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Morning Bid: Gold makes the running as oil fails to fire
  + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com   time to read: +3 min
Oil failed to sustain an early rally that followed news of attacks on commercial shipping in the Red Sea. Notably, oil prices lost early gains and Brent eased around 57 cents to $78.31 a barrel amid doubts that OPEC+ would be able to maintain planned output cuts, particularly by some African countries. At the same time, U.S. oil output is at record levels above 13 million barrels a day and rig counts are still rising. A commodity faring better is gold, which surged suddenly this morning to top $2,111 an ounce for the first time before paring the gains to $2,086. Yields on U.S. two-year notes rose almost 4 bps, but that follows a drop of 40 bps last week.
Persons: Alexander Manzyuk, Wayne Cole, Treasuries, Yemen's, Brent, Bundesbank, Christine Lagarde, Bonds, Goldman Sachs, Anna Breman, Riksbank, Edmund Klamann Organizations: REUTERS, Bulls, ECB, Thomson Locations: Novosibirsk, Siberian, Russia, Wayne, Red, U.S, Saudi Arabia
Asia shares turn mixed, gold tops $2,100 an ounce
  + stars: | 2023-12-04 | by ( Wayne Cole | ) www.reuters.com   time to read: +5 min
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was still up 0.4%, led by gains in South Korea and Australia. Trade figures for China are due later in the week with the recent trend being softening exports to the U.S. overshadowing gains in Asia. S&P 500 futures dipped 0.1%, after finishing at a 20-month high on Friday, while Nasdaq futures lost 0.2%. The dive in yields and the dollar has been a boon for non-yielding gold, which added 0.9% to $2,088 an ounce, after hitting a record of $2,111.39 an ounce . Oil prices have not been so fortunate, amid doubts OPEC+ will be able to maintain planned output cuts.
Persons: Goldman Sachs, Jerome Powell, Claudio Irigoyen, Joachim Nagel, Christine Lagarde, Brent, Wayne Cole, Sam Holmes Organizations: Nikkei, payrolls Shipping, Japan's Nikkei, FTSE, Nasdaq, Federal Reserve, Bank of Japan's, European Central Bank, ECB, Sea, Thomson Locations: Red Sea, SYDNEY, U.S, Israel, Red, Asia, Pacific, Japan, South Korea, Australia, China, Canada
A 2010 survey, called “My Daddy’s Name Is Donor” and funded by the Institute for American Values, a conservative group, claimed that many donor-conceived children felt hurt and isolated by their origins. The study wasn’t peer reviewed, and other research has showed that donor-conceived children generally do as well as their peers. They say this creates the possibility of conflicts between how teenagers define their families and how their parents do. Lowering the age “leaves family more legally vulnerable,” says Courtney Joslin, a law professor at the University of California, Davis. “And it impacts both the social perception of the family and maybe how kids and parents see each other.”
Persons: , Douglas NeJaime, , ” Malina Simard, Simard, Halm, Levy, ’ ” Simard, Courtney Joslin, Davis Organizations: Yale, Institute for American, University of California Locations: Halm
Amazon Web Services unveiled Q, its business-focused generative AI chatbot, last week. Q was designed to be a more reliable alternative to consumer-focused AI chatbots. AdvertisementAmazon's Q , the AI chatbot for workers its cloud division unveiled on Tuesday, appears to have a few issues. It's not uncommon for generative AI chatbots to falter. It wasn't long after Microsoft released its consumer-focused generative AI assistant, Sydney, that it went viral with its own hallucinations .
Persons: , Slack, it's, It's Organizations: Amazon Web Services, Service, Microsoft Locations: Sydney
Some Amazon Web Services employees are concerned about a large number of departures among its senior engineers. At last month's internal staff meeting for AWS, VP of infrastructure services Prasad Kalyanaraman answered an employee question about turnover among senior engineers, according to a transcript of the meeting obtained by Business Insider. It is one of the many challenges AWS employees are currently dealing with, alongside slowing growth and a more bureaucratic culture, as BI previously reported . As we've previously told Insider, attrition among AWS employees has declined in recent years and to suggest anything otherwise is inaccurate. Amazon unveiled Amazon Q this week, an AI chatbot for businesses, and previously launched CodeWhisperer, a coding assistant for developers.
