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Archives by Year:
OpenAI to remove nonprofit control as CEO Sam Altman gains first equity stake
Key Takeaways OpenAI is restructuring from a nonprofit to a for-profit benefit corporation. CEO Sam Altman to receive equity in the newly structured OpenAI. Share this article OpenAI, is planning a significant restructuring that will see its nonprofit board relinquish control over its for-profit business, according to Reuters. The restructuring would transform OpenAI into a […]
40% Inventory Surge Striking Fear In Home Sellers In More And More States
Image Source: Pexels The US housing market remains in uncharted territory.Median — not average — existing home prices hit another all-time high last month, yet transaction volumes are at lows not seen for decades.And potentially changing the game from here is that mortgage rates are likely headed downwards now that the Federal Reserve is cutting interest […]
What’s Changed? What’s Different This Time?
Image Source: Pexels Causes generate effects. As noted in my previous post, if causal conditions have changed, the “guarantee” offered by statistics is empty. This leads to a simple question: what’s changed? Have the causal conditions changed enough to generate different results? The status quo assumes the economy never really changes, and so the stimulus that worked last time […]
Copper Price Analysis: Does This Rally Have More Room To Run?
↵Image Source: Pixabay Copper price has continued to find support from central banks’ aggressive measures. In particular, Fed’s super-sized rate cut and PBoC’s stimulus package has boosted the red metal. Comex copper futures rallied to a fresh 10-week high of $4.55 per pound earlier on Wednesday before pulling back slightly. As at the time of writing, […]
Record Long Gold Positioning
Image Source: Pixabay As we do at the start of each week, in Monday’s Closer we recapped the latest positioning data from the CFTC’s Commitments of Traders report.In essence, this data highlights whether traders are in aggregate positioned long or short in various futures contracts.In the charts below, we show the historical net percentage of open interest net […]
OpenAI CTO Mira Murati exits after pivotal role in AI development
Key Takeaways Mira Murati has been a key figure in developing OpenAI’s flagship products like ChatGPT. Murati’s departure is announced just before OpenAI’s major annual developer conference. Share this article OpenAI’s Chief Technology Officer Mira Murati has announced her decision to leave the artificial intelligence company after six and a half years. I shared the […]
The Low Consumer Sentiment/Confidence Puzzle Resolved?
In the past few years, a persistently low level of consumer sentiment, as measured by the University of Michigan, Conference Board, or Gallup surveys, relative to conventional economic measures has puzzled analysts, including this one [1] [2] [3] [4] [5]. This puzzle is illustrated by the evolution of the U. Michigan series (FRED series UMCSENT), and the fitted values using […]
Dow Pulls Back From Record, Snaps Win Streak
The Dow scored yet another record high today before reversing gains and settling with a 293-point loss, bringing its four-day win streak to a sharp end. The S&P 500 notched an all-time high before inching into the red as well, while the Nasdaq eked out a third consecutive daily win thanks to Big Tech gains. Amid the […]
Micron Surpasses Q4 Earnings And Revenue Estimates
Image Source: Unsplash Micron (MU Quick QuoteMU – Free Report) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.10 per share. This compares to loss of $1.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 7.27%. A quarter ago, it […]
China On The Edge Of Recession
↵Image Source: Unsplash China is on the edge of recession — excluding Covid, for the first time since 2008 — as new data showed all-important manufacturing contracted for the fourth month in a row with particular weakness in new orders.In other words, what they’ve got is a backlog, then it’s a cliff.Manufacturing makes up a third […]
