S&P 500 lows? We ain’t seen nothing yet, says Gundlach – MarketWatch

It’s a risk-on for Hump Day, but blink and you’ll miss it. Take a stroll around Wall Street or go to the bathroom and you could miss it.

That’s because stocks are prone to shilly-shallying these days, though fresh trade optimism could put a stop to all that.

Even hedge fund pioneer Paul Tudor Jones thinks 2019 may be better for traders than long-term investors, as he told a conference earlier this week that could turn into “just an enormously volatile period with a lot of back and forth.” Covering pretty much all the bases, the ‘87 crash predictor also forecast a 15% move either way from here for stocks.

There may be a little more conviction in our call of the day, from DoubleLine founder Jeff Gundlach, who told clients Tuesday evening that the S&P 500 could take out February’s 2018 low due to a growth slowdown hitting company profits.

“Many equity markets are down over 20%, which some people call a bear market,” Gundlach said in his latest webcast, according to Reuters. “I don’t really define bear markets as a certain fixed arbitrary percentage. I think of it more as mood. And certainly, the setup for the equity markets looked like a bear market going into the middle of this year…the global equity market which is strongly in a bear market at the present time.”

Bottom line, his mood is still bearish, considering he warned us in November that stocks still hadn’t hit a “panic low.” Some in Twitterland credited Gundlach for stirring up some action on S&P 500 futures overnight:

But what next for 2019 remains a pretty good question, especially if only the day traders are going to get anything out of it, if Tudor Jones is right.

Last word goes to Michael O’Rourke, JonesTrading’s chief market strategist, who says the “hollow victories” markets have been carving out go beyond trade and tariffs, and are more about “global superiority.”

“Therefore, it is better to be patient and wait for a resolution, or for the market to re-rate to a lower level where attractive valuations merit the risk. Despite the numerous headwinds facing the equity market right now and for the foreseeable future, the S&P 500 is only down 1.4% year to date,” he says.

Last, last word goes to Reddit, where this reader wants to know why it’s “safe” to assume stocks will rise over the next 40 years. He gets plenty of answers.

The market

Dow

YMZ8, +0.88%

S&P 500

ESZ8, +0.88%

 and Nasdaq

NQZ8, +1.06%

 futures are riding higher. That’s after volatile action Tuesday that ended with modest losses for the S&P

SPX, -0.04%

 and Dow

DJIA, -0.22%

 and slight gains for the Nasdaq

COMP, +0.16%

Crude

CLF9, +1.92%

was well up ahead of supply data, while the dollar

DXY, -0.20%

is steady, but watch the pound

GBPUSD, +0.7687%

 as U.K. Prime Minister Theresa May could be toppled within hours in a confidence vote over her Brexit plan.

Check out the Market Snapshot column for the latest action.

Europe

SXXP, +1.29%

 is moving up nicely and the Nikkei

NIK, +2.15%

 helped lead a big bounce in Asia.

Read: Will EU treat Italy more leniently as France’s Macron risks breaching fiscal rules?

The quote

Daniel Burke

Jack Bogle

“Investors are not paying nearly enough attention to the risks that could affect our markets: an unstable U.S. federal government, a Brexit debacle, and a U.S. stock market that remains at relatively high valuations.” — That was Vanguard’s 89-year old founder and investing legend Jack Bogle, in an interview with Financial News.

The chart

Our chart of the day offers a glimpse of what a tough year it’s been for the oil market, compliments of Barclays. In their 2019 outlook, analysts predict oil WTI will average $65 a barrel, about a 23% jump from current levels. Brent is forecast to rise to $72, which is just over $10 higher from current levels.

“Given our expectation of OPEC+ producer reductions and a new phase of Iran waivers by May, we believe that prices will rebound in December and next year,” says a team of analysts led by Michael Cohen.

The buzz

Huawei’s CFO Meng Wanzhou was granted bail by a Canadian judge on Tuesday after more than a week in detention, though she has to foot the bill for a security detail, wear a monitoring device and surrender passports. In an interview with Reuters, POTUS said he’d intervene on her behalf if it means saving a trade deal.

