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☆ Trump said he'll unleash an oil boom. Exxon Mobil CEO says not so fast.
▼ + stars: | 2024-11-12 | by ( Catherine Boudreau | Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Trump has said he plans to bring down gas prices by boosting US oil production. AdvertisementDuring the presidential campaign, Trump said that he planned to lower energy prices — including the cost of gas — by increasing US oil production. Cahill added that he expects the US to increase oil production, but it will happen gradually. However, he said boosting oil production while keeping prices at a desired level is a "delicate balance" for the industry. "If oil prices drop, you're likely to see a natural decline in US oil production over the long run," he said, adding, "Oil companies have shareholders to be accountable to."

Persons: Trump, Darren Woods, —, Donald Trump's, Semafor, Ben Cahill, Cahill, Woods, Patrick De Haan, Joe Biden Organizations: ExxonMobil, Service, Energy, University of Texas, US Energy Information Administration, CNBC, Trump, OPEC, US, Wall Street, Exxon Locations: China, Austin, Gulf, Mexico, Paris

☆ Engines on 1.4 million Honda vehicles might fail, so US regulators open an investigation
▼ + stars: | 2024-11-11 | by ( Associated Press | ) edition.cnn.com time to read: +1 min

CNN —The U.S. government’s highway safety agency is investigating complaints that engines can fail on as many as 1.4 million Honda and Acura vehicles. The agency says in documents posted on its website Monday that connecting rod bearings on vehicles with 3.5-liter V6 engines can fail, leading to complete engine failure. Honda recalled about 250,000 vehicles in November of 2023 to fix the same problem. The agency said it’s opening a recall query to determine the severity of the problem in vehicles not included in the 2023 recall. In documents explaining the 2023 recall, the automaker said had 1,450 warranty claims due to the bearing problem but no reports of injuries.

Persons: Honda Organizations: CNN, Honda, Acura, National, Traffic, Administration, NHTSA

☆ Oppenheimer raises S&P 500 2024 forecast to highest on Street on removal of election uncertainty
▼ + stars: | 2024-11-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Oppenheimer sees more upside ahead for the S & P 500 now that the presidential election is over. The firm lifted its price target on the broad index to 6,200 from 5,900, reflecting 3.5% upside from Friday's close. .SPX YTD mountain S & P 500's year-to-date performance According to Stoltzfus, the election helped rid the market of lingering uncertainties and ushered in a "sigh of relief rally." The S & P 500 surged more than 4% last week, marking its biggest weekly advance in over a year. Oppenheimer retained its earnings estimates for the year, noting that the S & P 500 companies reporting so far have signaled "robust" quarters.

Persons: Oppenheimer, John Stoltzfus, Stoltzfus, Donald Trump's Organizations: CNBC Pro's, Fed Monetary

☆ OpenAI is reportedly struggling to improve its next big AI model. It's a warning for the entire AI industry.
▼ + stars: | 2024-11-11 | by ( Hasan Chowdhury | Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

It reignites a debate about the feasibility of developing increasingly advanced models and AI scaling laws — the theoretical rules about how the models improve. It remains to be seen how smart an AI model can get when it has that much capital thrown at it. There could also be strategies to make AI models smarter by enhancing the inference portion of development. The model OpenAI released in September — called OpenAI o1 — focused more on inference improvements. Still, it's clear that, like Altman, much of the industry remains firm in its conviction that scaling laws are the driver of AI performance.

Persons: OpenAI's, It's, —, Sam Altman, Fabrice Beaulieu, Altman, OpenAI, Andrew Caballero, Reynolds, Ion Stoica, Gary Marcus, Anthropic, Marcus, Claude, Ilya Sutskever, Dario Amodei, Kevin Scott, we're, Scott, they've Organizations: Service, OpenAI's, Orion, Business, Getty, Companies, New York University, Reuters, Sequoia, o1 Locations: GPT, Silicon Valley, AFP

☆ Netflix, Hulu, and Amazon Prime Video subscribers are hitting 'pause' instead of canceling altogether
▼ + stars: | 2024-11-11 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

