Good Morning Everyone!
The AI chatbot race takes off with competition heating up between:
- ChatGPT (OpenAI & Microsoft)
- Bard AI (Google)
- Ernie (Baidu)
Who will win?
Prices as of 4 pm EST, 2/6/23; % YTD
MARKET UPDATE
Tonight U.S. State of the Union
12 p.m. Fed Jerome Powell speaking
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February 1 hike 25 basis points 4.50%-4.75%
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March 22 hike 25 basis points 4.75%-5.0%
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May 3 hike or pause? 5.0%-5.25%
U.S. 30-year mortgage rates
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Down almost 1% from its high but
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Well above the 3% range from a year ago
Crude 75 +1.7%
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Impact of the earthquake in Turkey and Syria & shutdown of Johan Sverdrup
Google (NASDAQ:GOOGL)
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Testing their new AI service
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Plans a broader public launch in coming weeks
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New search engine to combat ChatGPT
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1 p.m. today Microsoft (NASDAQ:MSFT) to highlight Bing/ChatGPT combo
Earnings
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Activision Blizzard (NASDAQ:ATVI) +3% will Microsoft get approved to buy ATVI, $95 offer vs. $74 stock
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Simon Property (NYSE:SPG) flat EPS in-line, occupancy rate 94.9%, guide light
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Pinterest (NYSE:PINS) flat Q4 weaker, Q1 guide weaker, focus expense efficiency
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Take-Two Interactive (NASDAQ:TTWO) flat EPS miss, guide cut, cautionary purchasing behavior
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BP (NYSE:BP) +5% increased dividend and extended the buyback
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Fiserv (NASDAQ:FISV) +3% EPS in-line, guide better than street
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KKR (NYSE:KKR) +1% $0.92 distributable earnings vs $1.59 year ago, $500B assets
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Centene (NYSE:CNC) flat modest topline beat, guide in-line
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Carrier (NYSE:CARR) -4% in-line, orders down 10% as expected, guide in-line
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DuPont (NYSE:DD) +1% in-line, Q1 guide light similar to other chemical companies
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Royal Caribbean (NYSE:RCL) +4% loss better than expected, structural cost increases
CRYPTO UPDATE
Digital Currency Group (DCG)
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Selling shares in top funds at steep discounts
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Including Grayscale (its asset management business)
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Seeking to raise capital to pay Genesis (its lending arm) creditors
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Owes +$3 billion
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Digital asset fund flows
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4th consecutive week of inflows
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$76 million
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YTD inflows = $230 million
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Total AUM +39% ($30.3 billion)
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Bitcoin 90% of flows ($69 million)
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$8.2 million to short-Bitcoin products
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Rest of flows muted