Magnificent Seven Momentum and GameStop's AGM | Bloomberg Technology

18 Jun 2024 (6 months ago)

Stock Market and Economy

The stock market is on pause as investors await the Federal Reserve's comments on interest rates and monitor political tensions in Europe.
Inflation is cooling down, but the Federal Reserve is still far from its target, with goods deflation but sticky service prices and housing costs.
The Federal Reserve may not raise interest rates in December due to political risks in France and the upcoming US elections.
Investors should hold cash and look for opportunities in unloved sectors like small and mid-cap stocks, which are relatively cheap compared to large-cap stocks.

Artificial intelligence (A.I.) is evolving and will benefit various industries, not just technology. Investors should look for companies that will benefit from implementing A.I.
Infrastructure development is needed to support the growth of A.I. and other technologies.
Google has reorganized its A.I. labs, combining Google Brain and Deep Mind into a single unit called Google Deep Mind.
DeepMind's cutting-edge AI research is not always connected to Google's commercial services.
Google is attempting to shift DeepMind's focus towards product development, with Gemini being a flagship product competing with OpenAI.
Hugging Face, an AI startup, has acquired a Spanish company called Argilla for $10 million. Argilla specializes in data sets for AI, which are essential for machine learning and AI growth.
Apple's recent unveiling of AI features for the iPhone has generated excitement among consumers, potentially challenging Microsoft's previous lead in AI integration.

GameStop's annual meeting, delayed due to technical issues, is rescheduled for today at 12:30 PM local New York time.
Keith Gill, a prominent GameStop investor, has shifted his holdings from options to actual shareownership, becoming a top four holder with over nine million shares.
Ryan Cohen, co-founder of Chewy and current Chairman, CEO, and President of GameStop, is the focus of attention due to his potential plans to transform the company.

Adobe is facing legal action from the FTC for allegedly deceiving consumers with hidden early termination fees and difficult subscription cancellation processes.
The U.S. Supreme Court has agreed to review a case involving NVIDIA's cryptocurrency mining revenue, with the company seeking to stop a lawsuit accusing it of being deceptive about its revenue.

The box office saw its biggest debut since Barbie, with Inside-Out 2 drawing crowds back to theaters and potentially helping AMC's attendance records.
Disney's recent success at the box office, particularly with "Inside-Out 2," demonstrates that the right movie, released at the right time, can attract audiences back to theaters.
Streaming platforms are investing in "appointment television," creating highly anticipated content that draws viewers to their platforms.
Audiences are embracing both theatrical releases and streaming content, seeking out a variety of entertainment options.