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Investopedia
Watch These SoundHound AI Stock Price Levels Amid Large News-Related Moves
~2.2 mins read

SoundHound AI (SOUN) shares surged 21% on Thursday after the provider of voice generative artificial intelligence (AI) announced that it had acquired enterprise AI software firm Amelia for $80 million, a deal aimed at expanding its footprint in conversational AI across new verticals and brands.

However, the stock gave back 5% in extended trading after SoundHound reported its quarterly results. Although earnings and revenue both surpassed estimates, the company still posted a larger GAAP net loss in the period compared to a year earlier, possibly contributing to post-market weakness.

Below, we take a closer look at the technicals on SoundHound’s chart and point out important price levels to watch out.

Since recording their 2024 high in mid-March, SoundHound shares have oscillated within a descending triangle, a chart pattern consisting of one trendline connecting a series of lower highs and a second horizontal line connecting a series of lows. 

Although technical analysts typically consider descending triangles bearish, they can also signal the continuation of a move higher if formed following an uptrend, which is the case on the SoundHound chart. Moreover, the stock’s close Thursday above the 50-day moving average on the highest trading volume since mid-July favors an upside breakout. 

Looking ahead, investors should monitor three key higher price levels likely to gain attention.

Firstly, it’s worth watching if the shares can break out above the descending triangle’s top trendline, which currently sits around $5.75. A volume-backed move would likely act as a catalyst for further buying and could potentially trigger a short squeeze, given that more than 26% of the stock’s float is held in short positions.

Upon a breakout, the stock could test the $8.60 level, where sellers may be happy to book profits near a horizontal line connecting the June 2022 countertrend peak with a series of prices located around this year’s high.

A more bullish move may lead to a retest of the $15 area, where the shares would likely run into overhead resistance near a range of trading levels situated in close proximity to the SoundHound’s all-time high (ATH) set in early May 2022.

Despite the bullish technicals on SoundHound’s chart, investors should monitor the descending triangle’s lower trendline around $3.50. A breakdown below the pattern opens the door for falls to lower crucial support levels at $2.60 and $1.60.

After the 21% jump during Thursday's regular session, SoundHound shares fell 5% to $4.95 in after-hours trading.

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Instablog9ja
Businessman Fumes After His Bestie Was Kicked Out Of A Job Interview Over Her Look.
~0.5 mins read

A Nigerian businessman has taken to X to share the story of his friend who lost out on a job she applied for, after going for the interview in an outfit that was ‘’disgusting” to the chairman of the company.

According to the X user, the young lady had applied to be the personal assistant to the CEO of an oil firm. He said she had scaled the first interview and that it was before the second interview that she got disqualified on the grounds of her ‘’appearance.” He said the chairman of the company found her multiple piercings, leg chain and outfit which showed her panty lines disgusting.

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Investopedia
Fed Official Says Economy Showing Strength, No Need To Rush Interest Rate Cut
~1.7 mins read

Faced with persistent inflation and a resilient labor market, one Federal Reserve official said the central bank still had time to evaluate economic conditions before moving to cut interest rates. 

Speaking Thursday on a National Association of Business Economists webcast, Richmond Fed President Tom Barkin said economic conditions still showed strength and didn’t warrant a quick reaction from the central bank to cut interest rates.

After a weak July jobs report last Friday sent markets reeling, investors and economists questioned whether the Fed should act more aggressively on interest rate cuts. The Fed's policy committee opted last week to leave the influential fed funds rate unchanged at its highest level since 2001, though Fed Chair Jerome Powell did say the committee could start easing policy as soon as September.

Barkin said there were two cases where the Fed would need to respond quickly with interest rate cuts, one being a quick rise in unemployment, the other being a faster drop in inflation, neither of which was occurring. 

He also said that while recent inflation data was looking better, with the latest reports showing price pressures easing across more parts of the economy, forecasts don’t have inflation moving much lower from current levels over the rest of the year. 

“Are you ready to declare victory on inflation or would like to see a little more? That’s one part of the question,” Barkin said. 

Additionally, Barkin said that neither data nor conversations with employers in his district indicated that mass layoffs were imminent. Barkin pointed out that data showed “cautious” businesses had slowed hiring, but they weren’t firing either. 

“You’ve got some room to see more on the labor side, you’ve got room to see more on the inflation side,” Barkin said, noting that Fed officials will get several more pieces of economic data before its next meeting on Sept. 17-18. “It made sense to me to take the time and learn whatever we learn over the next seven weeks.”

