📈 OpenAI Mirrors Human Reason

SpaceX sends Billionaire for a walk, AirPods become hearing aids, Murdoch family in succession battle, Warner Bros giving away HBO, OpenAI gets complex reasoning

Author

Evelio Silvera
September 13, 2024

Good morning.

⚡ The Fast Five → SpaceX sends Billionaire for a walk, AirPods become hearing aids, Murdoch family in succession battle, Warner Bros giving away HBO, OpenAI gets complex reasoning

And now…

⏱️ Your 5-minute briefing for Friday, September 13, 2024:

MARKET BRIEF
Before the Open

As of market close 9/12/2024.

Pre-Market

  • Warner Bros. Discovery signed a multiyear distribution agreement with Charter Communications that integrates linear video and streaming services. Warner Bros. shares jumped 10%, the best performer on the S&P 500 and the Nasdaq, while Charter rose 3.6%, among the top Nasdaq gainers.

  • Moderna said it plans to cut back on its research and development spending as the company looks to save costs and prioritize the launch of new products already in the pipeline. The drugmaker's shares plunged 12%, the steepest decline on the S&P 500 and the Nasdaq.

Fear & Greed

*UP 0 pts

Trends

  • Wall Street indexes close up; data keeps smaller Fed rate cut in view

  • US weekly jobless claims modestly up

  • US 30-year fixed-rate mortgage falls to 6.20%

  • Gold hits record ahead of rate cuts

WHAT WE’RE WATCHING
Events

  • Tues. Sept 17: Census Bureau - Core Retail Sales (Automotive), 8:30AM

  • Why You Should Care: It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity

Earnings Reports

  • Today: VinFast Auto, SelectQuote

  • Monday: SunCar Technology, Ennis, IperionX

MARKET BRIEF
Headlines

Billionaire Jared Isaacman and SpaceX engineer Sarah Gillis completed the first privately funded spacewalk Thursday — a critical aspect of a risky, somewhat troubled mission designed to test new SpaceX technology, gather valuable data about high-altitude space travel, and generally push the limits of space exploration.

OpenAI said its latest version of ChatGPT is capable of complex reasoning, possibly bringing machines a step closer to humanlike cognition. The new o1 artificial intelligence model, released Thursday, solves complex math, science, and coding problems using a “chain of thought” to process queries — similar to how humans think — the startup said.

  • Apple turning AirPods into hearing aids underscores effort to crack massive health market (link)

  • US Treasury sets rules for 15% minimum tax on biggest, most profitable companies (link)

  • Wells Fargo stock drops after US regulator issues enforcement action for money laundering (link)

  • Amazon Pours $2.1 Billion Into Contract Delivery, Lifting Wages (link)

  • Mastercard splurges $2.65B on another big cyber purchase (link)

  • Why the Murdoch family is secretly battling over succession in an obscure Nevada court (link)

  • Warner Brothers Discovery scored a crucial cable deal — by making HBO free for millions of people (link)

CRYPTO
Fear & Greed

*UP 1 pt

Headlines

  • EToro Settles With the SEC (link)

  • New bill proposes joint SEC-CFTC committee to shape US crypto regulations (link)

  • A publicly-traded holding company is all-in on Solana (link)

  • Is Tether really more profitable than BlackRock? (link)

DAILY SHARE
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