Read: How one investor’s Amazon misfire led to a 99% loss in his trading account

LionAir says it’s getting ready to scrap $22 billion in Boeing

BA, -1.32%

orders, over dissatisfaction in how the airline handled the crash of a 737 Max jet that killed all 189 aboard.

Chinese government spies weren’t only behind a Marriott

MAR, -0.70%

 cyberattack, but went after health insurers and security clearance files of millions of Americans, says a new report.

Chinese music streamer Tencent Music

TME, +0.00%

 will make its U.S. debut later, after pricing its IPO at the low end of forecasts.

Reddit co-founder Alexis Ohanian tells MarketWatch about his biggest money mistake, and what he thinks about frequent-flier miles

On the economic front, consumer prices are ahead, along with Federal budget data later.

Random reads

A gunman who killed three at a Christmas market in Strasbourg, France, remains at large

What we Googled in 2018

It’s sentencing day for Michael Cohen

3-year old faces Christmas in hospital after pharma giant won’t budge on drug

A 4.4 magnitude quake rattled eastern Tennessee early Wednesday

Nothing sacred in Seth Meyer’s Christmas “Ya Burnt” special

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Google CEO Had To Explain To Congress Why Googling ‘Idiot’ Shows Donald Trump – HuffPost

Search for the term “idiot” on Google and several photographs of President Donald Trump will appear high in the image results.

On Tuesday, the search engine giant’s CEO Sundar Pichai had the task of explaining to members of Congress why that happens during a hearing in front of the House Judiciary Committee.

Pichai refuted Rep. Zoe Lofgren’s (D-Calif.) tongue-in-cheek suggestion that it was down to “a little man sitting behind the curtain” who was skewing the results against conservatives — saying the company doesn’t “manually intervene” in searches.

“We provide search today for any time you type in a keyword. We, as Google, have gone out and crawled and stored copies of billions of their pages in our index, and we take the keyword and match it against the pages and rank them based on over 200 signals,” Pichai explained.

“Things like relevance, freshness, popularity, how other people are using it. And based on that, you know, at any given time, we try to find the best results for that query,” he added, during the hearing that also threw up several other self-owns for lawmakers.

Read More

China Trade, Theresa May, Nvidia and Tencent Music – 5 Things You Must Know – TheStreet

Here are five things you must know for Wednesday, Dec. 12:

1. — Stocks Rise on Trump’s Comments About China Trade Discussions

U.S. stock futures rose on Wednesday, Dec. 12, and global stocks traded higher as investors cheered progress in U.S.-China trade talks but kept a watchful eye on developments in the United Kingdom, where Prime Minister Theresa May faced a leadership challenge that could deepen the country’s political crisis.

Contracts tied to the Dow Jones Industrial Average rose 178 points, futures for the S&P 500 gained 19.50 points, and Nasdaq futures jumped 61.50 points.

Donald Trump told Reuters he was pleased with the early progress in trade talks with Beijing, and said he would be prepared to meet with Chinese President Xi Jinping if it would bring the sides closer to a comprehensive agreement. He also said he was willing to intervene in the legal proceedings surrounding Huawei Technologies Co. Chief Financial Officer Meng Wanzhou, who was granted bail in Canada Tuesday but still faces extradition to the United States on charges she helped the company evade sanctions on Iran.

“If I think it’s good for the country, if I think it’s good for what will be certainly the largest trade deal ever made – which is a very important thing – what’s good for national security – I would certainly intervene if I thought it was necessary,” Trump said in an interview with Reuters in the Oval Office.

Trump’s comments, as well as the bullish sentiment linked to a report that China was ready to slash tariffs on U.S.-made cars – which Trump appeared to confirm – lifted stocks in Asia and boosted European shares on Wednesday.

Sentiment was capped, however, by concerns that Britain’s Brexit crisis could claim the country’s top politician, as members of the ruling Conservative Party vote later Wednesday in a leadership challenge to May.

