The stock market experienced a slight decline on Friday, with both the S&P 500 and Nasdaq closing marginally lower. The main culprit behind this downturn was the decline in Nvidia shares for a second consecutive day. As a result, the technology sector, which Nvidia heavily influences, was the biggest loser among the 11 major S&P
The housing market is currently facing a challenging situation, with sales of previously owned homes at a 30-year low. In May, existing home sales were essentially flat, experiencing a 0.7% decrease from April. The National Association of Realtors reported that the annualized rate of sales was 4.11 million units, marking a 2.8% decline from the
The recent decisions made by central banks around the world have had a significant impact on currency markets. The Federal Reserve’s patient approach to cutting interest rates stands in stark contrast to the more dovish stances taken by other central banks. This divergence in monetary policy has led to fluctuations in the value of the
SoftBank CEO Masayoshi Son made a bold statement during a recent public appearance, predicting that artificial intelligence will soon surpass human intelligence by a factor of 10,000. Son’s vision encompasses a world where artificial super intelligence (ASI) will revolutionize the way we interact with technology. He discussed the concept of artificial general intelligence (AGI), which
China has invested a substantial amount, totaling $230.8 billion, over more than a decade to develop its electric car industry. This massive scale of government support represents 18.8% of total electric car sales between 2009 and 2023. However, it is crucial to note that the ratio of government spending to EV sales has been on
In the competitive world of artificial intelligence, Anthropic has made waves with the announcement of its latest model, Claude 3.5 Sonnet. This cutting-edge AI model is set to rival the likes of OpenAI’s ChatGPT and Google’s Gemini, showcasing the company’s dedication to innovation in the field of AI. Anthropic, founded by ex-OpenAI research executives, has
Disney/Pixar’s Inside Out 2 continues to dominate the international box office, setting new records in various overseas markets. The film raked in $29 million on Wednesday alone, contributing to a total overseas box office of $203.3 million in 42 markets. With the global total reaching $438.7 million, the movie is on the brink of crossing
Accenture, a leading tech company, saw its stock skyrocket by an impressive 8.6%. Despite missing earnings and revenue expectations, Accenture managed to secure over $900 million in new generative AI bookings. This unexpected turn of events left many investors intrigued and optimistic about the company’s future prospects. In stark contrast, Trump Media & Technology Group
Darden Restaurants recently reported their quarterly results, and it was a mixed bag. The company faced challenges as Olive Garden, one of their key chains, experienced a decrease in same-store sales for the second quarter in a row. This decline impacted the overall performance of the company, despite some positive growth. Financial Overview In the
Despite a lower-than-expected inflation reading in Israel, many analysts argue that the central bank will not resume its rate cutting cycle anytime soon. The ongoing war against Hamas is seen as a significant constraint for policy makers. May’s inflation rate of 2.8% was below a consensus of 3.2%, surprising markets. However, the inflation rate is