Streaming video services are seeing more customers hitting "pause," The Wall Street Journal reports. The Journal examined subscription data from analytics firm Antenna to see the pattern of people quitting Netflix, Apple TV+, Disney+, Hulu, Max, Amazon Prime Video, and others. The average rate of U.S. customer cancellations among premium streaming video services reached 5.2% in August, but after factoring in re-subscribers, the rate of defections was lower at 3.5%. Meanwhile, last month, the Federal Trade Commission finalized a "click to cancel" rule that is supposed to make it easier for customers to cancel online subscriptions. In them, he's dancing shirtless to an audio meme to promote his FX show, "English Teacher," which streams on Hulu.

Persons: I'm, —, Brian Jordan Organizations: Street, Hulu —, Service, Netflix, Apple, Max, Amazon Prime, Federal Trade Commission Locations: Hulu

☆ Singapore Airlines shares fall as much as 6% as profit nearly halves amid intensifying competition
▼ + stars: | 2024-11-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

An Airbus A350-941 from Singapore Airlines is preparing to take off on the runway at Barcelona-El Prat Airport in Barcelona, Spain, on May 1, 2024. SINGAPORE — Shares of Singapore Airlines dropped after the city-state's flag carrier reported a fall of almost 50% in net profit for its first half April to September period, citing lower yields and growing competition. Net profit in the first half of the fiscal year came in at 742 million Singapore dollars ($559.12 million), 48.5% lower than the SG$1.44 billion in the same period a year ago. Singapore Airlines said in a release that the fall in operating profit was due to "increased capacity and stronger competition in key markets," which led to a fall in yields and ultimately, profit. However, SIA will not "hold back on capacity growth just because there's competition in the market," Lee added.

Persons: Lee Lik Hsin, Goh Choon Phong, Lee Organizations: Airbus, Singapore Airlines, El, SINGAPORE —, Singapore, SIA Locations: Barcelona, Spain, SINGAPORE, Singapore

☆ Dollar braces for U.S. inflation data and several Fed speakers
▼ + stars: | 2024-11-11 | by ( ) www.cnbc.com time to read: +3 min

The dollar started in a cautious mood on Monday as markets braced for U.S. inflation data and a throng of Federal Reserve speakers this week, while the yuan nursed a hangover from Beijing's latest underwhelming stimulus package. The dollar started in a cautious mood on Monday as markets braced for U.S. inflation data and a throng of Federal Reserve speakers this week, while the yuan nursed a hangover from Beijing's latest underwhelming stimulus package. Reports on retail sales and industrial output due Friday should show whether Beijing's various attempts at stimulus are having any real effect on demand. The dollar stood at 7.1970 yuan , having jumped 0.7% on Friday, and looks set to again test the 7.2000 barrier. The dollar index was a fraction firmer at 105.00, after gaining 0.6% last week mainly against the euro.

Persons: Olaf Scholz, Donald Trump's, Michael Feroli, Jerome Powell, cryptocurrencies Organizations: Federal Reserve, New, U.S, Fed Locations: China, New Zealand

☆ Billions were bet on election odds using online markets
▼ + stars: | 2024-11-09 | by ( Bruna Horvath | Bruna Horvath Is An Intern On Nbc News' Tech Team. | ) www.nbcnews.com time to read: +3 min

Election betting platforms brought in billions of dollars as users around the world wagered on who would win Tuesday’s U.S. presidential election, according to an NBC News analysis of betting platforms. Michigan and Georgia followed close behind, and the rest of the swing states were all in the top 15 states with the highest trading volume. On both Polymarket and Kalshi, bets on swing states alone made up around half of the total trading volume on state outcomes. One Polymarket bettor, who identified himself as “Théo” in an interview with The Washington Post, had bet over $28 million on Trump winning the presidential election using multiple betting accounts. “Théo” had put money down on all the swing states, according to Polymarket’s analytics.

