DAX edged 0.2% lower, to 13,674.98, CAC 40 added 0.1% to 6,531.38, FTSE 100 slipped 0.1% to 7,498.34 and futures for S&P 500 and Dow Jones Industrial Average were 0.2% higher
World shares were mixed Thursday after Wall Street benchmarks closed at three-month highs as investors cheered a report showing inflation cooled more than expected in July.
U.S. futures edged higher and oil prices also advanced.
The U.S. government said Wednesday that consumer inflation jumped 8.5% in July from a year earlier. But that was down from June’s four-decade high of 9.1%.
Germany’s DAX edged 0.2% lower, to 13,674.98, while in Paris the CAC 40 added 0.1% to 6,531.38. Britain’s FTSE 100 slipped 0.1% to 7,498.34. The futures for the S&P 500 and the Dow Jones Industrial Average were 0.2% higher.
On Wednesday, the S&P 500 surged 2.1% on expectations that slower inflation will mean the Federal Reserve may moderate its interest rates hikes. Technology stocks, cryptocurrencies and other investments that have been among the year’s biggest losers due to the Fed’s aggressive rate hikes led the way.
The Nasdaq composite, whose many high-growth and expensive-looking stocks have been particularly vulnerable to interest rates, jumped 2.9% while the Dow industrials advanced 1.6%.
Asian markets also took heart. Hong Kong’s Hang Seng index added 2.4% on Thursday to 20,082.43, while the Shanghai Composite index gained 1.6%, to 3,281.67. The Kospi in Seoul rose 1.7% to 2,523.78. In Australia, the S&P/ASX 200 climbed 1.6% to 7,071.00. Taiwan’s Taiex was up 1.7%.
Tokyo’s markets were closed for a holiday.
In Thailand, the SET gave up 0.2% after the country’s central bank raised its benchmark interest rate by 0.25 percentage points to 0.75% a day earlier. The Southeast Asian country’s economy has been hard hit by the pandemic, which ravaged its all-important tourism sector.
Despite the improved U.S. inflation reading, analysts warned the war on higher prices is not over.
It’s of course great to see the latest inflation print come lower-than-expected, but first, one data point doesn’t make a trend, and we had a similar surprise earlier this year, but then inflation spiked to fresh multi-decade highs the following month, Ipek Ozkardeskaya of Swissquote Bank said in a report.
She noted that softer energy prices were the main factor tempering inflation, while prices for food, housing and wages pushed higher.
Canon’s new technology competes with ASML in chip manufacturing
The new system, FPA-1200NZ2C, can produce semiconductors matching a 5nm process and scale down to 2nm, surpassing the capabilities of the A17 Pro chip…
The new system, FPA-1200NZ2C, can produce semiconductors matching a 5nm process and scale down to 2nm, surpassing the capabilities of the A17 Pro chip found in Apple's iPhone 15 Pro and Pro Max.
Canon, the Japanese company recognized for its printers and cameras, unveiled a pivotal solution on Friday, Oct. 13, designed to aid in the production of cutting-edge semiconductor components.
According to a report from CNBC, Canon's recently introduced "nanoimprint lithography" system represents the company's competitive response to Dutch firm ASML, a dominant force in the extreme ultraviolet (EUV) lithography machine sector. ASML's machinery is essential for producing cutting-edge chips, including those used in the latest Apple iPhones.
The utilization of these machines has been drawn into the technological conflict between the United States and China. The United States, employing export restrictions and diverse sanctions, has aimed to obstruct China's access to crucial chips and manufacturing machinery, hampering the progress of the world's second-largest economy in a field where it is already perceived as lagging.
ASML's EUV technology has gained significant traction among leading chip manufacturers due to its crucial role in enabling the production of semiconductors at 5 nanometers and below. This nanometer measurement pertains to the size of chip features, with smaller values accommodating more features on a chip, consequently enhancing semiconductor performance.