The economic calendar in the U.S. on Wednesday includes the Consumer Price Index for November at 8:30 a.m. ET. Economists surveyed by FactSet expect no change for CPI in November vs. a 0.3% increase in October. Core CPI, excluding food and energy, is expected to rise 0.2%.

The calendar also includes Oil Inventories for the week ended Dec. 7, at 10:30 a.m.

Earnings reports are expected Wednesday from Vera Bradley Inc. (VRA) and Nordson Corp. (NDSN) .

2. — SoftBank Reportedly Plans Sale of Nvidia Stake

Shares of Nvidia Corp.  (NVDA)  rose 1.4% in premarket trading, rebounding from Tuesday’s 2.4% decline after Bloomberg reported that SoftBank Group Corp. (SFTBY)  was planning to sell its stake in the giant chipmaker.

SoftBank owned roughly 4.4% of Nvidia through its Sb Investment Advisers as of the end of September, according to FactSet, with the stake currently worth about $4 billion. SoftBank hasn’t disclosed how much of Nvidia it wants to sell, or even if it will sell its entire stake, according to Bloomberg.

Nvidia has declined about 23% this year. Fears of slowing demand for chips have hurt not only Nvidia but the entire semiconductor industry. Nvidia missed estimates in its quarter ended in November, as TheStreet’s Jim Cramer had predicted, partly due to slowing demand from cryptocurrency miners.

Meanwhile, Nvidia insiders have been shedding some of their positions in the company. Insiders have sold 178,000 shares in the last few months, according to FactSet, with CEO Jensen Huang having sold 41,000 shares over that time.

3. — Tencent Music’s IPO Is Priced at Low End of Range

Tencent Music Entertainment Group’s initial public offering was priced at $13 per American depositary share, at the low end of the expected range of $13 to $15 a share.

At $13, the Chinese music-streaming raised roughly $1.1 billion for the company and its selling shareholders, The Wall Street Journal reported.

Tencent Music is valued at $21.3 billion on a fully diluted basis, according to Dealogic, making it one of the largest traditional IPOs by market value in the U.S. since Alibaba Group Holding Ltd. (BABA) went public in 2014 at $169.4 billion, according to the Journal.

Tencent Music, a part of Tencent Holdings Ltd. (TCEHY) , will begin trading on the New York Stock Exchange on Wednesday under ticker symbol “TME.” 

4. — China Hackers Behind Massive Marriott Breach – Report

The cyberattack on the Marriott International Inc. (MAR) hotel chain that collected personal details of about 500 million guests was the work of Chinese hackers, The New York Times reported.

The Chinese intelligence-gathering effort also hacked health insurers and the security clearance files of millions more Americans, the Times reported, citing two people briefed on the investigation.

The hackers, the people said, are suspected of working on behalf of the Ministry of State Security, the country’s Communist-controlled civilian spy agency. The discovery comes as the Trump administration is planning actions targeting China’s trade, cyber and economic policies, perhaps within days, the Times noted.

5. — American Eagle Slumps on Weak Holiday Forecast

American Eagle Outfitters Inc. (
AEO)  fell 4.9% in after-hours trading on Tuesday after the clothing and accessories retailer issued a weak holiday forecast.

The company reported third-quarter net income of 48 cents a share, which met analysts’ estimates. Revenue of $1 billion, however, came in under expectations of $1.02 billion. Comparable-store sales also missed estimates, rising 8% but below forecasts of 8.5%.

For the fourth quarter, American Eagle said it expects earnings of 40 cents to 42 cents a share, below Wall Street estimates of 47 cents.

Read More

Tesla sues its alleged saboteur for $167 million – Engadget

Tripp’s lawyer Robert D. Mitchell, who described the amount Tesla is demanding as “absurd,” told CNBC:

“The purported damage amount claimed by Tesla relates to supposed dips in Tesla’s stock price by virtue of the information Mr. Tripp provided to the press last summer.”