Persons: Donald Trump, Kamala Harris, Eric Zitzewitz, “ There’s, Will, ” Zitzewitz, bettor, “, Théo ”, Polymarket, Shayne Coplan, “ Théo, Zitzewitz Organizations: U.S, NBC, Dartmouth University, Republicans, Alabama, Democrats, California, Washington Post, Trump, Futures Trading Commission, Bloomberg Locations: Pennsylvania, Kalshi . Michigan, Georgia, U.S, America

☆ Tom Lee says small cap stocks can outperform over next couple years by 100% on Trump policies
▼ + stars: | 2024-11-08 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Donald Trump's second presidency could help supercharge small cap stocks further, according to Fundstrat managing partner and head of research Tom Lee. "Since 1987 small caps traded on a median price-to-earnings [ratio] at a premium basis to the S & P 500, and the S & P 500 is at 17 times. I think small caps could over the next couple of years outperform by more than 100%," Lee told CNBC's " Squawk Box " on Friday. Lee is also bullish on equities more broadly, and doesn't limit his optimistic outlook to only small caps. He also forecast the S & P 500 could break above 6,000 before the end of the year and top 6,700 in 2025.

Persons: Donald Trump's, Tom Lee, Lee, CNBC's, Russell, Stocks, Trump's, haven't, FundStrat Organizations: Trump, U.S, Granny Shots, Tesla, Oracle

☆ Nissan shares plunge over 10% after downbeat quarterly results, production-cut plans
▼ + stars: | 2024-11-08 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

The Nissan ARIYA on the EV test track at the New York International Auto Show on March 28, 2024. Nissan released its second-quarter results ended September on Thursday, which showed that it recorded a 9.3 billion yen (about $62 million) net loss, a reversal from the 190.7 billion yen net profit it made in the same quarter last year. Operating profit in the second quarter plunged almost 85% year-on-year to 31.9 billion yen, while revenue dropped 5% to 2.99 trillion yen. Nissan also sharply lowered its full-year outlook, cutting its revenue projection to 12.7 trillion yen from 14 trillion yen, while also reducing its operating profit forecast to 150 billion yen from 500 billion yen. It aims to reduce fixed costs by 300 billion yen and variable costs by 100 billion yen, compared to its 2024 financial year.

Persons: Makoto Uchida Organizations: Nissan, New York

☆ Inflation data will be key hurdle to get through next week after stock market's historic postelection rally
▼ + stars: | 2024-11-08 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Inflation data in the week ahead could determine whether a stock market that surged to all-time highs after Donald Trump 's decisive victory can continue to push higher. Meanwhile, the October producer price index, which excludes shelter, is set to have risen 0.3%, consensus estimates show, up from a 0.0% reading the prior month. Initial Claims (11/09) 8:30 a.m. Producer Price Index (October) Earnings: Applied Materials , Walt Disney Friday, Nov. 15 8:30 a.m. Export Price Index (October) 8:30 a.m. Import Price Index (October) 8:30 a.m.

Persons: Donald Trump, Hogan, We've, Nancy Tengler, Bitcoin, Harker, Tyson, Price Organizations: Federal Reserve, Riley Wealth Management, FactSet, Laffer, Investments, Trump, Dow Jones, Nasdaq, Atlanta Fed, Treasury, Philadelphia Reserve, Carnegie Mellon, Occidental Petroleum, Nation Entertainment, Tyson Foods, Mosaic, Treasury Budget NSA, Cisco Systems, Walt Disney, Price, Retail, Manufacturing Locations: China, U.S

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Home Depot, Domino's, Wingstop, Warby Parker, Rivian, Bank of America & more
▼ + stars: | 2024-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.

Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW

☆ This software stock is well-positioned to benefit from Trump's agenda, trader says
▼ + stars: | 2024-11-08 | by ( Tony Zhang | ) www.cnbc.com time to read: +4 min

A pro-business agenda, regulatory flexibility, and potential tax incentives under his administration could once again set the stage for technology stocks to outperform. Adobe (ADBE) , a leader in AI-enhanced creative solutions, is particularly well-positioned to capitalize on this environment. With its superior growth rates and operational margins that set it apart from peers, Adobe's valuation presents a compelling entry point amid strong fundamentals and a supportive administration. This signals that sellers are starting to get exhausted and presents an opportunity for buyers to start stepping in for a strong counter-trend rally. To capitalize on a potential rally in Adobe, consider buying the December 20, 2024, $500/550 Call Vertical @ $18.05 Debit.

