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Musk: As GrokBot continues to improve, user adoption is also increasing. SpaceX (SPCX.O) will deploy GrokBot to enterprises on a large scale within weeks.Musk: SpaceX (SPCX.O) is “quite confident” about achieving 10 gigawatts of computing power by 2027; the possibility of achieving more than 20 gigawatts of computing power by 2027 is not zero.United Airlines (UAL.O) expects its fourth-quarter earnings to fall short of market expectations, highlighting that soaring jet fuel prices continue to erode airline profits despite persistently strong demand for air travel. The company projects adjusted earnings per share of $0.50 to $1.50 for the fourth quarter, below the average analyst estimate of $1.88. Fuel expenses surged 61.6% to $4.84 billion in the previous quarter. The guidance assumes jet fuel prices will rise to an average of $4.80 per gallon from $3.90 in the third quarter. This is yet another blow to the airline industry, which is still struggling to absorb billions of dollars in additional costs from the Middle East wars. High fuel costs may offset gains for U.S. airlines from rising fares and strong spending by affluent travelers. In response to rising costs, airlines are increasingly resorting to measures such as raising ticket prices and cutting flight schedules, but there are few signs that this cost pressure will ease in the short term.On October 21st, SpaceX (SPCX.O) reported that its third-quarter revenue more than doubled, exceeding market expectations, driven by growth in its artificial intelligence and Starlink businesses. Meanwhile, capital expenditures nearly tripled due to investments in computing infrastructure, causing its stock price to rise by about 3% in after-hours trading. However, SpaceXs proprietary AI software—including xAIs Grok—has so far been overshadowed by competitors OpenAI, Anthropic, and Google. SpaceXs third-quarter revenue was $14.58 billion, exceeding analysts expectations of $12.72 billion. Net income for the three months ending September 30th was $4.4 billion, compared to analysts previous expectations of $1.57 billion. AI revenue grew more than ninefold to $7.6 billion, primarily from the leasing of computing power; however, AI accounted for $16.4 billion of the companys $19.6 billion in capital expenditures, a level SpaceX expects to remain unchanged in the near term. In the third quarter, Starlinks user base reached 13.6 million, exceeding analysts expectations of 12.19 million. However, this growth came at a cost: as the company expanded overseas by launching cheaper plans, revenue per user per month dropped from $99 in 2023 to $69 in the third quarter.On October 21, according to the Wall Street Journal, US officials and sources revealed that last week, Elon Musk ordered speed limits on the military-grade Starlink service relied upon by Ukraine, rendering some attack and interceptor drones virtually ineffective. Two sources revealed that Musk and Trump spoke on the matter shortly after the Starlink speed limit was announced last week. One source also stated that the two had discussed the issue before implementing the speed limit. Ukrainian President Zelensky publicly expressed his dissatisfaction, raising widespread questions about who ordered the speed limit, and prompting an informal investigation within the White House. Sources revealed that during the ongoing controversy, SpaceX representatives contacted White House officials to reach a consensus on the matter, subsequently conveying a consistent message that SpaceX had coordinated with the Trump administration before Musk issued the order. Some US officials stated that Musks actions were unilateral, and Trump did not explicitly order any measures against Ukraine.

S&P 500 Price Forecast – Stock Markets Get Sold to Kick off the Week

Alice Wang

Aug 23, 2022 14:48

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The 200-Day EMA was breached by the S&P 500 during the trading session after a steep decline. At this point, the Jackson Hole Symposium this week is still causing a lot of fear in the market.

Technical Analysis of the S&P 500

As there is still a lot of pessimism, the S&P 500 has dropped significantly in the E-mini contract during the trading session on Monday. The central bankers' blather will ultimately draw a lot of attention to this week's Jackson Hole Symposium, and people will be curious about whether or not they will continue to be active in battling inflation. It does make some sense that equities would suffer as long as there is a central bank that is prepared to battle inflation, so a retreat this week is probably to be anticipated.


Along with the 50-Day EMA below, the 4113 level is a region where I anticipate seeing a lot of support. Clearing all of that would be a really unfortunate turn of events, and this market would undoubtedly fall below the 4000 level as a result. The stock market surge, in my opinion, may be almost done at this point, and the direction we go over the following few days' larger move will almost probably be determined by those events.


Sadly, much of this will depend on how the markets understand the statements made by central bankers, which implies that they "may get it wrong" once again. However, by the end of the week, we should see a lot of the momentum that traders have exhibited in one way or the other. On the upside, I believe there is still resistance in the area around the 4300 mark, which may have been the peak.

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