What we’re reading (10/31)
“Stock Market Today: Dow, S&P 500, Nasdaq Climb To Cap Winning Month As Strong Earnings, Easing Rates Fuel Amazon, Tech Stocks” (Yahoo! Finance). “US stocks bounced back Friday, with Wall Street notching weekly and monthly wins as investors embraced strong earnings from Amazon (AMZN) that eased some doubts about prospects for Big Tech. The Nasdaq Composite (^IXIC) rose 0.6%, while the S&P 500 (^GSPC) gained 0.3%, both restoring solid gains after wavering earlier in the session. The Dow Jones Industrial Average (^DJI), which includes fewer tech stocks, rose 0.1%.”
“The End Of The Rip-Off Economy” (The Economist). “If you know how to use artificial intelligence, it can save you a lot of time and money. Leasing a new car? Be sure to upload a photograph of the contract to ChatGPT first. Need help with a leaky tap? AI often understands the issue—and at a lower cost than a handyman. Parents with a fussy baby can now use chatbots to answer questions in seconds, rather than waiting for a doctor’s appointment. Giving Claude a PDF of a wine list is a great way to find the best-value bottles.”
“How Tim Cook Evaded Disaster At Apple This Year” (Wall Street Journal). “During Cook’s years at the helm, Apple hasn’t unveiled a revolutionary technology or introduced a new product that will reshape people’s lives the way the iPhone did. Instead, Cook, who turns 65 on Saturday, has won over shareholders by doing just enough to protect and grow the business, a conservative strategy that has been on display this year with clever political and legal maneuvering and enticing new iPhones.”
“Treasury Department Announces New Series I Bond Rate Of 4.03% For The Next Six Months” (CNBC). “The U.S. Department of the Treasury has announced new rates for Series I bonds. Newly purchased I bonds will pay 4.03% annual interest from Nov. 1 through April 30, which is up from the 3.98% yield offered through Oct. 31. The new rate includes a variable portion of 3.12%, based on inflation data, and a fixed portion of 0.90%. The combined rate is 4.03% after rounding, according to the Treasury. The fixed rate is down from 1.10% announced in May.”
“Cities Across The U.S. Are Putting Robots To Work” (Wall Street Journal). “Robots are coming to a town near you—deployed by cities to do work that is labor-intensive, repetitive or dangerous for humans. Cities have long lagged behind the private sector when it comes to giving jobs to robots. That’s because robots are expensive and work best in highly controlled environments, not exactly the definition of city streets. Questions about safety, cybersecurity and job displacement also loom large in public settings. Police robots, for example, have occasionally stirred up fears about surveillance and the potential for lethal force.”