Persons: Donald Trump's, ADBE Organizations: Adobe, Digital Media, CNBC, NBC UNIVERSAL

☆ Markets just had their best week all year
▼ + stars: | 2024-11-08 | by ( John Towfighi | ) edition.cnn.com time to read: +4 min

New York CNN —US stocks closed at record highs on Friday, notching their best week all year after Donald Trump’s victory in the US presidential election. Both the S&P and the Dow had their best week in a year. Investors are responding to how Trump’s victory might transform the business landscape in the US. Markets had a milestone week as investors adjusted to Trump’s victory and started to evaluate the policies touted by his campaign, such as his proposal to lower the corporate tax rate. Markets move based on investor sentiment, and the historic gains this week are not certain to last.

Persons: Donald Trump’s, Dow, ”, Michael Block, Trump, Keith Lerner, Lerner, ” Lerner, Elon Musk’s Tesla, Bitcoin, Hogan, … Organizations: New, New York CNN, Nasdaq, US, Treasury, Markets, Dow, Advisory, Federal Reserve, Trump, Trump Media & Technology, GEO, America PAC, JPMorgan, Riley Wealth Management Locations: New York

☆ Questions about sexual orientation and gender ID on track to be on U.S. Census Bureau survey by 2027
▼ + stars: | 2024-11-07 | by ( The Associated Press | ) www.nbcnews.com time to read: +3 min

Questions about sexual orientation, gender identity and changes to queries about race and ethnicity are on track to be asked in the most comprehensive survey of American life by 2027, U.S. Census Bureau officials said Thursday. Under the revisions, questions about race and ethnicity that previously were asked separately will be combined into a single question. Questions in English and Spanish about sexual orientation and gender identity started being tested in August with trial questionnaires sent out to several hundred-thousand households. On the sexual orientation test question, respondents can provide a write-in response if they don’t see themselves in the gay or lesbian, straight or bisexual options. The trial questionnaire also is testing “degenderizing” questions about relationships in a household by changing options like “biological son or daughter” to “biological child.”

Persons: ” Organizations: Census, American, Survey Locations: U.S, Eastern

☆ College football Week 11 oddly specific predictions: Down go the Hoosiers!
▼ + stars: | 2024-11-07 | by ( Manny Navarro | ) www.nytimes.com time to read: +9 min

This week, the numbers are screaming to go with Colorado’s Shedeur Sanders, one of eight quarterbacks averaging more than 300 passing yards a game. This week, I’m riding with Sampson to lead all rushers in yards because he’s facing a Mississippi State defense that’s ranked 124th against the run. Dart’s 515 passing yards and six TDs last week against Arkansas, with a breakout performance from Jordan Watkins, provide more reason for me to stick with my midseason prediction. AdvertisementWeek 10 report cardAs mentioned before, my big victory last week was predicting Dart would lead all QBs in passing yards. I had Clemson covering a 10.5-point spread against Louisville with Cade Klubnik (250-plus passing yards, two TDs) and Phil Mafah (100-plus rushing yards, two TDs) doing work.

Persons: James Franklin, I’ve, We’ll, Ole Miss ’ Jaxson Dart, Colorado’s Shedeur Sanders, Travis Hunter, Shedeur Sanders, ike y, Al Organizations: Penn, Ohio State, Nittany Lions, Ole Miss, ust

☆ Evercore ISI says Trump to drive S&P 500 to 6,600 by mid-2025, gives top stocks to play new policies
▼ + stars: | 2024-11-07 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

The firm said it sees the S & P 500 soaring to 6,600 by the end of June 2025. Already, Trump's win has spurred a huge stock market rally, with the S & P 500 soaring 2.5% on Wednesday to notch its best postelection day in history. Since 1932, the S & P 500 has averaged a 152% gain over 50 months during bull runs. The strategist listed several stocks Evercore thinks could benefit from a Trump win, and some that could outperform even further from a red sweep. Trump's win "could bring more favorable regulatory environment — and WFC is one of the most regulatory-impacted names given outstanding asset cap," the firm said.

