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AI Wobble Leaves US 100 Sentiment on a Knife Edge

Its already been a tough start to the week for technology stocks in the US 100 index as traders reacted negatively on Monday to the shock proposal made over the weekend by influential Anthropic CEO Dario Amodei, who urged the AI industry to slow the development of its most advanced models in order for adequate guardrails to be put in place, comments further supported by Sam Altman of OpenAI and Elon Musk. The fallout saw chipmaker stocks within the US 100, leading the index down from a close at 29370 on Friday to a low of 28804 yesterday afternoon, a drop of 1.9% before some fresh demand resurfaced. Chipmakers were hit especially hard on concerns that a slowdown in AI development could lead to a reuction in AI capital expenditure which has been the major factor driving their value to numerous record highs. If this wasn’t enough of a challenge for stock traders to negotiate this week, sentiment remains on a knife edge ahead of the Federal Reserve (Fed) interest rate decision, which is due for release on Wednesday at 1900 BST. Economists and investors are divided on whether the Fed decides to hike rates for the first time in 2026 to stem the immediate threat from rising inflation or keep rates unchanged to allow policymakers to analyse another month of key data readings. As a rule, Fed rate hikes tend to weigh on technology/growth stocks in the US 100 index as it makes borrowing more expensive. Whatever the Fed decides, the press conference, which commences at 1930 BST on Wednesday, could also be a volatility flashpoint for US 100 prices, as traders respond to Fed Chair Kevin Warsh’s comments on inflation and future rate moves into the end of 2026. Technical Update: Decision Making Process Develops: The technical picture for the US 100 index continues to reflect an uncertain sentiment backdrop, with the latest upside recovery failing at 30246 (August 17th high), still well below the June 1st all-time high at 30656. Some traders may view this price action as a weak test of the previous 30656 extreme, which could be a negative for future directional moves. https://www.tradingview.com/x/rH3YO4dj/ However, as the chart above shows, since mid‑August prices have traced out a period of sideways movement between 28873 (August 24th low) and 29749 (August 28th high). This type of more balanced activity may be viewed as a decision‑making process, with a closing breakout from the price range required to suggest where the next directional risks could lie. Potential Support Levels: With 28873 (August 24th low) potentially marking the lower extreme of the current sideways trading range, this level may be viewed as the first key support. Closing breaks below 28873, if seen, could develop the possibility of negative momentum reemerging. https://www.tradingview.com/x/rH3YO4dj/ Closing breaks below 28873 could suggest the decision‑making process has been resolved to the downside, resulting in further price weakness and tests of support at 27050 (July 29th low). Closing breaks below 27050 could open potential for moves toward 26714 (50% Fibonacci retracement of the March 31st to June 1st strength), even 25830 (61.8% retracement). Potential Resistance Levels: Currently the sideways price range still remains intact, with the upper extremes potentially marked by resistance at 29749 (August 28th high). Therefore, if this sideways activity is to be resolved in a positive way, it may be reflected by closes above 29749, which could lead to further attempts at price strength. https://www.tradingview.com/x/rH3YO4dj/ Closes above 29749, if seen, could lead to further price upside momentum to challenge the August 17th high at 30246. If this level were also broken on a closing basis, price moves could extend toward the June 1st all‑time high at 30656. The material provided here has not been prepared accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.

TITradingView Ideas15 Sept

Musk Drops Apple Lawsuit Over ChatGPT Siri Deal, Keeps Suing OpenAI

Elon Musk's companies X Corp and SpaceXAI today asked the court to dismiss their claims in a lawsuit filed against Apple in 2025, reports Reuters . There was no explanation for the dismissal request or mention of a settlement. The filing also does not ask for the dismissal of claims against OpenAI. Plaintiffs have resolved their claims in this Action against Defendant Apple Inc. ("Apple"). Plaintiffs accordingly move under Federal Rule of Civil Procedure 41(a)(2) to dismiss with prejudice their claims against Apple. Apple does not oppose this Motion. For the avoidance of doubt, Plaintiffs do not seek to dismiss any of their claims against Defendants OpenAI Foundation (f/k/a OpenAI, Inc.); OpenAI, L.L.C.; and OpenAI OpCo, LLC. A dismissal with prejudice will prevent the claims from being refiled in the future. The lawsuit accused Apple and OpenAI of conspiring to "ensure their continued dominance" in the AI market. The lawsuit suggested Apple was "blindsided by major innovations in AI," leading it to team up with OpenAI in a "desperate bid to protect its smartphone monopoly." Musk's companies complained that Grok did not have the same level of iOS integration as ChatGPT did through Siri , and accused Apple of deprioritizing the apps of competing generative AI chatbots and X in the App Store . The lawsuit asked for billions in damages for Apple's alleged stifling of AI industry innovation. Apple said it was "widely known that [it] intends to partner with other generative AI chatbots" in the future, and said the claims were based on "speculation on top of speculation." Apple asked the court to dismiss the lawsuit back in October, but the request was denied. Tags: ChatGPT , Elon Musk , Apple Lawsuits , OpenAI , Siri This article, " Musk Drops Apple Lawsuit Over ChatGPT Siri Deal, Keeps Suing OpenAI " first appeared on MacRumors.com Discuss this article in our forums

MacRumorsMacRumors•Juli Clover14 Sept

SpaceX Turns Turbine Maker as Musk Warns of Years-Long Equipment Shortage

Elon Musk recently warned that “turbines are sold out through 2030,” saying SpaceX and Tesla would probably need to make turbine blades and vanes internally. SpaceX is preparing a factory in Bastrop, Texas, to tackle that casting bottleneck, and Musk says bringing production in-house could get gas turbines online up to 18 months sooner. This is where it becomes important to be specific as to which type of turbines he is referring to… POWER Magazine reports that data center operators are pairing industrial boilers with steam turbines…

OilPrice.comOilPrice.com•OilPrice.com14 Sept

Australia’s outdated technology is vulnerable to AI hacking attacks, signals chief says

Abigail Bradshaw says ‘enormous’ amounts of money required to update systems that people now expect to be constantly available Get our breaking news email , free app or daily news podcast One of Australia’s top intelligence agencies has warned that AI attacks could exploit the country’s old technology, as the government negotiates its guardrails on artificial intelligence’s rapid development. The chief of Anthropic, developer of Claude, has warned AI bots could swarm the internet within a year and called to “slow the pace” of development with support from the head of OpenAI and Elon Musk . Continue reading...

The GuardianThe Guardian•Luca Ittimani14 Sept