Canon reportedly announced that its new system, the FPA-1200NZ2C, can produce semiconductors matching a 5nm process and scale down to 2nm, surpassing the capabilities of the A17 Pro chip found in Apple's iPhone 15 Pro and Pro Max, which is a 3nm semiconductor.
The Dutch government has imposed restrictions on ASML, preventing the export of its EUV lithography machines to China, where no units have been shipped. This limitation exists due to the critical role of these machines in the production of cutting-edge semiconductor chips.
With Canon's assertion that their new machine can facilitate the production of semiconductors equivalent to 2nm, it is likely to face increased scrutiny.
Cointelegraph reported earlier that the Biden administration is targeting a loophole that has allowed developers in China to purchase chips from the infamous Huaqiangbei electronics area in Shenzhen, a city in southern China.china
It’s All About Provoking Your Reaction
It’s All About Provoking Your Reaction
Authored by Scott Horton via The Libertarian Institute,
…so wise up!
With terrorism, as with all…
...so wise up!
With terrorism, as with all asymmetric political action, “the action is in the reaction of the opposition,” as Saul Alinsky, the leftist activist, put it in his book Rules for Radicals.
This isn’t conspiracy stuff, nor impossible “4th dimensional chess”—it’s just plain, old 2-dimentional chess. That’s all.
Hamas, al Qaeda, and similar groups slaughter civilians—beheaded babies or not, they certainly murdered hundreds and hundreds of innocent, civilian Israeli non-combatants in this one (including an extended family member of mine) just as they slaughtered thousands on September 11—for a reason, not simply because they are angry or devils. It’s a tactic. They are trying to provoke a reaction.
They are trying to make you angry, to make you hate, even drive you crazy. Yes—yes—for the purpose of making the more powerful force (i.e. the United States, Israel) do even worse to their own people, such as getting the U.S. to invade Afghanistan and getting Israel to bomb the Gaza strip. Not that al Qaeda was from Afghanistan, but that’s where they were and that’s who they knew were gonna get it. (Also, by the way, U.S. support for Israel’s crimes in Palestine and Lebanon was a huge part of the motive for al Qaeda’s war against the United States in the first place, including for some of the most important pilot hijackers and organizers of the plot.)
This is then meant to provoke still further counter-reactions. It “heightens the contradictions” as the commies used to say. It forces leaders of Muslim states and armed groups everywhere to take a stand. It destroys stability and negotiations and progress, radicalizes new groups and forces everyone back into the fight on one side or the other. It makes every sock-puppet princeling of the Gulf take a stand in support like the Ayatollah or sell out in silence in the most embarrassing way, like Crown Prince bin Salman, etc.
It’s the same reason Bosnian Muslim forces butchered Serbs and Chechen Muslim forces butchered Russians and ISIS slaughtered Shi’ites: to provoke a worse crisis for everyone in the hopes that the overall situation changes to their advantage.
I would note that terrorism is usually as stupid as it is evil; see Bosnia, where they got less and less; Chechnya, Syria and Iraq Wars II and III where they lost outright. Osama’s nemesis, the Saudi monarchy, still stands, and with as degenerate a self-worshiper in the Crown Prince position as he could have ever feared. Hamas may very well not survive this.
But for Israel to completely destroy them would require a level of violence that the civilian population of the Gaza strip, one half of them under 18 years old—all of them trapped with no where to go—simply cannot withstand. Hundreds have already been killed.
Ramzy Baroud argues that a land invasion of the strip will be a catastrophe for Israel too.
The longer this goes on, the greater the danger to the Israeli hostages as well.
By widening the war into a full-scale invasion of Gaza, the Israelis risk spreading the war to a full-scale uprising on the West Bank, a fight with Hezbollah in Lebanon or even northern Israel, which could then lead to things going sideways in Iraq—where George W. Bush installed a very Iran- and Hezbollah-friendly Shi’ite theocracy in power—and who-knows what.
Powerful Muslim states who are friendly to Israel, such as Turkey and Egypt, must be allowed to step in and play a negotiating role here.
