Core Insights - Qantas has unveiled the first images of the specially configured Airbus A350-1000ULR aircraft, which is set to enable the world's longest commercial flights [1] - The aircraft will connect Sydney to London and New York for the first time, with engines and flight test instruments to be installed soon [2] - Qantas CEO Vanessa Hudson highlighted that this progress brings "Project Sunrise" closer to reality, referencing the airline's historical "Double Sunrise" flights during World War II [3] Group 1 - The A350-1000ULR aircraft is currently on the assembly line in Toulouse, France, with all major components attached [1] - The aircraft will move to a new hangar for engine installation and flight testing, with commercial services expected to begin in the first half of 2027 [2] - "Project Sunrise" aims to enhance long-haul travel, echoing the airline's legacy of endurance flights [3]

An Amazon Web Services Inc. office in Herndon, Virginia, U.S., on Thursday, Aug. 29, 2024.October's job losses in the U.S. were nearly twice as high as a month earlier — the steepest for any October since 2003, data from outplacement firm Challenger, Gray & Christmas showed.The technology sector was the hardest hit, with 33,281 cuts, almost six times September's total.Being laid off is an awful feeling — and it must feel bitterly ironic to work in a field that's developing the very technology making you red ...

Market Overview - European markets are expected to open mixed, with the U.K.'s FTSE 100 set to open slightly lower, while France's CAC index and Italy's FTSE MIB are seen 0.1% higher, and Germany's DAX index is little changed from the previous session [1] - European stocks closed lower on Thursday, with most sectors and major bourses ending in negative territory after a busy earnings day [1] Company Performance - Diageo's stock fell 6.5% after the company cut its full-year guidance, citing weakness in the Chinese and U.S. markets [2] - Upcoming earnings reports include companies such as Richemont, International Consolidated Airlines Group SA, Daimler Truck Holding AG, Amadeus IT Group SA, Cellnex Telecom SA, and OTP Bank NYRT [2] Economic Data - Investors are focused on upcoming data releases, including import and export data in Germany, French trade figures, and the U.K.'s House Price Index [3] - Recent central bank decisions saw the Bank of England and Norway's central bank hold rates steady, with BOE Governor Andrew Bailey indicating that rate cuts are anticipated, with economists pricing in a pre-Christmas rate cut [3][4]

Core Viewpoint - The CEO of DBS Group warns investors to prepare for market turbulence due to stretched valuations in the U.S. stock market, particularly concerning artificial intelligence stocks and the concentration of investments in a few major companies [1][2][5]. Group 1: Market Volatility - DBS CEO Tan Su Shan highlights ongoing volatility in various markets, including equities, rates, and foreign exchange, and anticipates this trend to continue [1]. - The concentration of investments in the "Magnificent Seven" stocks (Amazon, Alphabet, Meta, Apple, Microsoft, Nvidia, and Tesla) raises concerns about a potential market correction [2][3]. Group 2: Market Correction - Tan Su Shan suggests that a market correction of 10%-20% could occur within the next 12 to 24 months, indicating a significant drawdown is likely [3]. - Morgan Stanley CEO Ted Pick supports the idea that periodic pullbacks are healthy for the market, a sentiment echoed by Tan Su Shan [4]. Group 3: Broader Warnings - The warnings from Tan Su Shan align with similar cautions from the International Monetary Fund and central bank leaders regarding inflated stock prices [5].

Core Points - U.S. President Donald Trump indicated that trade talks with India are progressing positively, with a potential visit to India in 2026 if invited by Prime Minister Modi [2][3] - Recent tensions in U.S.-India relations have been attributed to steep tariffs, high fees for H1B visas, and India's oil purchases from Russia [3][5] - Ongoing negotiations may lead to a reduction in tariffs on Indian goods from 50% to 20%, aligning India more closely with other Asian countries [4] Trade Relations - The current tariff rate on Indian exports is 50%, which is higher than the 47% duties imposed on China [3] - Experts suggest that while tariffs may decrease, they are unlikely to reach the levels of Japan and South Korea, which are at 15% due to unresolved issues regarding Russian oil and agricultural imports [5] Oil Imports - Indian refiners have begun to reduce imports of Russian oil following U.S. sanctions on Russian oil companies, which will take effect on November 21 [5][6] - Russian oil is currently trading at significant discounts to Brent in Asia, influenced by the reduced purchases from major Indian and Chinese refiners [6] Long-term Outlook - Experts believe that completely phasing out Russian oil is not a realistic goal for India, as the economic benefits of discounted Russian crude may challenge India's current approach [7]

