What you need to know today
Google’s answer to ChatGPT
Google owner Alphabet’s shares jumped 5% Thursday, a day after the company announced its latest artificial intelligence model, Gemini, that will compete with OpenAI, Microsoft and Meta offerings. The company will start licensing Gemini to customers through Google Cloud later this month — it remained unclear whether Google plans to monetize Gemini through all of its products in the long term.
Bye, losing streak
Wall Street’s main indexes rose Thursday, with the Dow Jones Industrial Average and the S&P 500 snapping three-day losing streaks. The Nasdaq Composite closed 1.37% higher, leading gains on a tech-driven rally. The 30-stock Dow added 0.17%, while the S&P 500 climbed 0.8% ahead of Friday’s all-important jobs report. Asia-Pacific markets were mixed, with Japan’s Nikkei 225 down 1.91% and Korea’s Kospi up 1.02%.
AMD ups the ante
$Advanced Micro Devices (AMD.US)$ launched new artificial intelligence chips on Wednesday that will compete against Nvidia to power AI applications. Shares of the chipmaker surged 9.9% Thursday to close at $128.37, marking its best day since May and the highest close since June. Nvidia has dominated the AI chip market for the past year, but cloud providers and technology companies have been searching for a flexible alternative to save costs.
No yoga pants this Christmas
Lululemon, known for its yoga pants and belt bags, issued a tepid fourth-quarter outlook. The retailer said it was expecting sales between $3.14 billion and $3.17 billion during the quarter, just shy of analysts’ estimate of $3.18 billion, according to LSEG. This despite the company seeing strong third-quarter demand and a positive start to the holiday shopping season. $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$
Google owner Alphabet’s shares jumped 5% Thursday, a day after the company announced its latest artificial intelligence model, Gemini, that will compete with OpenAI, Microsoft and Meta offerings. The company will start licensing Gemini to customers through Google Cloud later this month — it remained unclear whether Google plans to monetize Gemini through all of its products in the long term.
Bye, losing streak
Wall Street’s main indexes rose Thursday, with the Dow Jones Industrial Average and the S&P 500 snapping three-day losing streaks. The Nasdaq Composite closed 1.37% higher, leading gains on a tech-driven rally. The 30-stock Dow added 0.17%, while the S&P 500 climbed 0.8% ahead of Friday’s all-important jobs report. Asia-Pacific markets were mixed, with Japan’s Nikkei 225 down 1.91% and Korea’s Kospi up 1.02%.
AMD ups the ante
$Advanced Micro Devices (AMD.US)$ launched new artificial intelligence chips on Wednesday that will compete against Nvidia to power AI applications. Shares of the chipmaker surged 9.9% Thursday to close at $128.37, marking its best day since May and the highest close since June. Nvidia has dominated the AI chip market for the past year, but cloud providers and technology companies have been searching for a flexible alternative to save costs.
No yoga pants this Christmas
Lululemon, known for its yoga pants and belt bags, issued a tepid fourth-quarter outlook. The retailer said it was expecting sales between $3.14 billion and $3.17 billion during the quarter, just shy of analysts’ estimate of $3.18 billion, according to LSEG. This despite the company seeing strong third-quarter demand and a positive start to the holiday shopping season. $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$
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