Persons: Prasad Kalyanaraman, Kalyanaraman, Rob Munoz, we've, Prasad, Munoz, Peter DeSantis, DeSantis, Charlie Bell, Rachel Thornton, Chris Vonderhaar Organizations: Web Services, Business, Amazon's, AWS
When it was first launched, OpenAI leaders framed it as a "low-key research preview." AdvertisementChatGPT turned one today, and if you're surprised by its impact, you're not alone — so are some OpenAI employees. Today, the term "low-key research preview" has become something of a meme among OpenAI's employees. OpenAI employees have even used the phrase as laptop stickers, per the Atlantic. "The outside world probably thinks we're all joking, but this actually was our 'low-key research preview,'" wrote Fedus.
Persons: ChatGPT, , OpenAI, Google's Bard, Goldman Sachs, Greg Brockman, William Fedus Organizations: Service, UBS, Meta, Bloomberg
Asia shares start Dec on cautious note, oil nurses losses
  + stars: | 2023-12-01 | by ( Stella Qiu | ) www.reuters.com   time to read: +4 min
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.5% after a surge of 7.3% last month, the most since January. The Federal Reserve's preferred gauge of inflation - the personal consumption expenditures (PCE) price index - stood unchanged for October, while consumer spending also pulled back. Fed funds futures imply rate cuts of 115 basis points. The yield on 10-year Treasury notes slipped 3 basis points in Asia to 4.3264%, on top of a plunge of 52.2 basis points for the month. Two-year Treasury yields fell 4 basis points to 4.674%.
Persons: Tyrone Siu, sharemarkets, HSI, Rodrigo Catril, Jerome Powell's Q, Waller, Robert Carnell, Christopher Waller, Treasuries, Stella Qiu, Jamie Freed Organizations: REUTERS, Tyrone, Rights, Japan's Nikkei, National Australia Bank . Regional, Federal, Traders, ING, Fed, South Korean, Philippine, Brent, West Texas, Thomson Locations: Exchange, Hong Kong, China, Europe, U.S, Asia, Pacific, Japan, South
Vice Chairman of Microsoft Brad Smith looks on during the 5th Summit of "Christchurch Call", at the Elysee Presidential Palace in Paris, France November 10, 2023. LUDOVIC MARIN/Pool via REUTERS/File Photo Acquire Licensing RightsLONDON, Nov 30 (Reuters) - The president of tech giant Microsoft (MSFT.O) said there is no chance of super-intelligent artificial intelligence being created within the next 12 months, and cautioned that the technology could be decades away. Reuters last week exclusively reported that the ouster came shortly after researchers had contacted the board, warning of a dangerous discovery they feared could have unintended consequences. However, Microsoft President Brad Smith, speaking to reporters in Britain on Thursday, rejected claims of a dangerous breakthrough. Asked if such a discovery contributed to Altman's removal, Smith said: "I don't think that is the case at all.
Persons: Microsoft Brad Smith, LUDOVIC MARIN, Sam Altman, Brad Smith, It's, Smith, ” Smith, Martin Coulter, Sharon Singleton, Mark Porter Organizations: Microsoft, Reuters, Thomson Locations: Christchurch, Elysee, Paris, France, Britain
Sen. Tommy Tuberville signaled that he's ready to end his blanket blockade of military promotions. His move came as senators, including Republicans, were ready to change the rules to stop him. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSen. Tommy Tuberville on Thursday signaled that he is done running defense on his blanket move to block all military promotions, an unprecedented position that some of his Republican colleagues were turning against. Schumer said he was worried by the precedent of treating military promotions akin to political or judicial nominations.
Persons: Sen, Tommy Tuberville, Tuberville, , servicemembers, it's, Dan Sullivan, Joni Ernst of Iowa, Chuck Schumer, Tuberville's, Charles Q, Schumer Organizations: Service, CNN, Texas Tech, Cincinnati, Alabama Republican, Democratic, Army, Navy, Republican, Joint Chiefs, Staff Locations: Alaska
Nov. 30 marks ChatGPT's one-year anniversary, and quite a lot has changed since the popular AI chatbot debuted. As the ways people utilize the AI chatbot have changed, the technology itself has evolved too. Now, users are able to subscribe to ChatGPT Plus, which provides access to OpenAI's most up-to-date AI chatbot, ChatGPT-4. In February, Google announced its own AI chatbot called Bard. In November, Amazon unveiled its AI chatbot, Q.
