Google is testing a new artificial intelligence tool that can write helpful news articles, in the latest sign that the technology may transform or potentially replace some white-collar professions. Google’s upcoming “Genesis” AI tool is being designed to act as a helpmate for journalists in the newsroom, anonymous sources told The New York Times in an exclusive July…
Google Testing New AI Tool That Can Write News Articles
July 20, 2023
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How Major US Stock Indexes Fared July 20
Drops for Tesla, Netflix, and other big tech-oriented stocks are clamping the brakes on Wall Street’s torrid rally. The S&P 500 fell 0.7 percent Thursday, coming off its highest close since early April 2022 and its seventh gain in the last eight days. The Nasdaq lost 2.1 percent, its biggest drop in more than four…
JPMorgan Chase CEO Jamie Dimon Lists a Number of Threats to the US Economy
July 20, 2023
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JPMorgan Chase CEO Jamie Dimon listed three major threats to the U.S. economy in a recent comment during the bank’s second-quarter earnings call, according to the transcript. The banking giant’s July 14 second-quarter results showed revenue and earnings exceeding economists’ expectations, but the JPMorgan chief stands on the side of caution. JPMorgan reported net income…
Nasdaq, S&P 500 Slide at Open as Tesla, Netflix Drag
The tech-heavy Nasdaq and the S&P 500 fell on Thursday, dragged down by Tesla over price cut concerns, while Netflix slid after its quarterly revenue missed analysts’ estimates. The Dow Jones Industrial Average rose 30.77 points, or 0.09 percent, at the open to 35,091.98. The S&P 500 opened lower by 11.34 points, or 0.25 percent,…
Housing Starts Tumble Despite Signs of an Improving Home Sales Market
July 20, 2023
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The number of housing starts tumbled last month, despite signs that the home sales market is heating up again after falling. Housing starts take into account the change in the number of new residential buildings beginning construction. New single-family home construction fell 8 percent from May to June, according to July 19 report from the U.S. Census…
Musk Open to Price Cuts as Tesla Bets on Self-Driving Future
Elon Musk is prioritizing sales over profits in hopes that Tesla’s full self-driving software would eventually burnish margins, a plan that could deepen an already fierce price war in the electric-vehicle industry. Shares of the automaker fell 3 percent before the bell on Thursday after Mr. Musk signaled there might not be any let-up in…
Dollar Steadies After One-Two Punch From Aussie, Chinese Yuan
LONDON—The dollar held mostly steady against the euro and the yen on Thursday, but dropped against the Australian dollar after domestic job data beat expectations, and against the yuan, which received a lift from Chinese monetary authorities. The dollar is heading for its first weekly gain in nearly a month against a basket of currencies,…
Oil Edges Higher on Lower US Crude Stocks, Cautious Outlook
LONDON—Oil prices crept higher on Thursday as a lower-than-expected drop in U.S. crude inventories and a weaker demand outlook kept investors cautious. September Brent futures climbed 6 cents, or 0.1 percent, to$79.52 a barrel by 0929 GMT, while August U.S. West Texas Intermediate (WTI) crude gained 21 cents, or 0.3 percent, to $75.56 a barrel….
Stocks Shuffle Sideways, China Drips in More Support
July 20, 2023
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LONDON—World share markets shuffled sideways on Thursday as investors looked ahead to a clutch of key central bank meetings next week and disappointing earnings from Netflix and Tesla pushed Wall Street futures lower. There had been pockets of gains in Asia and in commodities markets overnight after China pledged some additional support for its economy…
SEC Requests Bigger Budget to Tackle ‘Wild West of the Crypto Markets’
July 20, 2023
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Securities and Exchange Commissioner (SEC) Chair Gary Gensler supported the White House’s budget boost request for the stock market watchdog. But Mr. Gensler warned that the funds appropriated were tens of millions of dollars less than what his federal agency originally requested for the upcoming fiscal year. The Senate Appropriations Committee appropriated $2.4 billion to…
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