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☆ Election prediction markets are in a sprint to prove themselves as forecasting and investing tools
▼ + stars: | 2024-10-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

"Things were going okay before the election contracts, but since we put them on the platform there's been a lot more interest," Sanders said. The election contracts on each site are binary, and they pay out $1 if the correct outcome is chosen and $0 for the incorrect outcome. A fifth arena, Polymarket, is a blockchain-based prediction platform that is not open to U.S. customers. If they prove to be accurate over time, the prediction markets may also serve non-traders such as consultants and fundraisers who want to glean more insight into the election. Concerns More ominously, critics of the election markets have raised alarm that they could be moved by one or two big traders for possibly nefarious purposes.

Persons: politicos, Kalshi, Steven Sanders, Sanders, John Phillips, Phillips, Tarek Mansour, Bob Elliott, Ray, Elliott, Polymarket, Nikki Haley, Michelle Obama, Matt Thompson, Thompson, Koleman Strumpf, Cantrell Dumas, Dumas, PredictIt's Phillips, Strumpf, Mansour, We've Organizations: Wall, Interactive, Futures Trading Commission, CFTC, Kalshi, Funds, Bridgewater Associates, South Carolina Gov, Republican, Little Harbor Advisors, Wake Forest University, Better, CNBC, Wake Locations: Iowa, Winston, Salem, N.C, Susquehanna

☆ Mom of 12-year-old CEO shares her 2 parenting non-negotiables: 'It's important for the child to be a child'
▼ + stars: | 2024-10-10 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

It's no surprise to Evana Oli that her 12-year-old daughter Zoe is a successful business owner. Beautiful Curly Me boasts brown dolls with natural hairstyles, children's books and hair care products. But after a few months and lots of pestering from Zoe, Oli took $5,000 from her savings to get a prototype of the doll designed ,secure an affordable manufacturer and launch the brand. In 2022, the Beautiful Curly Me brought in revenue in the low six-figures, according to documents reviewed by CNBC Make It. 'It's important for the child to be a child'First: Oli wants to make sure Zoe experiences a normal childhood, she says.

Persons: It's, Evana Oli, Zoe, Oli wasn't, Oli, —, Melernie Meheux Organizations: CNBC, Arizona State University Locations: Atlanta

☆ Kamala Harris' tax plan for small businesses sounds like it will cost a lot of money — it won't
▼ + stars: | 2024-10-05 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +9 min

Harris has proposed expanding the small business tax credit from $5,000 to $50,000. She even mentioned a key proposal in her opening answer at the presidential debate: expand the small business tax credit 10-fold, from $5,000 to $50,000. Theodos called small businesses "essential" for the US economy, and Buttle said they're a crucial source of innovation. The Pew Research study found 61% of small businesses are majority-owned by men and, as of 2021, 85% were majority-white owned. "We're talking about community businesses, micro-businesses, businesses where the founder doesn't have as much net worth," Theodos told BI.

Persons: Harris, —, Patricia Oswlad, Oswald, Kamala Harris, Rhett Buttle, Joe Biden, Taylor McCleneghan, Danielle Parhizkaran, Brett Theodos, Garret Watson, Theodos, Buttle, McCleneghan, Watson, Chip Somodevilla, they're, Mary Hansen, Francine Orr, doesn't Organizations: Service, Business, Brisa Systems, Small Business, Small, Boston Globe, Getty, Urban Institute, Foundation, Tax Foundation, Pew Research Center, American University, Los Angeles Times, Congress, Pew Research Locations: Chicago

Experts believe mortgage rates will hold steady for the rest of the year in the low 6% range. After spending the first half of the year at record highs, mortgage rates have finally been trending down for several months now. According to Freddie Mac, 30-year mortgage rates are now just above 6%. But Fed officials have indicated that we may only get 50 basis points worth of cuts by December. What would need to happen for mortgage rates to drop further?

