Biden backs Harris, Nvidia collaborates on AI chip for Chinese market, Chinese rate cut.

From Investing.com: 2024-07-22 04:27:08

1. President Joe Biden bows out of re-election race, backing Kamala Harris as a potential replacement.
2. U.S. stock futures rise after tech losses; Tesla and Alphabet to report earnings this week.
3. Nvidia developing AI chip for Chinese market, collaborating with Inspur on the “B20” chip.
4. People’s Bank of China cuts rates to boost the country’s economy amidst concerns over slowing growth.
5. Crude prices rise after Chinese interest rate cut, but Morgan Stanley predicts a return to surplus in the oil market next year.



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