In the automaker’s original lawsuit, the company said Tripp “admitted to writing software that hacked Tesla’s manufacturing operating system and to transferring several gigabytes of Tesla data to outside entities.” Leaked emails between Musk and Tripp showed how an exchange between them turned increasingly ugly, with each one calling the other a “horrible human being.”

The former employee, who used to work as a process engineer at Tesla’s Gigafactory, filed a complaint of his own with the Securities and Exchange Commission in June. He accused Tesla of making “material omissions and misstatements” to investors as well as of putting cars with safety issues on the road. Tripp also tweeted photos of what he said were images showing Tesla’s flawed manufacturing practices and handling of scrap at the lithium battery factory. The company denied Tripp’s claims, telling Engadget that the former employee “does not even have personal knowledge about the safety claims that he is making.”

Read More

Dow futures jump more than 200 points, cheered by Trump’s trade talk – CNBC

U.S. stock index futures were higher Wednesday amid renewed optimism around the possibility of a permanent U.S.-China trade deal being struck.

Dow Jones Industrial Average futures rose 232 points, indicating a gain of 267.76 points. Futures on the S&P 500 and Nasdaq 100 were also seen relatively upbeat.

Optimism around trade lifted shares of Caterpillar and Boeing by more than 1 percent each before the bell. These stocks are seen as bellwethers for global trade because of their exposure to markets abroad.

In an interview with Reuters on Tuesday, President Donald Trump said he would intervene in the Justice Department’s case against a top executive at Chinese telecoms giant Huawei if it would help serve national security interests or help U.S.-Sino trade talks. Huawei is the one of the largest tech companies in China. It is also seen as a symbol of pride by the Chinese government.

The moves in premarket trade come after Trump said talks between Washington and Beijing were ongoing and confirmed he would not raise tariffs on Chinese imports until he was sure about a comprehensive trade agreement.

They also come after multiple reports pointed to China cutting tariffs on U.S.-made cars. A U.S. official told Reuters China indicated it will lower the tariffs, but the U.S. would wait on formal documentation and timing.

Wall Street had another wild session on Tuesday, with the Dow swinging more than 500 points before closing slightly lower.

“This intraday volatility is very headline-driven,” said Mona Mahajan, U.S. investment strategist at AllianzGI. “Between trade, the Federal Reserve and recession fears, it’s reason to give investors pause.”

“Investors are also more willing to sell rallies than buy dips. That’s the sentiment right now,” Mahajan said.

Read More

Amazon Web Services Launches New Region in Sweden – Business Wire

SEATTLE–()–Amazon Web Services, Inc. (AWS), an Amazon.com company (NASDAQ:AMZN),
today announced the opening of the AWS Europe (Stockholm) Region. With
this launch, AWS now provides 60 Availability Zones across 20
infrastructure regions globally, with another 12 Availability Zones and
four regions in Bahrain, Hong Kong SAR, Italy, and South Africa all
coming online by the first half of 2020. The AWS Europe (Stockholm)
Region is AWS’s fifth in Europe, joining existing regions in France,
Germany, Ireland, and the UK. Tens of thousands of customers across the
Nordics – Denmark, Finland, Iceland, Norway, and Sweden – already use
AWS. Starting today, developers, startups, and enterprises, as well as
government, education, and non-profit organizations can leverage the new
AWS Europe (Stockholm) Region to run their applications in Sweden, serve
end-users across the Nordics with lower latency, and leverage advanced
technologies such as analytics, database, mobile services, serverless,
and more, to drive innovation. Customers can get started today at: https://aws.amazon.com/local/nordics/

“Since the early days of AWS, Nordic organizations have been using AWS’s
cloud technologies to help reinvent entire industries, such as Supercell
and Rovio in gaming, Scania and Volvo in automotive, and Nokia and
Telenor in telecommunications,” said Andy Jassy, Chief Executive
Officer, Amazon Web Services. “Tens of thousands of Nordic customers
have been using AWS from regions around the world, but many have shared
that they also wanted an AWS Region in the Nordics so they can easily
operate their most latency-sensitive workloads for end-users in the
Nordics while meeting any data sovereignty requirements. We’re excited
to deliver our AWS Stockholm Region today to meet these customer
requests.”

