Fed’s Barkin says rate hikes are still on the table if inflation doesn’t continue to ease
Markets largely expect that the Fed has stopped raising rates and will start cutting in 2024.
U.S. GDP grew at a 5.2% rate in the third quarter, even stronger than first indicated
The acceleration topped the initial 4.9% reading and was better than the 5% Dow Jones forecast.
GM says union labor deals will increase costs by $9.3 billion
The UAW’s targeted strikes, which ended in late October, cost GM $1.1 billion in adjusted earnings before interest and tax, or EBIT, in 2023.
‘It’s beginning to look a lot like VIX-mas.’ What Wall Street’s fear gauge is saying right now
A popular measure of volatility is drawing attention as it drops to fresh lows. But some investors are worried it could be a precursor to a bearish surprise ahead.
GM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes
GM pulled its guidance when it reported its third-quarter earnings on Oct. 24, citing volatility caused by the UAW negotiations and labor strikes.
Mortgage demand from homebuyers gets a boost as interest rates continue to fall
Mortgage applications to purchase a home increased 5% for the week but were still 19% lower than the same week one year ago.
Okta hackers stole data on all customer support users in major breach
The hack was worse than initially believed, with every client having some data stolen in the breach, the cybersecurity company warned.
OpenAI rival Hugging Face says it’s seeing more client interest after Sam Altman fiasco
Hugging Face and Cohere, which compete with OpenAI, have both said they’ve seen increased inquiries from clients following the drama surrounding Sam Altman
Disney CEO Bob Iger tells employees he wants to start building again during town hall
Disney CEO Bob Iger told employees he looks forward to building again after cuts and “fixes” defined 2023.
Amazon announces new AI chip as it deepens Nvidia relationship
AWS will host a computing cluster for Nvidia to use. Simultaneously, AWS announced a new chip for training AI models, an Nvidia GPU alternative.