Persons: —, Freddie Mac, Danielle Hale, Realtor.com, Hale, Scott Haymore, Haymore, Will, Dan Burnett, Phil Crescenzo, We're, that's, Crescenzo, there's, refinance Organizations: Service, Federal, Traders, TD Bank, Hometap, Nation One Mortgage Corporation

☆ I've worked in tech for over 20 years. These 2 career regrets haunt me the most.
▼ + stars: | 2024-09-30 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

Bellucci's career spans roles at Lycos, Sony, and Fujitsu, focusing on tech innovation. AdvertisementThis as-told-to essay is based on a conversation with Cristiano Bellucci, a 48-year-old technology vision lead in Munich. I'm the technology vision lead at Fujitsu and the owner of DigitIdeas, a business coaching company. I balance my career at Fujitsu with running a coaching businessI start my day working at Fujitsu on our technology vision. My advice to others to avoid career regrets is to be lighter, take the risk, and try it with a smile.

Persons: Cristiano Bellucci, —, I've, DigitIdeas, could've, you'll, Lauryn Haas Organizations: Fujitsu, Sony, Service, Lycos, Smart, Innovation Circuit, lhaas Locations: Munich, Rome, Italy, Germany, intraprenuers, Brazil, America, San Francisco, Europe

☆ The death of a young EY employee is raising questions over India's 'always-on' work culture
▼ + stars: | 2024-09-26 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +9 min

Advertisement"The pressure is very, very high," Jennifer Hephzibah, a senior HR professional in India, told Business Insider. 'Glorifying overwork'This always-on culture has come under the spotlight recently following the death of an EY employee, Anna Sebastian Perayil, in July. EY told BI it was "taking the family's correspondence with utmost seriousness and humility" and called Perayil's death an "irreparable loss." AdvertisementCost centers and cheap laborHuge multinational companies, such as EY, Google, Microsoft, Salesforce, and Accenture, have set up cost centers in India. "It definitely exists that multinational companies tend to think, 'We love that the Indians work hard, so let's keep doing that.'"

Persons: —, it's, Jennifer Hephzibah, Anna Sebastian Perayil, Peryail's, Sebastian Perayil, Anna, Perayil's, Rajiv Memani, EY, Narayana Murthy, Kavach Khanna, Khanna, Jeanie Chang, let's, Chang, Hephzibah, Jeanie Organizations: Service, International Labour Organization, Business, Boston Consulting Group, Infosys, Google, Microsoft, Accenture, Global, Centers, BI, Gallup State Locations: India, Japan

☆ Oppenheimer's top stock ideas heading into October
▼ + stars: | 2024-09-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

This comes after all three major averages recovered from the Aug. 5 global sell-off to close out last month higher. DKNG YTD mountain DKNG, year-to-date Biotechnology stock Viking Therapeutics also made the list. The stock has already surged more than 239% this year as its experimental obesity treatment advances through clinical trials. Telecommunications stock AT & T was another best idea, with its target of $23 implying more than 6% upside. Other names that made the list include Cigna , whose target implies more than 14% upside, and chip giant Broadcom .

Persons: Oppenheimer, Goldman Sachs, Jed Kelly, DKNG, Jay Olson, NASH, Timothy Horan, Horan isn't Organizations: Nasdaq, Dow Jones, Biotechnology, Viking Therapeutics, Telecommunications, AT, JPMorgan, Broadcom

☆ A millennial freelancer making 6 figures a year explains how she's preparing for the inevitable shift in side hustles
▼ + stars: | 2024-09-25 | by ( Robin Madell | ) www.businessinsider.com time to read: +6 min

The 36-year-old business coach said she's been gearing up for an "inevitable shift" in how work will operate since 2014. Upwork's latest data shows that nearly 64 million Americans — representing nearly 40% of the entire US workforce — have undertaken freelance work. Stats like these further reiterate the growing recognition of the importance of having multiple income streams. Dixon also uses this strategy in her freelance career. People without side hustles could struggleUltimately, Dixon stands by the idea that everyone should have a side hustle.

Persons: —, Reid Hoffman, Hannah Dixon, Dixon, she's, She's, It's, it's Organizations: Service, Twitter, Business

☆ Goldman names its top global battery stocks — giving 2 over 50% upside
▼ + stars: | 2024-09-25 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

CATL Goldman is buy-rated on Chinese battery maker Contemporary Amperex Technology Co, or CATL. The company — which has a global market share of 40% — "is the largest and most innovative battery maker globally," the bank's analysts wrote. Goldman has a price target of 307 Chinese yuan ($43.65) on the stock, giving it potential upside of around 55%. Gotion Another Shenzhen-listed Chinese stock Goldman likes is Gotion High Tech . Goldman has a buy rating on Gotion at a price target of 31.40 Chinese yuan, giving it potential upside of around 66.4%.