Persons: Donald Trump's, It's, Dow, Julian Emanuel, Elect Trump, Emanuel, Goldman Sachs, Evercore, Tesla, Elon Musk Organizations: ISI, Trump, GOP, Goldman, Palo Alto Networks, Israel, Exxon Mobil, Halliburton Locations: Wells, Wednesday's, Wells Fargo, China, Israel, Russia, Ukraine, cyberattacks

☆ Wall Street's most famous floor trader recounts election euphoria at the NYSE and explains how to trade an incredibly bullish fourth quarter
▼ + stars: | 2024-11-07 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Upcoming Fed rate cut and holiday season may sustain market momentum, Tuchman predicts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Markets reacted strongly to former President Donald Trump's victory over Vice President Kamala Harris in Tuesday's election. He then realized that the strong trend could be held up by more than just election results.

Persons: Tuchman, —, Peter Tuchman, who's, Donald Trump's, Kamala Harris, Dow Jones, you've, Tuchman didn't, that's, there's Organizations: Dow, Service, New York Stock Exchange, Markets, AMD, Nvidia Locations: Tuesday's, Santa Claus

☆ Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold
▼ + stars: | 2024-11-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Moderna on Thursday posted a surprise profit for the third quarter, smashing Wall Street estimates, as its cost-cutting efforts took hold and sales of its Covid vaccine came in higher than expected. Before year end, the company plans to file for approval of its experimental "next-generation" Covid vaccine and combination shot targeting Covid and the flu. Moderna this year also expects to apply for expanded approval of its RSV vaccine, targeting high-risk adults ages 18 to 59. "I think the earlier launch and a steeper ramp drove a much higher sales number" for the Covid vaccine, Moderna CEO Stéphane Bancel said in an interview. Analysts had expected sales of $132 million for the RSV vaccine, according to estimates compiled by StreetAccount.

Persons: Moderna, Stéphane Bancel, Bancel, StreetAccount, mull Organizations: Moderna, LSEG, Merck, Research Locations: U.S, Union, Norway, Iceland, Qatar, Europe

☆ CNBC Daily Open: The Trump rally begins
▼ + stars: | 2024-11-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, solar stocks tanked on fears that Trump would slash tax credits for solar energy. The Trump rally, in short, has begun. To be sure, yesterday's frenzy could have been a relief rally as much as a Trump rally. For now, however, the Trump rally is lighting up the markets.

Persons: Donald Trum, Russell, Trump's, Trump, Elon Musk, Donald Trump, Kamala Harris, Donald Trump's, Marc Pinto, Janus Henderson, Tesla, Edward Jones, Angelo Kourkafas, Yung, Yu Ma, Jesse Pound, Scott Schnipper, Alex Harring, Yun Li Organizations: Republican, Nevada GOP, CNBC, Democratic, NBC News, U.S, Janus, Janus Henderson Investors, Trump, Bank, General Motors, Ford, EV, Dow Jones, Nasdaq, BMO Wealth Management Locations: Florida, Nevada, Las Vegas , Nevada, U.S, United States

☆ Why you shouldn't get caught up in the post-election stock-market frenzy: Morningstar
▼ + stars: | 2024-11-07 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Investors boosted stocks after Donald Trump won a second term. But investors shouldn't depart from their long-term investing plan, Morningstar's Dave Sekera says. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But even as prices soar, it's important not to get caught up in the mania beyond your normal risk tolerance, warns Morningstar Senior US Market Strategist Dave Sekera. "The small-cap space, even with today's bump, it's still the most undervalued part of the market in our view," he said.