Core Viewpoint - Tesla is considering building a large semiconductor fabrication plant to meet its growing demand for chips driven by its ambitions in artificial intelligence and robotics [1][2]. Group 1: Semiconductor Fabrication Plant - Tesla's CEO indicated the necessity of a "gigantic" chip fabrication facility, referred to as a "Tesla terra fab," to achieve the required chip production volume [1][2]. - The initial capacity of the proposed fab could reach 100,000 wafer starts per month, with potential scaling up to 1 million wafer starts per month [3]. Group 2: Current Supply Chain and Demand - Currently, Tesla relies on contract manufacturers like Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung Electronics for chip production, but the supply is insufficient even under the best-case scenarios [2][3]. - The semiconductor industry is experiencing a surge in demand due to the AI boom, impacting all modern technologies, including automotive and robotics [2][4]. Group 3: Industry Context - TSMC's annual wafer production capacity is projected to reach 17 million in 2024, translating to approximately 1.42 million wafer starts per month, highlighting the scale of production needed by Tesla [3][4]. - Musk emphasized that advancements in AI and robotics could significantly enhance the global economy, potentially increasing it by factors of 10 or even 100, indicating the strategic importance of these technologies for Tesla's future [4].

Group 1: Job Market Trends - October's job losses in the U.S. were nearly twice as high as in September, marking the steepest decline for any October since 2003, with 33,281 cuts in the technology sector alone, almost six times the previous month's total [1] Group 2: Tesla and Elon Musk - Tesla CEO Elon Musk had a nearly $1 trillion pay package approved, contingent on meeting performance targets that include reaching an $8.5 trillion valuation, while Tesla's current market cap stands at $1.54 trillion [2] - The world's most valuable company is Nvidia, which briefly reached a $5 trillion valuation last Wednesday [2] Group 3: Tech Sector Performance - Following a slump in tech stocks, Nvidia's market cap decreased to $4.57 trillion, with other companies like Microsoft, Broadcom, and Palantir Technologies also experiencing declines due to concerns over high stock prices, contributing to a 1.9% drop in the Nasdaq Composite [3] - The volatility in tech stocks serves as a reminder of market fluctuations for tech workers and investors, contrasting with Musk's continued ascent [3]

Core Viewpoint - SoftBank Group's shares have resumed their decline, reflecting investor concerns over high valuations in the AI sector, leading to an over 8% drop in stock price [1]. Group 1: Stock Performance - After a previous session gain of nearly 3%, SoftBank's shares fell over 8% following a 10% plunge on Wednesday, marking the worst day since April [2]. - Other Japanese tech stocks also experienced declines, with Advantest down over 6%, Renesas Electronics down nearly 4%, and Tokyo Electron down 1.46% [2]. Group 2: Market Context - The decline in SoftBank's shares is part of a broader slump in AI-related stocks, as investors are becoming increasingly cautious about the sector's elevated valuations [1].

Market Overview - Asia-Pacific markets opened lower, influenced by declines in Wall Street due to concerns over high valuations in artificial intelligence stocks [1][2] - Major AI companies such as Nvidia, Microsoft, Palantir Technologies, Broadcom, and Advanced Micro Devices experienced significant share price declines [2] Regional Index Performance - Japan's Nikkei 225 index fell by 1.38% at the open, with AI-related stocks like SoftBank down nearly 8% and semiconductor companies like Advantest and Renesas Electronics also experiencing losses [3] - The Topix index decreased by 0.5%, while South Korea's Kospi and Kosdaq indices declined by 0.46% and 0.92% respectively [3] - Australia's S&P/ASX 200 index saw a decrease of 0.27% [3] Economic Indicators - Investors are anticipating China's October trade data, with expectations of a slowdown in exports to 3% year-on-year from 8.3% in September, and imports expected to fall to 3.2% from 7.4% [4] - The decline in trade figures is attributed to weak domestic demand, a prolonged housing slump, rising job insecurity, and the tapering of consumption-focused stimulus measures [4] Hong Kong Market Futures - Futures for Hong Kong's Hang Seng Index indicated a lower opening, trading at 26,436 compared to the previous close of 26,485.9 [5]

Market Overview - Wall Street is concerned about the prolonged government shutdown and the rapid expansion of artificial intelligence (AI) infrastructure, which is perceived as out of control [1][4] - Major stock indices closed lower, with the Dow Jones Industrial Average down 0.84%, the S&P 500 down 1.12%, and the Nasdaq Composite down 1.9%, marking its worst week since early April [2] Government Shutdown Impact - The federal government shutdown has reached its 37th day, the longest in U.S. history, resulting in hundreds of thousands of employees being furloughed or working without pay [3] - The shutdown has delayed critical economic data, leaving investors uncertain about the economy's health; job cuts in October reportedly reached their highest level in 22 years [3] AI and Data Center Concerns - Analysis from JPMorgan indicates that an AI and data center "blob" is increasingly affecting various sectors of the economy, raising concerns among investors [4] - OpenAI's commitment to spending billions on new technology has heightened fears, especially after comments from its CFO regarding potential government support for data center expansion, although she later denied the need for federal backing [4]