Persons: Goldman Sachs, — CATL, CATL Goldman, CATL, Goldman, — CNBC's Michael Bloom Organizations: LG Energy, Panasonic, Samsung SDI, Amperex Technology Co, Shenzhen Stock Exchange, Battery Technology, China Clean Technology, High Tech Locations: China, Gotion, Shenzhen

☆ Salesforce may finally have found its AI footing. What it means beyond the initial hype
▼ + stars: | 2024-09-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Bowing to investor pressure, Salesforce has adopted a more disciplined approach to dealmaking, increasing the importance of internal product development. "Agentforce is the product announcement [Salesforce] investors have sought for years," Needham analysts wrote in a recent note to clients. Salesforce stock remains down about 13% from its 2024 peak close and record high of $316.88 a share on March 1. CRM 1Y mountain Salesforce's stock over the past 12 months. Analysts said Salesforce is cheap compared to peers on multiple valuation metrics with ample room to increase free cash flow ahead.

Persons: Salesforce, Jim Cramer, Agentforce, Mulesoft, Needham, Einstein, —, Jim, Bofa, Baird, Piper Sandler, Piper, Jim Cramer's, Marc Benioff, Salesforce's Dreamforce, Justin Sullivan Organizations: Wall Street, Nasdaq, Barclays, Saks, Investors, Bank of America, CNBC, Getty Locations: Dreamforce, San Francisco, San Francisco , California

☆ Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewNike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. This story is available exclusively to Business Insider subscribers. According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988. AdvertisementNike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Persons: —, Elliott Hill, He's, John Donahoe, Hill's, Hill, I'm, I've, Tom Peddie, Peddie, Locker, David Daniels, Daniels, Peter Cappelli, Cappelli, Elliot Hill, he's, Justin Sullivan, Jim Duffy, BI's Lloyd Lee, Duffy, they've, Ursula Burns, Burns Organizations: Service, Business, Nike, BI, NIKE, — Consumer, National University of Singapore, Wharton School, University of Pennsylvania, Stifel, Xerox, Columbia University, Business Insider

☆ Nike and Adidas veterans are backing a $125M project seeking to revitalize the Portland sportswear industry
▼ + stars: | 2024-09-19 | by ( John Kell | ) www.businessinsider.com time to read: +10 min

The Northeast is the ancestral home of footwear manufacturing in the US, where New Balance still assembles more than 4 million pairs of sneakers each year. But that could soon change with a plan for a $125 million development campus called Made in Old Town. At the federal level, the US government has offered billions in subsidies to support manufacturing, mostly targeting the auto, semiconductor, and solar industries. With the Made in Old Town project, the aim is to generate about 6,000 full-time jobs in Portland by as soon as 2028. A long way to goThe Made in Old Town project is still in its early stages, having raised $15 million of its $125 million goal.

Persons: Portland's, Hilos, —, Keen, Elias Stahl, Portland's Hilos, Stahl, they're, Eric Liedtke, Liedtke, They've, Alo, Armour, Tina Kotek, Noel Kinder, Nike's, Kinder Organizations: Technology Association of Oregon, Chain Management, Service, Nike, Adidas, Bureau of Labor Statistics, Factory, Brands, Columbia, Midwest ., Gov Locations: Old Town, Portland , Oregon, Columbia, Portland's Old, Portland, Vietnam, China, Asia, Old, Germany, North America, Atlanta, Midwest

☆ OpenAI's power players: Meet the 20 leaders helping shape the future of the AI giant
▼ + stars: | 2024-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +18 min

Last November, the sudden ouster of CEO Sam Altman and the resulting revolt by most of its employees cast doubts on the future of the world's most prominent AI company. While by no means a comprehensive list, below are some of the key power players who are helping to determine OpenAI's future. He took over for his former boss, Jason Kwon, who has since become the company's chief strategy officer. She's also been referred to as OpenAI's "minister of truth" for her efforts to ensure the company's AI products aren't deceptive or biased. ResearchJakub Pachocki, Chief ScientistRelated storiesPachocki joined OpenAI's research in 2017 after completing a PhD in computer science at Carnegie Mellon University.

