12th August 2022: Yesterday closed orders given +21.387%; US and EU economies recover their growth; Metavers market growth to be 40% annually until 2030; Brief overview of the stock market
Symbol: USOIL; Type: BUY; Open Price: 87.844; Close Price: 93.499; Profit: +6.048%.
Symbol: JPM; Type: BUY; Open Price: 107.94; Close Price: 119.71; Profit: +9.832%.
Symbol: UKOIL; Type: BUY; Open Price: 93.483; Close Price: 98.931; Profit: +5.507%.
US and EU economies recover their growth
On Friday, European stock markets ended with gains, marking the third consecutive progress session. The United States continued to report low inflation rates for consumer and production prices, which helped boost mood. The increase in industrial production in the Eurozone in June was three times more than was anticipated. The world’s largest online betting company announced that it anticipates a turnaround in the second part of the year, which caused shares of Flutter Entertainment to surge by 14.1%. According to data published by Eurostat, the development of industrial production in the Eurozone slowed in June due to the sluggish output of consumer products.
Despite the difficulties caused by rising interest rates and high inflation, the United Kingdom’s economy experienced a little decrease in output during the second quarter. According to findings from France’s statistics office INSEE, the nation’s unemployment rate unexpectedly rose over the three months ending in June, but only marginally.
Metaverse market growth is expected to be 40% annually until 2030
Amazon (AMZN), Apple (AAPL), Microsoft (MSFT), and Alphabet (GOOG) are only a few of the internet-related companies that belong to the ranks of the largest publicly traded corporations in the United States (AMZN). Additionally, between 2000 and 2021, it had a more than 30-fold rise in retail sales, going from $27.6 billion to $870.8 billion. The research company Grandview projects that the market for the metaverse in North America will be worth $15.1 billion in 2020 and will increase at a compound annual growth rate of 39.4% through the year 2030. Stagecraft is the name of the immersive environment that Industrial Light and Magic has been giving to customers. It takes the greenscreen technology previously only used in post-production and applies it to the real world.
The gadget measures the user’s motion along all three axes (left/right, up/down, and front/back). Oculus and other manufacturers of virtual reality headsets are transitioning away from LCD panels and toward OLED screens. Though headsets are getting more powerful, most of this increase is going toward providing positional telemetry, higher quality visuals, and improved sound processing rather than developing gaming or running programs. Consoles, personal computers, and, to a growing extent, data centers continue to be the devices and settings responsible for doing all the heavy work. Provision of storage and processing power by data centers is becoming increasingly common in recent years.
A digital universe in which virtual and augmented reality, often known as VR, interact with the actual world in several different ways is referred to as the metaverse. Roblox is a firm that will likely continue to have a great deal of success soon since it offers a development platform that allows any user to produce and monetize their own content. If users and developers are given a certain amount of storage space, bandwidth, and computing power, the assumption is that they will use all of those resources to their full potential, which will stimulate development and innovation. Once more headroom has been created due to the buildout, the cycle will begin again.
A brief overview of the stock market
The Nikkei was the best performer, gaining 2.62%. After the first half of the trading day, major market indices throughout Europe are showing gains across the board. The 4,300 level on the S&P 500 continues to act as a point of technical resistance for the stock market. The year-over-year growth rate of the UK’s GDP in the second quarter of 2022 was 2.9%, which was a significant slowdown from the preceding quarter’s 8.7% growth rate, but a little improvement over the 2.8% growth rate was anticipated. (Closes): Yesterday, natural gas prices in the United States reached their highest closing price since July 26, when they finished at $8.874/MMBtu. This was the highest closing price since the 26th of July.
The S&P 500 and the Dow finished the day with virtually identical results, with a loss of 0.07% and a gain of 0.08%, respectively. Shares of Olo Inc. dropped Wednesday night after the business reported mixed earnings for the June quarter but offered downward guidance for the current quarter and cut its estimate for 2022. Rivian Automotive (RIVN) posted a loss for its June quarter that was somewhat less than what was anticipated, while the company’s sales came in at $364,000. Rivian stated once again that their manufacturing goal for 2022 is 25,000 automobiles. The initial public offering of Forza X1 (FRZA) shares, a wholly-owned subsidiary of Twin Vee Powercats (VEEE), has been priced at $5.00 a share.
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