Fed Depends on Troubled Data. That's a Problem

The Bureau of Labor Statistics has revised payrolls downward by 124,000 jobs so far this year. The revisions reduced January's initially reported gain of 353,000 -- a shockingly outsize number -- and brought the average monthly pace of job growth down to a more reasonable 256,000 level through April.

Barron's04:31 ET

Tesla Analyst Sees Annual Shareholder Meeting As Key To Determining Elon Musk-Led Company's Future Strategy

Morgan Stanley analyst Adam Jonas sees Tesla upcoming shareholder vote driving material volatility in the stock and determining the company's long-term strategic direction as company CEO Elon Musk's pay package hangs in limbo.

Benzinga04:22 ET

OpenAI Top Exec Says It's Too Early To Gauge AI's Full Economic Impact: 'We've A Year To Reshape The Economy? That's A Tall Order'

Speaking at Bloomberg's Tech Summit, Lightcap said that the rise of generative AI has not yet significantly transformed the economy. However, he and other AI leaders anticipate more substantial changes in the future.

Benzinga04:21 ET

Stocks Lift Off, but Earnings Could Bring Them Back to Earth

Things on Wall Street and Main Street seem to be moving in opposite directions. The S&P 500 index has returned to within 1% of its record high, while the University of Michigan's latest reading of consumers' attitudes about the economy took a tumble to a six-month low. So, in this tale of two tallies, is it the best or worst of times?

Barron's02:11 ET

Chinese Tesla Rival Zeekr Soars 35% On NYSE Debut, Valuation Hits $6.8B

New York-listed shares of ZEEKR Intelligent Technology Holding Limited (NYSE:ZK) closed nearly 35% higher than its initial public offering price on its first day of trading on Friday.

Benzinga00:21 ET

OpenAI's Sam Altman Shoots Down Search Engine And GPT-5 Rumors, Teases May 13 Event: 'Some New Stuff...People Will Love'

Sam Altman, the CEO of OpenAI, shot down rumors that the AI startup is developing a search engine or launching GPT-5. Instead, he confirmed that a May 13 event is scheduled to talk about "some new stu

Benzinga23:08 ET