Persons: —, Sam Altman, OpenAI, Sarah Friar, Friar, Goldman Sachs, She's, Jason Kwon, Kwon, Anna Makanju, Global Affairs Chris Lehane, Che Cheng, OpenAI's, Cheng, Mira Murati, Murati, Kevin Weil, Weil, Instagram, Peter Welinder, Peter Deng, Research Jakub Pachocki, Pachocki, Ilya Sutkever, Ilya, Mark Chen, Chen, Bob McGrew, Sam Altman's, Lilian Weng, Weng, Aleksandr Madry, Barret Zoph, John Schulman, Zoph, Alec Radford, Radford, Zico Kolter, Kolter, Paul Nakasone, Bret Taylor, Taylor, He's, Larry Summers, Fidji Simo, Melinda Gates, Nicole Seligman, Adam D'Angelo, Quora, Altman, D'Angelo, Andrea Appella, Haidee Schwartz, Schwartz, Akin Gump, She'll, Heather Whitney, Whitney, Morrison Foerster, Makanju, Sam, Biden, Chris Lehane, Lehane, Clinton Organizations: Service, OpenAI, Business, Microsoft, Apple, Google, Khosla Ventures, Global, Global Affairs, Amazon, supercomputing, Tesla, Meta, Twitter, ChatGPT Enterprise, Research, Carnegie Mellon University, MIT, Facebook, Security, Machine Learning Department, Carnegie Mellon Carnegie Mellon, Stanford, CMU, Safety, Security Committee, US Army, NSA, US Cyber Command, Defense Department, U.S, Melinda Gates Foundation, Global Competition, Netflix, Century Fox, Competition, Federal Trade Commission, New York Times, Harvard Law School, University of Chicago Law School, NYU, Canada, Global Policy, Public Affairs, House, Newsweek Locations: Europe, Washington, OpenAI, Silicon, Middle East, Asia, London, Chan, Airbnb

As the Fed lowers its benchmark rate, mortgage rates are likely to go down. Mortgage rates often trend up or down ahead of expected Fed moves, but once a hike or cut is priced in, they tend to hold steady unless the Fed surprises everyone. Haymore also notes that mortgage rates could fluctuate depending on other information that comes out of this upcoming meeting. As it does, mortgage rates should trend down, too (as will the rates banks pay on high-yield savings accounts). If you got your mortgage more recently, you could save on your mortgage payment by refinancing.

Persons: —, Freddie Mac, Scott Haymore, Haymore, you've, Matt Baker, Baker Organizations: Service, Business, Fed, TD Bank, Mortgage Bankers Association, Navy Federal Credit Union

The Fed is expected to cut rates multiple times this year and in 2025, which means mortgage rates should continue decreasing. Will mortgage rates drop when the Fed cuts rates? If he or other Fed officials indicate that bigger rate cuts could be coming, mortgage rates may inch down. How Fed rate cuts affect mortgage ratesChanges to the federal funds rate don't directly impact mortgages, but mortgage rates tend to trend up when the Fed raises rates and go down when it lowers rates. The Fed could lower rates substantially by the time we reach the 2025 buying season, which means mortgage rates may be a lot lower, too.

Persons: Freddie Mac, Dan Burnett, Burnett, Jerome Powell, Powell, Fannie Mae, Scott Haymore Organizations: Fed, Federal Reserve, Housing Survey, TD Bank

☆ South Korea’s Hyundai and US’ GM to work together on developing new cars
▼ + stars: | 2024-09-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Hyundai and General Motors (GM) have agreed to look for ways to work together on developing new vehicles, supply chains and technologies in an effort to cut costs and move more quickly. Global carmakers are under intense pressure to come up with new electric vehicle (EV) and battery technology because they face vehicle emissions regulations around the world. South Korea’s Hyundai and America’s GM (GM) said on Thursday they would collaborate on joint product development, manufacturing and future clean energy technologies. The non-binding framework agreement was signed by Hyundai Motor Executive Chair Euisun Chung and GM Chair and CEO Mary Barra. Including its affiliate Kia, Hyundai Motor is the world’s third-largest automaker by sales, according to Reuters, while GM is currently America’s largest carmaker, having retaken that title from Toyota in 2022.