Persons: Donald Trump, shouldn't, Dave Sekera, —, Morningstar, Sekera, Trump, aren't, Goldman Sachs, shouldn't overreact, John Rekenthaler, Joe Biden, That's, it's Organizations: Service, Dow Jones, White Locations: bullishness

☆ Want to dodge the market volatility and capture the upside? This JPMorgan ETF's manager reveals how he's doing it
▼ + stars: | 2024-11-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

The JPMorgan Asset Management's U.S. fund, already the largest active ETF in the world, returned 21.5% in 2021, including 8.15% as income. In 2022, when the S & P 500 index nearly fell into a bear market, the fund lost just 3.5% in value. Over the past couple of years, the fund has returned 7% to 9% in income on top of capital appreciation. Spence stressed that JPMorgan did not intentionally time its entry into Europe on one of the most volatile weeks of the year for global markets. One such fund is Global X's covered call ETF XYLD , which marginally outperformed JPMorgan's JEPI over the past two years.

Persons: Donald Trump's, JEPI, Hamilton Reiner, Travis Spence, Spence, Reiner Organizations: JPMorgan, JPMorgan Asset Management's, CNBC, London Stock Exchange, Deutsche Borse, Six Swiss, Asset Management, U.S, Presidential, Global Locations: Europe, Germany, U.S, London, Netherlands, Italy, Switzerland

☆ Stocks making the biggest moves midday: Warner Bros. Discovery, AppLovin, Wolfspeed, Lyft and more
▼ + stars: | 2024-11-07 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

The stock had popped 5.9% on Wednesday after the Republican was elected the 47th president of the U.S. Warner Bros. Lyft expects current-quarter bookings to come in between $4.28 billion to $4.35 billion, topping a FactSet consensus of $4.23 billion. Wolfspeed posted revenue of $195 million for the first fiscal quarter, missing the LSEG consensus forecast by $5 million. Arm posted adjusted earnings per share of 30 cents on revenue of $844 million for the second quarter. AppLovin also guided its fourth-quarter EBITDA of $740 million to $760 million, higher than the $667 million StreetAccount forecast.

Persons: LSEG, Donald Trump's, Armour, —, Lyft, Wolfspeed, AppLovin, Zillow, Alex Harring, Sean Conlon, Hakyung Kim, Yun Li, Lisa Kailai Han Organizations: Bros, Dutch Bros, Trump Media & Technology, Republican, U.S, Warner Bros, —, Discovery, FactSet . Arm Holdings, LSEG, Gilead Sciences Locations: Gilead

☆ CNBC Daily Open: The Trump rally kicks off
▼ + stars: | 2024-11-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineDonald Trump's victory in the U.S. presidential elections is providing a tailwind to risk assets. The Trump rally, in short, has begun. To be sure, yesterday's frenzy could have been a relief rally as much as a Trump rally. For now, however, the Trump rally is lighting up the markets.

Persons: Donald Trump, Brian Snyder, Donald Trump's, Marc Pinto, Janus Henderson, Trump's, Tesla, Elon Musk, bitcoin, Trump, Angelo Kourkafas, Edward Jones, Yung, Yu Ma, Jesse Pound, Scott Schnipper, Alex Harring, Yun Li Organizations: Santander Arena, Reuters, CNBC, U.S, Janus, Janus Henderson Investors, Trump, Bank, General Motors, Ford, EV, Dow Jones, Nasdaq, BMO Wealth Management Locations: Reading , Pennsylvania, U.S

☆ Anthropic is gaining on OpenAI in this key area of the AI market
▼ + stars: | 2024-11-07 | by ( Alistair Barr | ) www.businessinsider.com time to read: +4 min

Anthropic has been gaining on arch rival OpenAI in recent months, according to data from a popular developer tool offered by startup Vercel. In the week of August 18, the OpenAI code library was downloaded almost 229,000 times by developers. Data from Vercel's AI SDK toolkit VercelA top executive at Vercel attributed the recent adoption trends partly to a new AI model that Anthropic released in the summer. That's because many AI model providers have adopted OpenAI's API specification as a de facto standard. AdvertisementAn OpenAI spokesperson said usage of the startup's API has doubled since it released its GPT-4o mini AI model in July.

Persons: Anthropic, OpenAI, Sweta Patel, Claude, Jared Palmer, Sonnet, There's, Dianne Penn, Penn, DoorDash Organizations: Vercel

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