Persons: chatbot, OpenAI, Greg Brockman, ChatGPT, Sam Altman, Altman, It's, What's Organizations: UBS, Microsoft, Google, YouTube, Amazon Locations: Brooklyn, New York, ChatGPT
AdvertisementIn today's big story, we're looking at the growing tension at AWS with rising employee burnout. Just like OpenAI's ChatGPT or Google's Bard, Amazon Q is a generative AI chatbot users can talk to like a human. Amazon Web Services, which developed Amazon Q, announced the new product under the fanfare of its annual event in Las Vegas, AWS re:Invent. Business Insider's Eugene Kim, our resident Amazon expert, has a report on the growing tension and burnout among AWS employees. Jon Krause for InsiderThe burnout at AWS reminds me of another company at the top of its field facing turmoil: Goldman Sachs.
Persons: , you've, Taylor, Pena Popo, Noah Berger, Bard, Insider's Eugene Kim, ChatGPT, Jon Krause, Goldman Sachs, Goldman, David Solomon, haven't, BI's Dakin Campbell, Bethany McLean, Goldman aren't, Goldman's, Sylvain Gaboury, Patrick McMullan, Slaven, The New York Times Elon Musk, Tesla, They've, Joe Santagato, Elon Musk, Drazen, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Spotify, Getty, Web Services, Microsoft, Goldman, Slaven, The New York Times, Amazon, Business, American Express, Federal, Paris, Paralympic, Kroger, Dell Locations: Las Vegas, Austin , Texas, New York City, San Diego, London, New York
Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.
Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China
Morning Bid: Treasuries on cusp of best month since 2008
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +3 min
Let's start with Treasuries because, if this were sports, we'd be calling it a comeback for the ages. Now, with some encouraging hints from Fed officials, 10-year notes are poised to celebrate their best month since the 2008 global crash, with yields down 61 basis points for November so far. Yields on two-year paper are down 31 bps just this week, the steepest drop since the U.S. mini-banking crisis in March. The European Union has inflation data of its own later on Thursday and analysts suspect the risks are for a downside surprise following subdued readings from Germany and Spain. The dollar index looks set for its worst month since November last year, with a loss so far of 3.7%.
Persons: Kevin Lamarque, Wayne Cole, Let's, we'd, Governor Waller, dovishness, Powell, Williams, Lagarde, Greene, Governor Bunge, Edmund Klamann Organizations: U.S . Treasury, REUTERS, Fed New, European Union, China PMI, BoE Monetary, CPI, PPI, Chicago PMI, Thomson Locations: Washington , U.S, Wayne, U.S, Germany, Spain, China, BoE, EU, Chicago
In recent years, L.G.B.T.Q. people in Russia have lived under increasing fear as the Kremlin has ratcheted up measures curtailing gay and transgender rights in tandem with the repressive search for “internal enemies” during the war in Ukraine. In the latest threat, the Ministry of Justice will seek a court order on Thursday to declare the international gay rights movement an “extremist organization.”Gay rights activists and other experts say that a ruling in favor would put gay people and their organizations under the threat of being criminally prosecuted at any time for something as simple as displaying the rainbow flag or for endorsing the statement “Gay rights are human rights.”That prospect has heightened angst and alarm in the country’s already beleaguered gay communities. “It is not the first time we are being targeted, but at the same time, it is another blow,” said Alexander Kondakov, a Russian sociologist at University College Dublin, who studies the intersection of law and security for the L.G.B.T.Q. “You are already marked as foreign, as bad, as a source of propaganda, and now you are labeled an extremist — and the next step is terrorist.”
Persons: , Alexander Kondakov Organizations: Ministry, Justice, ” Gay, University College Dublin Locations: Russia, Ukraine, Russian
The economy was even hotter in the third quarter than initially believed, according to an update Wednesday from the Bureau of Economic Analysis. Increased investment and government spending drove the higher estimate. in 3Q23, up from initial estimate of +4.9% … personal consumption revised lower while business investment revised higher,” Liz Ann Sonders, chief investment strategist at Charles Schwab, posted on social media. “Ultimately, excess savings accumulated during the pandemic helped boost consumer spending and delay the onset of recession,” BCA Research wrote on Wednesday. “However, the tailwind from excess savings is ebbing.
Persons: ann, Liz Ann Sonders, Charles Schwab, Consumers, Monday’s Organizations: Gross, BEA, , Federal Reserve Bank, Atlanta’s, Research, San Francisco Fed, BCA, Federal Reserve, Fed Locations: 3Q23, U.S
For Amazon, AWS is more important than ever. Targets missedAWS is falling short of reaching sales goals in its startups and small-business segments, two employees told BI. Burnout and attritionSeveral AWS employees also pointed to high turnover as a major point of concern. AWS employees told BI it still remains to be seen how all these changes will manifest in the months to come. "The most significant single sentiment we feel is uncertainty," one of the AWS employees told BI.
