Interesting facts related to super computing while we wait for Nvidia.
In the 1st decade of the turn of the century the net gain of jobs in the US was zero.
To visualize the impact of disruptive technology, In the 19th century 50% of workers were employed on farms. By the year 2000 the number was 2%. This is an isolated sector. AI comprises all sectors.
The amount of data stored on the worlds computers is now believed to be over 1,000 billion gigabytes. AI is accelerating the ability of robotics to use that data to actually form perpetually stronger learning and reaction by the computers themselves far in advance of the speed of humans.
Oxford University projects that almost half of global jobs are likely to be replaced in roughly 20 years. That equates to 60 million jobs in the United States.
Here is why the FED (and other CBs) are NOT done keeping rates higher for longer as inflation is not yet working its downward pressure enough on the economy (ref Okun’s Law / “sacrifice ratio”) and therefore on employee snotty attitude
Gen Z turning down high-paying jobs for workplaces with perks
A look at the day ahead in U.S. and global markets from Mike Dolan
Nvidia’s post-bell earnings update on Wednesday is keeping stock markets everywhere in a holding pattern, while U.S. Treasury markets appear to be absorbing the latest torrent of debt sales quite comfortably.
Morning Bid: As Nvidia awaited, Treasuries absorb new deluge
EURUSD 4 HOUR CHART – Is the high in or just a retracement?
EUR has been a weak link as can be seen on its crosses, especially EURGBP.
The failure to retest 1.12 puts the downside at risk but only if it stays below 1.1150. A break of 1.1098 would negate this latest leg up.
Retracement levels–
‘
Using 1.1098-1.1201, 61.8% = 1.1137 (vs 1.1135 low)
1.1120 = 76.8%
All eyes will be on Nvidia reporting after the close.
NEW YORK, Aug 27 (Reuters) – Traders in the U.S. equity options market are expecting Nvidia’s (NVDA.O), opens new tab upcoming earnings report to spark a more than $300 billion swing in the shares of the world’s most dominant artificial intelligence chipmaker.
Nvidia results could spur record $300 billion swing in shares, options show
USDX 4 HOUR CHART – Head Fake
A bit of a head fake after yesterday’s weaker USD close that has so far failed to follow through.
Using USDX as a proxy for the EURUSD (57.6% of the index), the bounce off the 100.55 double bottom would need to get through 100.94 to suggest a pause and then through 101.57 to indicate the bottom is in place for now.
In EURUSD 1.1150 is the obvious bias setter.
© 2024 Global View