The AWS Europe (Stockholm) Region offers three Availability Zones at
launch. AWS Regions are comprised of Availability Zones, which are
technology infrastructure in separate and distinct geographic locations
with enough distance to significantly reduce the risk of a single event
impacting business continuity, yet near enough to provide low latency
for high availability applications. Each Availability Zone has
independent power, cooling, and physical security and are connected via
redundant, ultra-low-latency networks. AWS customers focused on high
availability can design their applications to run in multiple
Availability Zones to achieve even greater fault-tolerance.
Additionally, local AWS customers with data residency requirements can
now store their content in Sweden with the assurance that their content
will not move without consent, while customers building applications
that comply with the General Data Protection Regulation (GDPR) now have
access to another secure AWS infrastructure region in the European Union
(EU) that meets the highest levels of security, compliance, and data
protection.

Customers and APN Partners welcome the new AWS Europe (Stockholm)
Region

Millions of active customers are using AWS each month in over 190
countries around the world, including hundreds of thousands of customers
in Europe, and tens of thousands of customers in the Nordics.
Organizations across the Nordics are moving their mission-critical
workloads to AWS to drive cost savings, accelerate innovation, and
speed-up time-to-market, including enterprise customers such as Aktia
Bank, Arriva, ASSA ABLOY, Bonnier, Basware, Cargotec, Den Norske Bank,
F-Secure, Finnair, Fortum, Gelato, Husqvarna, Icelandair, IKEA, Modern
Times Group, Nokia, Scania, Schibsted, SOK, Stockmann Oyj, Telenor
Connexion, Telia, Tine SA, TopDanmark, Unibet, Visma, Volvo Group
Connected Solutions, Wireless Car, Wärtsilä, and XXL. AWS is also an
enabler for the Nordics’ most successful startups and gaming companies
such as Bambora, Evolution Gaming, Hemnet, iZettle, KRY, LEO Innovation
Lab, Lingit, Lunar Way, Mapillary, Mathem, Mojang, Paradox Interactive,
Quinyx, Rovio, Supercell, Tidal, Trustpilot, Tink, and Vivino. Public
sector customers, such as VR (Finnish Rail), the government-owned
railway in Finland, and Ambita, owned by the Norwegian Ministry of Trade
and Industry and Norway’s largest portal for property data, are also
moving the majority of their on-premises applications to AWS to take
advantage of the increased reliability and security to deliver a better
service to citizens.

Volvo Group Connected Solutions, headquartered in Gothenburg, Sweden, is
responsible for developing and delivering connected solutions within the
Volvo Group – one of the world’s leading manufacturers of trucks, buses,
construction equipment, and marine and industrial engines. The Volvo
Group employs approximately 100,000 people, has production facilities in
18 countries, and sells its products in more than 190 nations. AWS is
the preferred cloud provider for Volvo Group Connected Solutions,
allowing them to connect more than 800,000 assets all over the world,
including trucks, busses, and construction equipment. “AWS has
transformed how we run as a business, helping us move to a micro service
architecture and run infrastructure as code, which has increased
automation across the organization,” said Stefan Berggren, VP of
Technology at Volvo Group Connected Solutions. “Since moving the
development of our applications to AWS, we have increased agility and
speed and reduced the amount of time it takes to go from idea to
experimentation from weeks to minutes. As you can imagine, latency is
also vital when connecting vehicles and delivering a broad range of
connected services to our customers. We look forward to using the new
AWS Europe (Stockholm) Region because it will bring our services even
closer to our customers.”