Persons: Matt Garman, Garman, Mark Shmulik, Bernstein, Rob Munoz, Munoz, Charlie Bell, Rachel Thornton, Chris Vonderhaar, Peter DeSantis, DeSantis, Andy Jassy Mike Blake, AWS's, Prasad Kalyanaraman, Kalyanaraman, Amazon's, Bard, Adam Selipsky, Adam Selipsky Noah Berger, Selipsky, Andy Jassy, Jeff Bezos, Jassy, Geekwire Organizations: Amazon Web, AWS, Business, Amazon, SMB, Enterprise, Reuters, Microsoft, Google, BI Locations: Las Vegas, AMZN's, billings
During the Amazon Web Services cloud conference on Tuesday, Amazon unveiled upgraded AI chips, a new chatbot and an expanded partnership with Nvidia. Expanded Nvidia partnership Amazon on Tuesday outlined the details of its deepening partnership with semiconductor firm Nvidia – the global leader in the development of AI chips. Amazon's announcements involved not only Nvidia' bread-and-butter AI chips known as graphics processing units, or GPUs, but also its fast-growing – yet still underappreciated – software-and-service offerings. In general, Amazon has touted its own AI chips as being a lower-cost option for customers. Nvidia's AI hardware is known to carry a hefty price tag .
Persons: Grace Hopper Superchip, , Jensen Huang, Jim Cramer's, Jim Cramer, Jim, Arjun Kharpal Organizations: Nvidia, Services, Amazon, Microsoft, Oracle, JMP Securities, CNBC, IAA, Qualcomm, Samsung Locations: Munich
Amazon unveils Q, its AI chatbot for workers
  + stars: | 2023-11-28 | by ( Aaron Mok | ) www.businessinsider.com   time to read: +2 min
Amazon's cloud division has just unveiled Amazon Q, its AI chatbot for workers. Amazon Q aims to help workers draft emails, write blogs, summarize reports, and troubleshoot bugs. AdvertisementThere's yet another generative AI chatbot on the market — this time from Amazon. On Tuesday, Amazon Web Services, the retail giant's cloud division, unveiled Amazon Q, its generative AI chatbot that can be tailored specifically to a business, according to Amazon's press release. Marketing professionals, project managers, and sales representatives at companies that use AWS can prompt Amazon Q to draft emails, summarize reports, and write blog posts, according to Amazon.
Persons: , Slack, Q, Adam Selipsky, OpenAI, Bard, Amazon's chatbot Organizations: Service, Amazon, Web Services, Google, Microsoft, Amazon Web Services, New York Times
The tech giant said Tuesday it will launch Q — a business chatbot powered by generative artificial intelligence. San Francisco startup OpenAI’s release of ChatGPT a year ago sparked a surge of public and business interest in generative AI tools that can spit out emails, marketing pitches, essays, and other passages of text that resemble the work of humans. Amazon said Tuesday that Q can do things like synthesize content, streamline day-to-day communications and help employees with tasks like generating blog posts. It said companies can also connect Q to their own data and systems to get a tailored experience that's more relevant to their business. While Amazon is ahead of rivals Microsoft and Google as the dominant cloud computing provider, it’s not perceived as the leader in the AI research that’s led to advancements in generative AI.
Persons: who’ve, they’ve, it’s, that’s, Amazon Organizations: Microsoft, Google, Amazon, Stanford University, Stanford, OpenAI Locations: Las Vegas, Francisco, ChatGPT, San Francisco
The new software arrives roughly a year after OpenAI’s ChatGPT burst onto the scene, setting off a frenzy of investment in generative AI startups. AWS CEO Adam Selipsky, at Amazon’s annual cloud computing conference in Las Vegas, announced a new safeguard against objectionable content on generative AI applications, called Guardrails for Bedrock. Because generative AI is trained on publicly available content, offensive words or other objectionable content can slip through into results from users’ prompts. Selipsky said the new service was important for customers to put limits they see fit on the generative AI they use. Also at the conference, Amazon announced it would indemnify its customers against lawsuits based on the misuse of copyrighted materials.