Stop reacting. And stop posturing like a bunch of little girls on TikTok. Pull the brakes before it’s too late.
I know calling your congressmen feels like pissing in the wind. But do what you can to make your voice heard and call for cease-fire and talks as soon as possible.
Ultimately the Palestinians must have independence or citizenship. Otherwise, as Ariel Sharon’s man, former Prime Minister Ehud Olmert said, they’re left with an untenable apartheid state.
And the United States should stop sharing in the responsibility for this shame immediately by ending all aid and military support for the occupation - and for that matter in all cases, everywhere.
Also, USS Gerald Ford: watch your six.
Where The Ultra-Rich Spend Their Holidays
Where The Ultra-Rich Spend Their Holidays
There are more than 25,000 centi-millionaires around the world today, forming an elite club composed…
There are more than 25,000 centi-millionaires around the world today, forming an elite club composed primarily of founders and heirs of family fortunes.
According to Henley & Partners, most of these individuals - who have more than $100 million in investable assets by definition - split their time between several properties each year.
To explore the destinations that are the most sought-after by the ultra-wealthy, Visual Capitalist's Selin Oğuz and Christina Kostandi visualized the cities that saw the biggest influx of seasonal centi-millionaire residents in 2022, using data from Henley & Partners.
Centi-Millionaire Vacation Hotspots
The top three seasonal vacation hotspots of the ultra-rich are found in the United States: Miami, the Hamptons, and Florida’s West Palm Beach.
This may not come as a shock given the concentration of centi-millionaires in the United States, with New York, the San Francisco Bay Area, and Los Angeles being home to the highest number of centi-millionaire residents in the world.
Regardless of where they live year-round, the table below reveals where these elites flock for seasonal getaways in their secondary homes.
|Rank||City or Town||Year-Round Centi-Millionaire Residents, 2022||Peak Holiday Month Centi-Millionaire Residents, 2022|
|1||???????? Miami, Florida||160||800|
|2||???????? The Hamptons, New York||25||700|
|3||???????? West Palm Beach, Florida||64||400|
|4||???????? Paris, France||126||300|
|5||???????? Santa Barbara & Montecito, California||82||200|
|6||???????? San Diego, California||70||200|
|7||???????? Nice, France||60||200|
|8||???????? Napa, California||28||200|
|9||???????? Golden Triangle, Algarve, Portugal||20||200|
|10||???????? Aspen, Colorado||6||200|
|11||???????? Carmel-by-the-Sea, California||40||150|
|12||???????? Boca Raton, Florida||38||150|
|13||???????? Lisbon, Portugal||35||150|
|14||???????? Lugano, Switzerland||30||150|
|15||???????? Cannes, France||20||150|
|16||???????? Antibes, France||18||150|
|17||???????? Jackson Hole, Wyoming||10||150|
The data above only considers centi-millionaires vacationing in their secondary residences, therefore excluding hotel stays, holiday rentals, and yachts. Peak holiday months vary for each location.
Beyond the 10 U.S. cities that constitute the top 17 centi-millionaire seasonal hotspots, we come across several French cities on the list, including Paris, Nice, Cannes, and Antibes, as well as Portugal’s Golden Triangle and Lisbon.
Global Centi-Millionaire Trends
According to Henley & Partners’ 2023 Centi-Millionaire Report, the global centi-millionaire population is expected to grow by 38% in the next decade, reaching nearly 40,000 by 2033.
Much of this growth is expected to be seen in countries such as China, India, and Saudi Arabia. China’s Hangzhou and Shenzhen, specifically, are expected to see the highest percentage growth in centi-millionaire populations through 2033, growing by 95% and 88%, respectively.
Despite the rapid growth of the wealthy in the global East, however, it’s notable that many centi-millionaires are still graduating from American universities.
More than half of the top 20 universities with the most centi-millionaire alumni are in the United States, with Harvard, Stanford, and the University of Pennsylvania making up the top three spots.
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