Wall Street Today | ChatGPT Can Decode Fed Speak, Predict Stock Moves From Headlines

Richmond Federal Reserve President Thomas Barkin said he wants to see more evidence that US inflation is easing back to the central bank's goal of 2%.

Policymakers have penciled in one additional quarter-point hike this year, and markets are pricing in the likelihood of a final rate increase May 3. While inflation reports last week showed some signs of easing price pressures, most Fed officials who have spoken since have highlighted the need to do more to return price gains to their 2% target.

The US sold $57bn of three-month Treasury bills at the highest yield since 2001 on Monday, as concerns about the debt ceiling crisis have tainted bonds that mature around the time Washington is expected to run out of money.

Oil prices turned lower on Monday as the U.S. dollar strengthened and as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes.

Brent crude futures fell $1.55, or 1.8%, to settle at $84.76 a barrel, while U.S. West Texas Intermediate crude dropped $1.69, or 2.1%, at $80.83 a barrel.

SpaceX is aiming to launch its next-generation Starship rocket on April 20, the second attempt for the groundbreaking flight after a pressurization issue upended the company's initial test.

Two new papers have been published this month that deployed the artificial intelligence chatbot in market-relevant tasks — one in deciphering whether Federal Reserve statements were hawkish or dovish, and one in determining whether headlines were good or bad for a stock.

ChatGPT aced both tests, suggesting a potentially major step forward in the use of technology to turn reams of text from news articles to tweets and speeches into trading signals.

Billionaire Elon Musk said he will launch an artificial intelligence (AI) platform that he calls "TruthGPT," in an apparent challenge to ChatGPT, the popular chatbot from OpenAI.