?? Bill Gates Predicts 5-Year AI Transformation

?? Bill Gates Predicts 5-Year AI Transformation


S&P 500 4,765.94 -17.87 (-0.37%)

Dow Jones 37,360.99 -231.99 (-0.62%)

NASDAQ 14,944.35 -28.41 (-0.19%)

Market close: January 16, 2023


Breaking News

Bill Gates has put forward his AI predictions suggesting the technology will be transformative for everyone within the next five years. CNN reports.

(Source: Wikimedia Commons by Masaru Kamikura)


The Warm Up

Restaurant Brands International will spend about $1 billion to buy the largest U.S. franchisee of Burger King. CNBC reports.


Musk has stated he wants 25% voting control of Tesla despite only owning 12% of the company. Fortune reports.


Goldman Sachs blows away earnings expectations bringing in around $11.3 billion in revenue. CNN reports.


Inflation jumped in December as consumer prices rose 3.4% compared to a year ago. ABC reports.


Microsoft introduces its Copilot AI assistant to small businesses and launches a premium tier for individuals. CNBC reports.


Another ship comes under fire in the Red Sea caused by Houthi attacks which will push up the prices of consumer goods. Reuters reports.


What’s Moving the Markets?

Analyzing the markets with Richie Naso, a Wall Street veteran of over 40 years & former member of the NYSE.

DELINQUENT CREDIT-CARD BILLS SOAR

Credit-card delinquencies surpassed pre-pandemic levels–and are approaching heights not seen in more than a decade–as high interest rates make it tougher for inflation-battered shoppers to keep their heads above water. With outstanding credit-card balances surpassing $5 trillion for the first time in November, all stages of credit-card delinquencies–30,60 and 90 days past due – are higher than in 2019, according to the Philadelphia Federal Reserve report.

Consumers who are not paying their bills in full each month are paying dearly for their credit. The annual average interest rate on credit cards is about 21%, with some cards charging nearly 30% for those who roll over their bills. Read More


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Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on January 16.

(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)


1. $DATS: DatChat

Total gain: (48%)

The company announced the proposed spin-off of its Habytat platform business into a new standalone public company. Benzinga reports.


2. $AAMC: Altisource Asset Mgmt

Total gain: (40%)

The company announced that it has settled litigation with Luxor Capital Group, LP. Benzinga reports.


3. $HMST: HomeStreet

Total gain: (39%)

FirstSun Capital Bancorp and Seattle-based HomeStreet, Inc. jointly announced that they have entered into a definitive merger agreement. Benzinga reports.


Today’s Notable Earnings

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)


AA Alcoa

Quarter 4, 2023

After Market Close Estimate: -0.78 Actual: N/A


SCHW Charles Schwab

Quarter 4, 2023

Before Market Open Estimate: 0.64 Actual: N/A


USB U.S. Bancorp

Quarter 4, 2023

Before Market Open Estimate: 0.98 Actual: 0.99


Today’s Key Economic Dates

Time (ET) / Report / Period

8:30 am Import Price Index

December

09:15 am Industrial Production

December

02:00 pm The Federal Reserve’s Beige Book


Extra-Time

Visit Our Knowledge Corner

What Is A Good 'Til Canceled (GTC) Order and How Is It Used In Trading?


Parting Thoughts

"Given a 10% chance of a 100 times payoff, you should take that bet every time." ― Jeff Bezos

Sourced in: Make the Most of Every Moment By Simon Alexander Ong · 2022


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