SA: Saudi Arabia plans to pour $40bn into AI technology – report
SEEKING ALPHA reports: Saudi Arabia is apparently creating a fund worth about $40B to invest in ...
SEEKING ALPHA reports:
The energy sector (XLE -3.4%) returns to the bottom of the S&P sector standings as crude oil prices come under pressure, with November WTI (CL1:COM) -5.1% to $38.53/bbl and plunging below its 200-day moving average $39.62/bbl.
There’s no obvious catalyst behind today’s sharp move, but persistent demand concerns stemming from the pandemic are outweighing hopes for a new U.S. stimulus package.
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Now read this: “Thousands of jobs face axe as Shell goes green“.
And this: “Bad news piles up for ECB as deflation in Germany hits five year high“.
Later today: “Trump-Biden debate could be ‘important catalyst’ for investors, Goldman says, but stocks may be stuck in ‘fat and flat’ range“.
(… and on 2 October the week closed with: “September payrolls adds disappoint at 661K, but August revised higher, unemployment rate falls to 7.9%” + “Markets revert to classic risk-off moves: at the open” + “S&P closes tumultuous day off lows and up for the week” + “The election is not the biggest Q4 risk: according to one bank, it’s this“.)
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Alex Lennane
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