What we’re reading (7/30)
“It’s Not The End Of The World If The Fed Doesn’t Cut Rates Tomorrow” (CNN Business). “The Federal Reserve is all but certain to hold interest rates steady at its meeting this week. But a growing crowd of economists — among them, former Fed Vice Chair Alan Blinder and Nobel prize-winner Paul Krugman — are urging central bankers to cut now rather than at September’s meeting, when it is widely expected to do so.”
“Microsoft Has Investors Really Freaking Out About Big Tech’s AI Spending” (Business Insider). “Analysts had big expectations for Microsoft's cloud growth this quarter — and the tech giant seems to have fallen short of them even as it pumps money into its AI plans. Microsoft released its Q4 earnings Tuesday afternoon, and the company grew its Azure cloud unit's revenue by 29%. That came in slightly shy of Wedbush analysts' expectations for 30% growth in this ‘most important metric.’ Shares dropped in postmarket trading.”
“How YouTube Took Over Our Television Screens” (New York Times). “YouTube consistently ranks as the most popular streaming service on U.S. televisions, surpassing the companies it once tried to emulate. The platform’s unlikely ascent to the top of the leaderboard shows that more than a decade into the streaming era, the internet has continued to change the nature of TV and the habits of viewers.”
“OpenAI Rolls Out Voice Mode After Delaying It For Safety Reasons” (Washington Post). “OpenAI’s fans and customers have clamored for the voice mode, with some complaining online when the company delayed the launch in June. The new feature will be available to a small number of users at first, and the company will gradually open it up to all of OpenAI’s paying customers by the fall.”
“American Consumers Feeling More Confident In July As Expectations Of Future Improve” (Associated Press). “American consumers felt more confident in July as expectations over the near-term future rebounded. However, in a reversal of recent trends, feelings about current conditions weakened. The Conference Board, a business research group, said Tuesday that its consumer confidence index rose to 100.3 in July from a downwardly revised 97.8 in June. The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months.”
