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Most Gulf stock markets tumbled as the dollar, oil and gold fell



Most Gulf stock markets tumbled as the dollar, oil and gold fell

Most Gulf stock markets tumbled as the dollar, oil and gold fell

Most Gulf stock markets fell, and the U.S. dollar, gold and oil indices fell, while Eurozone bond yields rose, with U.S. yields hitting their highest level in 15 years.

In the Gulf, most stock markets ended lower as investors were disappointed by recent stimulus measures in China, and Qatar’s index suffered the biggest losses.

China’s central bank cut its one-year lending rate by 10 basis points to its five-year benchmark, surprising analysts who had expected a 15 basis point cut for both.

Qatar’s index fell more than 1% as most stocks fell in the index, including Qatar Islamic Bank, which fell 2.1%. The Saudi index pared its early gains to a 0.8% decline, and oil major Saudi Aramco fell 1.6%.

The Abu Dhabi index fell 0.3%. However, the Dubai index bucked the general trend, registering a 0.1% gain, while shares of the emirate’s largest bank, “Emirates NBD Bank”, gained 1.2%.

Brent crude futures were down 34 cents, or 0.4%, at $84.46 a barrel, while U.S. crude futures were down 53 cents, or 0.65%, at $80.72.

dollar and major currencies

In the foreign exchange market, the dollar retreated to a two-month low today after five consecutive weeks of gains as risk in Europe improved.

The dollar index, which measures the U.S. currency against six other major currencies, fell 0.2% to 103.18 in recent trade, but it is nearing its two-month high of 103.68 hit last Friday.

The Australian dollar hit $0.642, and the New Zealand dollar hit $0.5926, nearing 9-month lows they hit last week.

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The yuan fell above 7.3 to the dollar before moving higher. The euro was up 0.3% at $1.0906 and the British pound was slightly higher at $1.2756. The Swiss franc rose to 0.8793 against the dollar last week, hitting a 6-week low.

The Russian ruble also fell below 94 against the dollar, but its trade saw relative stability after one of the most volatile weeks of the year, leading to a recovery after a sudden 12% interest rate hike broke the $100 mark.

Russia’s central bank raised interest rates by 350 basis points after the ruble hit a 17-month low of 101.75 per dollar on Monday. The currency touched a two-week high of 92.55 on Thursday.

More European and US bonds

In addition, yields on government bonds in the eurozone rose sharply on Monday, with US Treasury yields rising to a 10-year high and a 15-year high, supported by expectations of continued interest rate hikes over the long term.

US 10-year Treasury yields rose to 4.35%, adding upward pressure on eurozone bond yields.

Germany’s 10-year Bund yield rose 8 basis points to 2.7% on the day, from 2.729% last week, its highest level since hitting 2.77% in early March.

Italian 10-year bond yields rose nearly seven basis points to 4.39%.

Data released earlier in the day showed producer prices in Germany fell more than expected in July, primarily due to lower energy prices.

The German central bank has forecast that Europe’s largest economy will return to relative stagnation in the current quarter.

Germany’s GDP stagnated in the second quarter after falling in the previous two quarters as the country was hit by rising energy prices, high borrowing costs and the weak performance of the economy of China, Germany’s main trading partner.

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Gold and precious metals

In the metals market, gold hit a 5-month low on Monday as higher Treasury yields pressured the yellow metal, as investors focused on this week’s meeting of central bankers in Jackson Hole, Wyoming. Expectations for the economy and interest rates.

Gold was down 0.1% at $1887.09 an ounce in spot trading by 14:29 GMT. US gold futures remained flat at $1916.

The 10-year U.S. Treasury yield rose to 4.3379%, the highest level since October.

Gold fell to its lowest level since mid-March, hitting $1883.7 last week, after optimistic economic data boosted bets that US interest rates will continue to rise for a longer period of time.

As for other precious metals, silver spot contracts were up 1.1% at $22.94, platinum was down 0.5% at $905.48 and palladium was down 1.8% at $1233.1.

Global stock indices

The US “Nasdaq” index rose more than 1% today Monday, the “Standard & Poor’s” index rose 1.9%, while the “Dow Jones” industrials fell 0.25%.

European shares rose in late trade, with gains in energy and mining stocks and gains in global commodity prices ending a four-day losing streak, while Danish pharmaceuticals (Novo Nordisk) eked out gains in the healthcare sector.

The European STOXX 600 index rose 0.1% and rose 0.9% during intraday trading. It closed at a 6-week low on Friday.

The Japanese “Nikkei” index ended higher, ending a 0.37% trading gain, ending a 3-day losing streak. The broad topics index rose 0.17%.

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4 new AI tools you can use to edit photos on Instagram



4 new AI tools you can use to edit photos on Instagram
As part of Meta’s Connect conference last Wednesday, Mark Zuckerberg revealed several creative AI features that will be useful for some content creators and influencers. For example, users will be able to use Meta’s AI technology, revealed as Emu. In the Instagram app.

Zuckerberg said Meta will begin rolling out these photo-editing and generative AI tools to Instagram “in about a month,” and Meta’s Emu technology will take seconds to generate images, Zuckerberg said during the Connect conference.

