artificial intelligence (AI). This highlights growing concerns about the impact of AI on the accounting profession and job security in the industry. The findings suggest a significant shift in attitudes towards automation and its potential role in the workforce.
๐บ๐ธ Trump is set to make a statement on AI today at the White House. He will meet with Anthropic's CEO, Dario Amodei.
๐จ On Saturday, reports emerged that the Ministry of Energy proposed considering the implementation of external management mechanisms for the assets of the network operator Trassa. This suggestion is in line with the new presidential decree regarding the security of critical infrastructure, which has seen a 10% increase in the EUTR.
๐จ The fragmentation of Europe is being reconsidered. The European Union is formulating phased plans for the accession of four countries: Albania, Moldova, Ukraine, and Montenegro, according to POLITICO.
โ ๏ธ๐ฎ๐ท General Shekari stated on IRIB News that even if the war ends, Iran will not leave anything unaddressed, and both Trump and Netanyahu will face "deserved punishment." He emphasized that this is inevitable and merely a matter of time.
๐ข๐ช๐บ Europe is preparing for intense competition with Asia over liquefied natural gas (LNG) this winter. Amid restrictions on supplies from the Middle East, Asian buyers are willing to pay significantly higher prices for LNG. This situation could lead to a tug-of-war for resources, ultimately impacting energy availability and prices in Europe. For more details, visit FT.
โ ๏ธ๐ฆ๐บ The Reserve Bank of Australia is set to raise interest rates during its meeting on September 29 amid rising inflation, according to a Bloomberg survey of analysts.
๐จ Chinaโs industrial enterprises reported a profit increase of 4.2% year-on-year in August, marking the slowest growth rate for 2023, according to the National Bureau of Statistics. For the year-to-date, profits have risen by 15.7%. The latest figures highlight ongoing challenges in the Chinese economy. For more information, visit Reuters.
๐จ China dismisses Western fears of an AI apocalypse as "fear marketing" aimed at curbing competition. The country remains committed to advancing AI technology, emphasizing state control and deeming the risk of losing authority over AI as unlikely. For more details, read the full article โ NYT.
๐ข๐ท๐บ The government has revised its forecast for hydrocarbon production and export. Oil exports from Russia are increasing despite a decline in raw material processing, according to Vedomosti. For the year, oil exports are expected to reach 244.7 million tons, exceeding previous estimates by 3% and actual shipments in 2025 by 6%. However, fuel product exports are projected to be 20% lower than the May estimate, totaling 98.5 million tons.
๐ In 2027, a digital platform for subsurface data will be launched, capable of supporting up to 30 AI agents. VK Tech will serve as the IT integrator, overseeing the development on a unified platform.
๐ The price of scrap ferrous metals in ports has increased by 4-5% over the past month, according to Kommersant. A reduction in the supply of steel semi-finished products, coupled with logistical constraints in the Black Sea, has heightened demand for scrap ferrous metals in Turkey, driving up prices for this raw material.