Fortum is a leading power and utilities provider, headquartered in
Finland, with more than 2.5 million customers, 9,000 employees, and
operates over 150 power plants across 10 countries. Together with
thousands of customers, Fortum has built a one-megawatt Virtual Battery,
the largest in the Nordics, which is fully operated on top of AWS. The
Virtual Battery aggregates and controls usage of energy assets, like
household water heaters and electric vehicles, helping Fortum to better
balance energy usage across the grid. “With the elasticity and almost
infinite storage capacity that AWS delivers, we are able to analyze more
data than the entire Finnish smart metering infrastructure combined,
resulting in better understanding how our customers use electricity,”
said Per Edoff, Chief Digital Officer, Fortum. “Collecting this data on
AWS gives us the ability to efficiently address electricity demand and
production, helping us reduce costs, ultimately delivering these savings
back to our customers in the form of lower energy bills. Additionally,
we have been using the Amazon Elasticsearch Service to securely build a
data lake. Using machine learning to get more insights from our data, we
will be able to extract better understanding of energy usage, helping
our customers to save money and helping us to improve our impact on the
environment through more advanced scheduling of when we turn our power
plants on and off. Now that the new AWS Europe (Stockholm) Region is
open we expect to see this innovation accelerate.”

Financial services customers throughout the Nordics also entrust AWS
with mission-critical workloads. Norway’s largest financial services
group, Den Norske Bank (DnB), with over three million customers, has
chosen AWS as its primary cloud provider, dedicating an entire floor at
their Bergen headquarters to work on AWS projects to modernize the
banking experience. “We welcome the opening of the new AWS Europe
(Stockholm) Region. We really like the benefits of being able to
innovate within the cloud because it allows us to scale at a faster
pace, while enjoying the security, reliability, and agility that AWS
provides,” said Alf Otterstad, Chief Information Officer at DnB. “AWS
has been a strategic partner for us and we already have more than 30
development projects in the works dedicated to delivering a better
banking experience to customers. One example is how, using AWS, we
introduced a chatbot to provide better service to our more than three
million customers. Today, 50 percent of all incoming queries are
automatically handled by the chatbot, which is managing an average of
30,000 conversations a week. This solution has reduced our costs and
given us a stable and scalable solution for customer service, which
wouldn’t have been possible without AWS.”

Public sector customer VR (Finnish Rail) is the government-owned railway
company in Finland, operating over 250 long distance and 800 commuter
rail services every day, across nearly 6,000 kilometers of track. VR is
moving its website and all travel applications from its on-premises
infrastructure to AWS by the end of 2019, a journey that is already
one-third complete. “Using AWS, gives us access to a vast number of
features and services, across compute, storage, artificial intelligence,
and machine learning, enabling our developers to quickly experiment,
develop, test, and deliver personalized services for each one of our
customers,” said Annika Nordbo, Data and Analyst Manager at Finnish
Rail. “With AWS technologies we have accelerated the speed in which we
can experiment and deliver services, reducing the time it takes to get
new features into the hands of travelers from days to minutes. This time
efficiency has also turned into cost efficiency, as we have reduced
costs by more than 50 percent since moving to AWS in 2017. We are
looking forward to utilizing the new AWS Region in Stockholm to further
improve our customers’ travel experiences by bringing our applications
and workloads closer to end users.”

Many Nordic startups are using AWS to rapidly scale, including KRY,
which is revolutionizing healthcare by enabling doctors and
psychologists to conduct video consultations through users’ smart
phones. KRY was able to use the security and compliance capabilities
that AWS provides to customers to quickly launch their business, and by
using machine learning tools on AWS, they are able to better identify
patients’ conditions and connect them to the doctor with the right
expertise. “We needed a cloud provider that enabled us to support our
rapid expansion so we went all-in on AWS,” said Johannes Schildt, CEO of
KRY. “With over 500,000 registered users seeking care, we need the
security, reliability, and healthcare compliant services that AWS
provides. AWS also helps us to provide better care to our end users.
Using AWS Lambda for rapid integration of data and Amazon Redshift for
scalable data transformation, we developed and launched a forecasting
tool in less than a month. The forecasting tool uses historical customer
information and can predict patient demand down to the hour, enabling us
to appropriately staff our clinics, and improve operations by at least
20 percent.”

