2 'Big Short' traders say they're staying out of AI and looking for deals in another corner of the market
"We sit here and we're scouring the globe, and everyone's losing brain cells around AI," Porter Collins of "The Big Short" fame said.
"We sit here and we're scouring the globe, and everyone's losing brain cells around AI," Porter Collins of "The Big Short" fame said.
Meta's earnings call is today at 5 pm ET. META stock heads into the report up 15% YTD. Analysts are focused on AI monetization efforts and DeepSeek.
"In our view this is a correction and not the start of a sustained bear market," Goldman Sachs said. DeepSeek sparked a $1 trillion market rout on Monday.
Meta Platforms Inc. posted sharply higher profit and revenue for its fourth quarter on Wednesday, thanks to higher ad revenue on its social media properties, sending its shares up in after-hours trading even as it forecast increasing expenses on its artificial intelligence efforts. CEO Mark Zuckerberg said he expects 2025 to “be the year when a highly intelligent and personalized AI assistant reaches more than 1 billion people, and I expect Meta AI to be that leading AI assistant.” “We continue to make good progress on AI, glasses, and the future of social media,” Zuckerberg said in a statement.
DeepSeek’s success initially rattled investors’ assumptions about the AI spending wave that has swept through Silicon Valley in recent years.
Shares in Royal Caribbean hit another record high Wednesday after soaring yesterday following a better-than-expected earnings report from the cruise line operator. Monitor these important chart levels.
Tesla’s fourth-quarter net income fell 71% from a year ago when results were boosted by a one-time tax benefit. The latest results fell short of Wall Street forecasts. The electric vehicle, battery and robotics company run by Elon Musk said Wednesday that it made $2.31 billion from October through December, less than the $7.93 billion profit it posted in the same period in 2023.
Ameriprise Financial reported a 24% rise in fourth-quarter profit on Wednesday, driven by a higher fee income as the value of its clients' assets increased due to a market rally. The U.S. markets rallied on Federal Reserve's interest rate cuts and they were further boosted by business-friendly comments from President Donald Trump, who is expected to ease regulations. Ameriprise's assets under management and administration came in at $1.52 trillion in the quarter, a 10% jump from last year.
Sagging tech stocks weighed on US indexes, as Wall Street rethinks AI leadership after the arrival of DeepSeek, a Chinese disruptor claiming big results at a smaller cost. With many Asian markets still closed for the Lunar New Year, Japan's Nikkei 225 will carry the baton after pretty much cueing off Wall Street's ups and downs all week. The S&P 500 and Nasdaq briefly extended losses after the Federal Open Market Committee closed out its two-day policy meeting with hawkish hold that left markets thinking rates might not come down again for a while, if at all.
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