In addition to photo editing tools, Meta is already releasing AI stickers that use Emu and Llama 2 technology, and advanced applications of AI will soon appear in Meta apps in the form of chatbots or AI-powered assistants. Meta will begin testing the beta feature immediately.

Here’s a full rundown of the new AI features Meta brings to Instagram:

– New photo editing tools in the Instagram app:

Like many apps and generative AI filters that are ubiquitous on TikTok, Instagram is adopting its own generative AI tools. Users can also edit photos by “re-styling”, which changes the artistic style of the photo, similar to altering the photo. A watercolor, or “background,” that allows users to replace the background of the image with an illustration.

Any image edited using these tools “represents the use of artificial intelligence,” Mitta wrote in a blog post.

– AI-generated stickers for use in direct messages:

Instead of sticking with Instagram’s existing preloaded stickers or emojis, Meta is rolling out a new tool that lets users create unique stickers using AI. Meta wrote in his blog post that the feature will be rolling out to “select English users next month.”

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AI stickers are also available in Instagram features like Live Messages and Stories, and other apps like WhatsApp, Messenger and Facebook’s Stories feature.

– Interactive AI bots – or characters:

In addition to its general AI assistant called “Meta AI,” Meta is working with celebrities and influencers to develop 28 AI chatbots. The first cast uses celebrities and popular influencers like Tom Brady and Kendall Jenner. MrBeast, LaurDIY, and Charli D. Amelio and the AI ​​characters will have their own profiles on Instagram and Facebook.

– Creators will be able to build their own robots in the future:

“We’re building a platform to build AI that can help you do things or have fun,” Zuckerberg said. “The way it works is that people can interact with these AI systems across the entire product universe. .”

Zuckerberg pitched these AI bots as a potential way for creators to “engage” with their communities. The creator of these bots should be “authorized” and “directly controlled,” Meta wrote in a blog post. Already, many startups have released AI tools. Similar applications allow creators to create AI versions such as Afterparty or Render Media.

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Inflation in the euro zone fell to its lowest level in a year



Inflation in the euro zone fell to its lowest level in a year

Economic data released today on Friday showed that the euro zone’s core inflation rate fell to its lowest level in nearly a year this month, bolstering expectations that the European Central Bank will keep interest rates on hold at its next meeting to assess. The consequences of an unprecedented campaign to raise interest rates throughout the past.

European statistics agency Eurostat reported today that sales, excluding highly volatile items such as food and energy, fell to 4.5% this September, while analysts polled by Bloomberg News had expected a drop of 4.8%, compared with 5.3%. In the month, in the past.

At the same time, the headline inflation rate eased to 4.3% this month from 5.2% last August, the lowest level in nearly two years and well below expectations, thanks to a fall in energy prices. Accelerating rate of rise in prices of services.

The data released today is a strong indication that core inflation, a key measure for the central bank’s monetary policymakers, is on a downward path following a period of statistical deterioration over the summer months.

Despite the decline, general and core inflation rates have been more than twice the central bank’s target of 2% annually.

At the same time, there is a wide disparity in inflation rates between the euro zone’s twenty member states, with the inflation rate in Germany falling to its lowest level in two years this month, while the rate in Spain rose by more than 3. % again.

The current September consumer price inflation rate showed a new decline, reaching its lowest level in more than a year and a half, with the Italian statistics office saying the inflation rate fell to 5.3 for the current month. % y/y compared to 5.4% last month, while the core inflation rate, excluding highly volatile food and energy prices, fell to 4.6% this month, down from 4.8% last month.

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Meta unveils new artificial intelligence products



Meta unveils new artificial intelligence products

Mark Zuckerberg, CEO of MetaPlatforms, has introduced a group of new products powered by artificial intelligence, including smart glasses that can answer questions and broadcast live on Facebook, as well as “bot” programs to create images and an advanced headset for virtual reality. .

Zuckerberg described the products as bridging the virtual and real worlds, and asserted that low-cost or free artificial intelligence in what Meta offered could be integrated into daily routines.

The MetaQuest virtual reality headset is one of the most popular in the burgeoning virtual reality industry, and company executives described it as the best value in the industry, marking the imminent launch of an expensive headset from Apple.

Speaking from the central courtyard at Meta’s sprawling campus in Silicon Valley, Zuckerberg said Meta’s new generation of Ray-Ban smart glasses will launch on October 17 for $299.

The device will have a new assistant from Meta that works with artificial intelligence and will be able to live-stream what the user sees on Facebook and Instagram, a feat compared to the previous generation’s ability to take pictures.

Earlier during the presentation, Zuckerberg said that the latest mixed reality headset (Quest) will start rolling out on October 10.

Zuckerberg’s statements came at the MetaConnect conference, the social media company’s biggest event of the year and the first to be held in person since the start of the Covid pandemic.

It launched the first consumer-oriented generative artificial intelligence products, in which a chatbot (meta AI chatbot) can generate text responses and realistic images.

Zuckerberg emphasized: “It’s not just about answering inquiries. It’s about helping people do things for entertainment and interacting with the people around you.”

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