Another startup using AWS to securely and reliably provide confidential
services to end users across the Nordics is Danish financial services
company, Lunar Way. Lunar Way provides a free mobile banking app which
lets users open a bank account, receive a debit card, get real-time
transaction feeds of their spending, view transactions by shopping
category or retailer, and helps people better set savings goals and pay
bills. “Three years ago we set out to change the way people relied on
financial institutions, working to meet the need of a generation that
has grown up with everything on their mobile – being all-in on AWS
allowed us to do that,” said Ken Villum Klausen, CEO of Lunar Way. “With
AWS we have been able to quickly scale up or down to meet customer
demand, and we have seen a growth rate of 15 to 20 percent month over
month. AWS delivers unrivaled security and hardware that is compliant
out of the box, which has been paramount for us to quickly launch our
business and provide our customers with peace of mind that their
finances will be secure with our app. Having an AWS Region in the
Nordics will open up the opportunity for us to expand further into
Sweden and continue to maintain the highest levels of security for our
regulated workloads.”

AWS
Partner Network
(APN) Partners welcomed the arrival of the AWS
Europe (Stockholm) Region. The APN includes tens of thousands of
Independent Software Vendors (ISV) and Systems Integrators (SI) around
the world with APN participation among Nordic-based entities growing
significantly over the past 12 months. APN Partners build innovative
solutions and services on AWS and the APN helps by providing business,
technical, marketing, and go-to-market support. SI Consulting Partners
supporting enterprise and public sector customers in the Nordics to
migrate to AWS include Accenture, Atos, Basefarm, Capgemini,
CloudPartners, Crayon Group, Cybercom, Deloitte, Digia, DXC, Eficode,
Enfo Group, Evry, GoFore, Jayway, Nordcloud, Pearl Consulting, Proact IT
Group, Solita, Telia Inmics-Nebula, Tieto, Webscale, Webstep, Wipro, and
many others. AWS ISVs in the Nordics including Basware, eBuilder,
F-Secure, Queue-it, Xstream, and many others, are already using AWS to
deliver their software to customers around the world and will serve
their Nordic customers from the AWS Europe (Stockholm) Region at launch.
Customers can also easily find, trial, deploy, and buy software
solutions for AWS on the AWS
Marketplace
. For the full list of the members of the AWS Partner
Network, please visit: https://aws.amazon.com/partners/.

Cybercom, a longtime AWS consulting partner, also welcomed the opening
of the new AWS Europe (Stockholm) Region. Cybercom is dramatically
increasing their focus on AWS, launching an AWS Business Group and
growing the number of certified AWS consultants from 80 to 500 in the
next three years. “We have already seen a rapid increase of customers
moving critical workloads to AWS and an AWS Region located in Sweden
will only accelerate this growth,” said Niklas Flyborg, CEO of Cybercom
in Sweden. “For us, an AWS Region in the Nordics is a game-changer. AWS
is our preferred cloud provider and we have already closed down our own
data center and moved most of our applications onto the AWS Cloud. Now
with an AWS Region on Swedish soil, we don’t see the need for any
Swedish companies to own and operate their own server hardware.”

Investing in the Future of the Nordics

As a company, AWS is committed to making a positive impact in the
communities where its employees live and work. To support this
commitment, AWS is launching an AWS Hackathon for Good program in the
Nordics. With this program, AWS will work with organizations across the
Nordics to identify societal issues where technology can provide
solutions, and organize hackathons in their favor. The first AWS
Hackathon for Good will happen in the first half of 2019 and AWS will
collaborate with the Keep Sweden Tidy Foundation during their Nordic
Coastal Cleanup Day. Last year, over 40,000 people in Denmark, Finland,
Greenland, Iceland, Norway, and Sweden helped clean up the coasts,
removing nearly 2,000 kilograms of litter. AWS will invite developers
across the Nordics for a 24-hour hackathon event where they will be able
to connect and collaborate with peers, work on real challenges for Keep
Sweden Tidy, get expert help from AWS solution architects, and utilize
the broad scope of services and features offered by the AWS Europe
(Stockholm) Region, with the aim of providing Keep Sweden Tidy and the
Nordic Coastal Cleanup Day with technology solutions that could improve
litter removal along the Nordic coastlines. AWS Hackathon for Good
contributions will be graded by AWS and will look at the quality of
implementation, the technological choices, and overall execution towards
a solution. The winning contribution will get support in terms of AWS
technical expertise and AWS Cloud Credits to help implement the solution
for Keep Sweden Tidy. More information about the AWS Hackathon for Good
and the Nordic Coastal Cleanup Day will be available closer to the
event, through the AWS website.