Persons: Hong Kong CNN —, They’re, Euisun Chung, Mary Barra, “, ” Barra, ” Chung, Cruise Organizations: Hong Kong CNN, Hong Kong CNN — Hyundai, General Motors, Global, EV, Korea’s Hyundai, America’s GM, Hyundai Motor, Kia, Hyundai, Reuters, GM, Toyota, Nissan, Renault, Honda, — Locations: Hong Kong, Japan

☆ Solasta Bio, a Scottish startup replacing insecticides with greener alternatives, raised $14 million with this pitch deck
▼ + stars: | 2024-09-11 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Solasta Bio, an agriculture tech startup, raised $14 million in Series A funding. Solasta specializes in green insecticides, using peptides for sustainable crop protection. AdvertisementSolasta Bio, an agriculture tech startup based in Glasgow, has raised $14 million in Series A funding. Founded by former professors, Solasta specializes in green insecticides for managing crop damage. Based on years of research, Solasta wants to tackle the four main insect groups that harm crops globally, especially fruit and vegetables.

Persons: Solasta, — Organizations: Service, Business Locations: Glasgow

☆ 4 things an executive learned from reporting to Airbnb CEO Brian Chesky
▼ + stars: | 2024-09-04 | by ( Jaures Yip | ) www.businessinsider.com time to read: +7 min

Read previewDuring his decade at Airbnb, Vlad Loktev picked up some pointers from CEO Brian Chesky. Although Loktev noted that their booking numbers were up and things appeared to be running smoothly, the CEO responded, "Things are just too calm. Loktev said he learned from how Chesky strategically inserted some disarray into an otherwise calm process. And he learned it from Chesky, whom Loktev said would continuously grow. AdvertisementIt's not about hitting the goalWhen it came to thinking big, Loktev said Chesky taught him how to rethink big goals.

Persons: —, Vlad Loktev, Brian Chesky, Loktev, Chesky, you've, That's, Brian, Paul Graham, Graham, Steve Jobs, they'll, it's Organizations: Service, Zynga, Ventures, Business, Airbnb, VP, Apple Locations: Airbnb, Chesky

☆ Workday stock gains as software provider widens 2027 margin target
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Subscription revenue growth grew 17%. With respect to guidance, Workday is now looking for an adjusted operating margin of 25.25% in the 2025 fiscal year, compared with the 25% forecast it provided in May. In September 2023, Workday said it was targeting a 25% adjusted operating margin for fiscal year 2027 and subscription revenue growth between 17% and 19%. Deutsche Bank analysts led by Brad Zelnick increased their 12-month price target on Workday stock to $275 from $265. "The increased 30% operating margin target was the big upside surprise as it is now committed both sooner and greater than most were expecting," the analysts wrote.

Persons: Carl Eschenbach, Zane Rowe, Rowe, We're, Brad Zelnick, Piper Sandler, Jerome Powell, Carl Eschenbach didn't, Julie Biel Organizations: Deutsche Bank, Citi, Evercore ISI, Computing Fund Locations: Davos, Switzerland

☆ Dell staff say they aren't surprised about layoffs following its AI pivot
▼ + stars: | 2024-08-11 | by ( Polly Thompson | ) www.businessinsider.com time to read: +5 min

Its goal is to "simplify how we operate and reimagine work and customer experiences with AI," Dell execs told employees in an internal memo. "Through a reorganization of our go-to-market teams and an ongoing series of actions, we are becoming a leaner company," a Dell spokesperson told Business Insider. NurPhoto/Getty ImagesSeveral Dell workers said that though layoffs were hard, they understood that AI was changing the nature of work. Getting leanerAside from the impact of AI and automation, many workers also believed that the restructuring and layoffs were unsurprising business decisions. Two Dell employees in human resources told BI that layoffs would bring the workforce to under 100,000 people.

Persons: —, Dell, Dell execs, Tell Dell, Vivek Mohindra, Michael Dell, Bain Organizations: Service, Business, Dell, BI, McKinsey, Workers, Mobile

☆ Tech stock sell-off may herald the long-awaited AI reckoning
▼ + stars: | 2024-08-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe tech slide follows a dramatic sell-off in Asia, with Japan's main stock market index, the Nikkei 225, ending 12.4% lower and other AI heavyweights such as SoftBank slid hard. By the end of the year, the company expects to spend up to $40 billion on AI research and product development. That's because AI's been touted as a technology as revolutionary as the internet and smartphones by tech luminaries like Bill Gates. If others really start to believe that's the case, it could mark the beginning of the end for the AI rally.