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Investopedia
Wall Street Bonuses Could Be Set To Grow This Year As Deals Rebound
~1.1 mins read

Wall Street bonuses could be set to rise this year, with debt and equity underwriters likely to see the biggest boosts as deals rebound, according to a report from compensation consulting firm Johnson Associates.

The projected gains come after a lackluster two years for bonuses in financial services, with little to no growth for many professionals after end-of-year incentives exploded in the low-interest-rate environment of 2021 with strong client demand and record activity in the market for initial public offerings (IPOs). 

The projected growth follows strong performance from markets in the first half of the year, a rebound in IPO activity, and signs of investors showing greater risk tolerance, among other factors.

Compared to other professionals in financial services, debt underwriters could see the biggest bonus growth of up to 35% this year, the report said, followed by equity underwriters at 30%.

After underwriters, hedge fund, equity sales and firm management professionals could see bonus growth of up to 15%, thanks to strong performance across business segments and investors’ willingness to take on additional risk.

Meanwhile, the retail and commercial sector could see incentives stay flat or fall amid a decline in commercial lending levels.

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Favoursplashy

HOW TO PREPARE YUMMY PLANTAIN PORRIDGE
~1.2 mins read

INGREDIENTS
  • Plantain(ripe/unripe)
  • Fresh tomatoes
  • Yellow scotch bonnet pepper
  • Red scotch bonnet peppper
  • crayfish powder
  • Chefbass Multipurpose spice
  • onions
  • palmoil
  • Seasoning cube
  • salt
  • Smoked/Dryfish
  • Scent leaf
  • Ugu leaf

  • PROCEDURE:
    Peel,wash and cut your plantain to preferred size
    blend/grate your tomatoes and pepper(blend your crayfish also if you don't have already blended one)
    chop your onions
    pick,wash and cut your vegetables
    ready other ingredients
    In a clean pot on fire,add your oil and allow to get hot,turn in your onions and fry till translucent
    once that is ready,add your blended tomatoes and pepper and fry till dry(once the oil starts bubbling and the sauce comes together you know it's dry).
    once well fried till dry,add your Smoked/dry fish,crayfish, seasoning cube, any spice of your choice and salt,stir fry for another 2_3 mins then add in your plantain
    Give this a quick mix to pull all ingredients together and add water.
    (if you are cooking ripe plantain,the water should be on same level with your plantain,cover and let cook till done)
    (if you are Cooking unripe plantain,the water should be 1 inch above the quantity of the plantain in your pot,cover and let cook till done)
    once your plantain is done,stir well but gently to mix all ingredients together then check for taste and adjust if necessary
    add your preferred vegetable,stir properly and turn off the heat
    the heat from your plantain will steam the vegetable more and you don't get to eat an over cooked vegetable.

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    Favoursplashy

    AFANG SOUP RECIPE
    ~1.3 mins read

    MAIN INGREDIENTS:
    Afang /okazi leaf ( 3 bunches or more )
    Water leaf ( 4 big bunches )
    Meat ( of choice )
    Dried or smoked fish ( of choice )
    Cow skin ( kpomo )
    Stock fish ( 1 big sized )
    Shelled Periwinkles ( 1 cup )
    Palm oil ( 5 cooking spoon or more )
    Red or yellow fresh pepper
    Crayfish ( 1 ground cup )
    Stock cubes ( to taste )
    Salt ( to taste )

    PROCEDURE FOR COOKING:
    Firstly, you make sure that everything is neatly ready

     1: Steam the meat with pepper, stock cubes, salt and when it is almost done, add in the dry/smoked fish, stock fish and other proteins.
      Cook until all are properly cooked, remove the dry fish and set aside, if only, you don't want it to disintegrate/scatter in the soup.
    NOTE: Little water should be used to steam the various proteins Remember not to add water yet as waterleaf can boil and bring out water..
     2: Add In the meat stock, add in the shelled periwinkles, ground crayfish and ground peppers and allow to boil for 1 minute.
     3: Add in the palm oil and allow to boil on medium heat for 6 to 8 minutes.
    NOTE: This step is optional, you can add the palm oil at the end of the cooking of the soup, that is after step 5.
    NOTE: The Palm oil should almost be the only liquid in this soup.
    4: Now add in the sliced water leaf and leave to boil for 3 to 5 minutes on low heat.
    5: You can now add in the removed steamed fish into the cooking soup and allow to boil for 1 minute.
    6: Finally add in the blended/ground/pounded Afang leaf into the cooking soup and leave to boil for 1 - 2 minutes.
    NOTE: The Afang leaf is what is used to thickening this soup.
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