To help grow the next generation of Nordic enterprises, AWS supports
startups in cities across the Nordics. In 2013, AWS launched the AWS
Activate program
 to provide Nordic startups access to guidance and
one-on-one time with AWS experts as well as web-based training,
self-paced labs, customer support, third-party offers, and up to
$100,000 in AWS Cloud Credits – all at no charge. In 2018, AWS launched
the first Pop-Up Loft in Stockholm, offering a co-working space and
access to technology and business experts to support the growth of
Nordic startups. This is in addition to the work that AWS already does
with the Venture Capital community, startup accelerators, and incubators
to help startups grow in the cloud. Across the Nordics, AWS works with
Atomico, Creandum, EQT Ventures Nordic Makers, Northzone, and SUP46 in
order to support the rapid growth of their portfolio companies.

AWS is also continuing to invest in the upskilling of local developers,
students, and the next generation of IT leaders in the Nordics through
programs such as AWS Academy and AWS Educate. For students, the AWS
Educate program
provides access to AWS services and content designed
to build knowledge and skills in cloud computing. Dozens of universities
and business schools in the Nordics already participating in the program
include Swedish institutions Abb Industrigymnasium, Berzeliusskolan,
Blekinge Tekniska Högskola, EC Utbildning Malmö, and Jönkoping
University; Denmark institutions AARHUS Tech, Mercantec, Roskilde
University, and Technical University of Denmark; Finland institutions
Åbo Akademi University, Häme University of Applied Sciences (HAMK), JAMK
University of Applied Sciences, Tampere University of Applied Sciences,
and University of Helsinki; and Norway institutions Norwegian University
of Science and Technology, Oslo Metropolitan University, and the
University of Tromsø – The Arctic University of Norway. Another program
for higher education institutes is AWS
Academy
, which provides AWS-authorized
courses for students to acquire in-demand cloud computing skills. In the
Nordics, major institutions taking part include HAMK Häme University of
Applied Sciences, MDH – School of Innovation, Design and Engineering,
Metropolia University of Applied Sciences, and Uppsala
Universitet/Matematiska Institutionen. AWS also offers a
full range of training and certification programs
to help those
interested in the latest cloud computing technologies, best practices,
and architectures to advance their technical skills and further support
Nordic organizations in their digital transformation.

Developers and businesses can access the AWS Europe (Stockholm) Region
beginning today. A full list of services and details on pricing is
available at https://aws.amazon.com/local/nordics/.

About Amazon Web Services

For over 12 years, Amazon Web Services has been the world’s most
comprehensive and broadly adopted cloud platform. AWS offers over 125
fully featured services for compute, storage, databases, networking,
analytics, robotics, machine learning and artificial intelligence (AI),
Internet of Things (IoT), mobile, security, hybrid, virtual and
augmented reality (VR and AR), media, and application development,
deployment, and management from 60 Availability Zones (AZs) within 20
geographic regions, spanning the U.S., Australia, Brazil, Canada, China,
France, Germany, India, Ireland, Japan, Korea, Singapore, Sweden, and
the UK. AWS services are trusted by millions of active customers around
the world—including the fastest-growing startups, largest enterprises,
and leading government agencies—to power their infrastructure, make them
more agile, and lower costs. To learn more about AWS, visit
aws.amazon.com.

About Amazon

Amazon is guided by four principles: customer obsession rather than
competitor focus, passion for invention, commitment to operational
excellence, and long-term thinking. Customer reviews, 1-Click shopping,
personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle
Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa
are some of the products and services pioneered by Amazon. For more
information, visit amazon.com/about and follow @AmazonNews.

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