Nov 23rd, 2023 – Today the New York Stock Exchange is closed, as it is Thanksgiving
Optimism towards Black Friday, happening this week, is decreasing as retailers cast doubt on holiday spending. Many companies reduced their outlooks or forecast after dynamics of a slowdown in spending came to light. There’s a widespread sense of uncertainty in consumer spending, after months of persistent inflation, which cast an overwhelming feeling of volatility and lack of confidence in consumer markets. This comes around just at the beginning of holiday spending, which in the last years saw an incredible growth following expansionary fiscal and monetary policies. (G.Fonrouge)In the last couple of days the drama surrounding OpenAI and the departure and return of Sam Altan have been in the headlines of all news’ outlets. This drama could benefit Meta with its open-source Llama AI initiatives and may also help with recruiting. It may also help giving technologists looking to work in the private sector comfort after seeing the near collapse of one of the leading AI companies. (J.Vanian)
Author: Luca Dodi Sesena