4: Please carefully look at the Table of results from my own published research article entitled "Intraday seasonalities and macroeconomic news announcements" that I have shared with you on the course page in Moodle. This article measures the effect of various US macroeconomic news announcements on the returns of four European stock indexes namely CAC40 (France), FTSE100 (UK), SMI (Switzerland) and DAX30 (Germany). Please answer the following questions: (4 points) 1) How is this article related to the Efficient Market Hypothesis? 2) Why do we have a positive and significant coefficient for "industrial production" and a negative significant coefficient for "unemployment rate"? 3) Why, as shown by the results in this article, the US macroeconomic indicators affect the European stock index returns? 4) Why is the intraday data (such as 5- minute interval) important to analyze the impact of macroeconomic indicators on stock returns?