Persons: —, Jensen, Warren Buffett's Berkshire Hathaway, SoftBank, Sundar Pichai, Susan Li, AI's, Bill Gates, Goldman Sachs, Jim Covello, Daron Acemoglu, it's, Blackwell, Elliott, Dan Ives Organizations: Service, Tech, Business, Nvidia, Apple, Microsoft, Nikkei, Google, Big, Investors, Meta, Elliott Management, Financial Times Locations: Asia

☆ AI won't kill your computer science degree, professors say
▼ + stars: | 2024-08-05 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewGetting a computer science degree used to be a stable path for any college student looking to secure a tech job right after graduation. And if that wasn't enough, computer science majors don't just have to compete amongst themselves, they need to watch out for AI too. Computer science professors that BI spoke to said that earning a degree in the field is just as, if not more, valuable in the age of AI. Related storiesThis, Kan said, is because computer science isn't so much about coding as it is an approach to solving problems. AdvertisementDavid Malan, a computer science professor at Harvard, told BI that AI won't displace software engineers in the near term and would instead amplify their productivity.

Persons: —, Aditya Swami, Hatcher, Kan Min Yen, Kan, David Malan, Malan, Adrian Goh Organizations: Service, Big Tech, Business, National University of Singapore, Harvard, Engineers, Software Locations: Asia

☆ Why not all semiconductor firms are benefitting from the AI boom like Nvidia has
▼ + stars: | 2024-08-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024. Current interest in artificial intelligence revolves around two key terms — large language models (LLMs) and generative AI. Not all chip firms are benefitting from the boom in artificial intelligence, earnings show, underscoring the complexities of the semiconductor supply chain and dominance of some companies over others in different parts of the sector. But Nvidia's rival AMD has brought its own chip to market, called the MI300X AI chip, for AI purposes and is beginning to see the rewards. Chip manufacturing and tool companies appear to be benefitting too from the boom in AI.

Persons: Jensen Huang, Meta, ASML Organizations: Nvidia Corp, Blackwell, Nvidia, Technology, Google, Tech, Microsoft, AMD, Samsung, Qualcomm, CNBC

☆ CNBC Daily Open: Fed signals rate cut; U.S. stocks soar; oil gains as Middle East tensions rise
▼ + stars: | 2024-08-01 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

Rate cut on horizonThe Federal Reserve expectedly kept its benchmark rate steady at 5.25% to 5.50% on Wednesday, but Chairman Jerome Powell signaled the U.S. central bank could cut the rate in its September meeting. U.S. stocks rallyU.S. stocks jumped after Powell said a rate cut in September was "on the table." Oil gainsU.S. crude oil futures rose 4% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran. Asian stocks mixedAsian markets were mixed on Thursday with Japan stocks tumbling while Australia's S&P/ASX 200 touched a new all-time high. [PRO] Rate cut beneficiariesCNBC Pro screened for stocks in the S&P 500 that tend to rise the most when short-term rates start to decline.

Persons: expectedly, Jerome Powell, Powell, Ismail Haniyeh, Israel, Oil Organizations: New York Stock Exchange, Wall, CNBC, Nasdaq, Dow Jones, Nvidia, Devices, Boeing, Treasury, Facebook, Google, Meta, Oil, West Texas Intermediate, Nikkei, Developers, Bank of, Singapore Airlines, U.S Locations: New York City, U.S, Tehran, Iran, Israel, Beirut, Japan, Shanghai

☆ Mark Zuckerberg has brilliantly cornered us
▼ + stars: | 2024-08-01 | by ( Lloyd Lee | Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewMark Zuckerberg looks poised to dominate the AI adoption race thanks to a technicality: Meta has three billion-plus captive users who have no choice but to use it. As the company reported second-quarter earnings on Wednesday, Zuckerberg gloated about Meta AI — its AI assistant rolled out earlier this year — being "on track to achieve our goal of becoming the most used AI assistant by the end of the year." Related storiesIn effect, then, that gives Zuckerberg a lot of engaged users to introduce AI-powered technology to. Meta's family of apps now has 3.27 billion daily active users. Zuckerberg also seems intent on showing users that AI can inherently make their experience of his apps vastly better.

Persons: —, Zuckerberg, It's, Mike Proulx, Forrester, WhatsApp, Susan Li Organizations: Service, Harvard, Business, Meta, Facebook, Apple, Apple Intelligence, OpenAI

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