Stocks Hit Highs and Apple's EU Warning | Bloomberg Technology
20 Sep 2024 (6 days ago)
Federal Reserve and Interest Rates
- The Federal Reserve implemented a larger-than-expected rate cut of 50 basis points, leading to a positive response from the stock market, particularly the Nasdaq 100.
- Hill believes that while the exact timing and magnitude of future rate cuts are uncertain, the overall trend points towards lower rates, which bodes well for growth and the broader market outlook.
Market Outlook and Potential Growth
- While acknowledging the recent success of AI and mega-cap stocks, Zachary Hill suggests that a broader market rally may be in order, potentially benefiting small-cap and regional bank stocks.
- Almost half of the Federal Open Market Committee documented support for only one more interest rate cut in 2019.
European Economic Outlook
- The European Central Bank has a 25% chance of cutting interest rates in October.
Apple and the European Union
- The European Union has issued a warning to Apple to open up its operating systems to rival technologies or potentially face fines.
Latvia and Artificial Intelligence
- Latvia is creating an Artificial Intelligence center to address security concerns such as deepfakes and election interference, but also to create a competitive environment for the country in the field of AI.
Latvia and NATO
- Latvia's president believes that NATO should adopt a policy of shooting down drones that enter its airspace, citing a recent incident where a drone suspected to have come from Ukraine crashed in Latvia.
Latvia and the Ukraine War
- Latvia's president believes that Ukraine should be allowed to use all weapon systems provided to them, including longer-range technology, to defend against the Russian invasion, dismissing concerns about escalation.
Russia and the Ukraine War
- Russia will not engage in diplomatic talks until they are stopped from making advances in Ukraine.
- The president of Latvia believes that Russia will not engage in any political processes until after the United States' 2024 presidential election.
Elon Musk and X (formerly Twitter) in Brazil
- Elon Musk's company X was able to circumvent a ban in Brazil by routing their traffic through IP addresses used by popular Brazilian websites.
- Elon Musk, owner of X (formerly Twitter), is involved in a dispute with a Brazilian Supreme Court judge over content moderation and what the judge describes as a need to reduce the spread of hate speech.
- While there were reports that X would become available again in Brazil, the ban remains in place for most users.
AI in Finance
- Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), believes that while AI can improve access to financial markets, its use in finance could lead to market turmoil if too many brokers and money managers rely on the same AI models and data.
Intelligent Alpha and Chatbot ETF
- Intelligent Alpha has created an ETF powered by a chatbot that learns from inputs about how humans invest.
- The chatbot ETF, launched by Intelligent Alpha, focuses on investments in AI, Asia, Latin America, and defensive stocks.
- Intelligent Alpha uses large language models (LLMs) to make investment decisions by inputting an investment selection universe and a curated philosophy based on the writings and sayings of investors like Warren Buffett.
- Intelligent Alpha uses and pays for large language models (LLMs) through application programming interfaces (APIs) to improve its investing models.
Chip Startup Ampere
- Chip startup Ampere is working with a financial advisor to explore a potential sale to a larger company in the industry.
Midi Health and Women's Healthcare
- Midi Health, a virtual care clinic focused on women's health, raised $60 million in a funding round in April, with investors including prominent women in business, entertainment, and athletics.
- Midi Health is focused on expanding access to healthcare through insurance coverage, aiming for 70% coverage of women on PPO plans by the end of the year and inclusion of Medicare the following year.
- The company's $63 million Series B funding and $5 million SPV will be allocated towards talent acquisition, lobbying efforts to secure insurance deals, platform development, and the creation of new care protocols in areas like longevity and breast survivorship.
- Midi Health is dedicated to providing expert care by training providers and developing new care protocols in response to the evolving needs of women seeking their services.