Persons: Vincent West, Slack, OpenAI’s, Adam Selipsky, Selipsky, , Greg Bensinger, Marguerita Choy Organizations: REUTERS, Facebook, Amazon, Getty, Thomson Locations: Trapagaran, Spain, Las Vegas, Seattle
Amazon announces Q, an AI chatbot for businesses
  + stars: | 2023-11-28 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Amazon on Tuesday announced a new chatbot called Q for people to use at work. The Copilot for Microsoft 365 and Duet AI for Google Workspace for business workers both cost $30 per person per month. As a result, with Q, people can discuss information that's stored in Microsoft 365, Dropbox, Salesforce and Zendesk, along with AWS' S3 data-storage service. Administrators will be able to determine whether Q can answer people's questions about general topics, said Deepak Singh, an AWS vice president. WATCH: The market now sees Amazon as more of a cloud and generative AI company, says Needham's Laura Martin
Persons: James Bond, Salesforce's Slack, Adam Selipsky, Selipsky, Steven Dickens, Q, Deepak Singh, Needham's Laura Martin Organizations: Amazon Web Services, Microsoft, Google, Star Trek, Futurum, AWS Locations: Las Vegas
Amazon was quieter about its A.I. Amazon also introduced a platform this year that allows customers to have access to different A.I. As the leading provider of cloud computing, Amazon already has business customers storing vast amounts of information on its cloud servers. In response, Amazon built Q to be more secure and private than a consumer chatbot, Mr. Selipsky said. Amazon Q, for example, can have the same security permissions that business customers have already set up for their users.
Persons: Selipsky, , Organizations: Companies Locations: Anthropic
She has Slacked senior women leaders "The Man" by Taylor Swift as a reminder of "you got this." She was its first general counsel, helped take the company public, and was named president this July. As you learn who the Lyft customer is, what do you want to change and make better for them? I really say, "Have the courage of a mediocre white male." And this was tough to hear, but in some ways heartening, because like I said, with our new customer obsessed orientation, it's actually something that we've already been really, really actively working on.
Persons: Kristen Sverchek, Taylor Swift, , she's, It's, Sverchek, David, Risher, that's, gee, what's, Lyft, we've, We've, Slack, undergrad, Lindsay Llewellyn, who's, I've, we're Organizations: Service, Business, Berkeley Law Locations: Lyft
It also is one of the most substantial exceptions to the Posse Comitatus Act, which generally prohibits using the military for law enforcement purposes. Trump has spoken openly about his plans should he win the presidency, including using the military at the border and in cities struggling with violent crime. His plans also have included using the military against foreign drug cartels, a view echoed by other Republican primary candidates such as Florida Gov. The threats have raised questions about the meaning of military oaths, presidential power and who Trump could appoint to support his approach. William Banks, a Syracuse University law professor and expert in national security law, said a military officer is not forced to follow “unlawful orders."
Persons: Donald Trump, , I’m, , ” Trump, Trump, don’t, Joseph Nunn, Brennan, “ There’s, Nunn, Ron DeSantis, Nikki Haley, Michael Flynn, Flynn, Charles Q, Brown, Joe Biden's, Lyndon Johnson, Dr, Martin Luther King Jr, Johnson, John F, Kennedy, Dwight Eisenhower, Eisenhower, George H.W, Bush, Rodney King, Michael O’Hanlon, O’Hanlon, Pat Ryan, Ryan, William Banks, Banks, ” Nunn, Jill Colvin, Michelle L, Price, Linley Sanders Organizations: WASHINGTON, New, Brennan Center for Justice, Florida Gov, South, Army, FBI, Trump, Pentagon, Joint Chiefs, Staff, U.S . Capitol, AP, Republican, Washington, Civil, 101st Airborne, Central High School, National Guard, Brookings Institution, Democratic, U.S . Military Academy, Syracuse University, Associated Press Locations: Iowa, New York City, Chicago, Florida, South Carolina, U.S, Baltimore , Chicago, Rock , Arkansas, Los Angeles, New York, West, Washington
CNN —John Travolta says a near-death experience he had while piloting a plane in 1992 inspired him to take on his role in the new Disney+ short film “The Shepherd.”“The Shepherd” tells the story of a young pilot attempting to land safely after experiencing electrical failure mid-air. The premise is eerily similar to what Travolta, a licensed pilot, said he experienced back in 1992. “I knew what it felt like to absolutely think you’re going to die,” he said. And I thought it was over.”He ultimately made a safe landing “as if by a miracle,” he said. It’s why Travolta was drawn to “The Shepherd,” which is based on Frederick Forsyth’s 1975 book of the same.
Persons: CNN — John Travolta, Shepherd, ” “, Travolta, , , It’s, Frederick Forsyth’s, Ben Radcliffe, Radcliffe “ Organizations: CNN, Disney, Variety, Washington D.C Locations: London
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