Author: News Room

Alejandro Lopez-Lira, a finance professor at the University of Florida, says that large language models may be useful when forecasting stock prices.He used ChatGPT to parse news headlines for whether they’re good or bad for a stock, and found that ChatGPT’s ability to predict the direction of the next day’s returns were much better than random, he said in a recent unreviewed paper.The experiment strikes at the heart of the promise around state-of-the-art artificial intelligence: With bigger computers and better datasets — like those powering ChatGPT — these AI models may display “emergent abilities,” or capabilities that weren’t originally planned…

As Tax Day gets closer—April 18, 2023—many taxpayers are looking for ways to put a dent in their tax bills. To benefit from most tax-favored moves for 2022, like making a charitable contribution or buying new technology for the office, you needed to have taken action by December 31, 2022. But there’s a significant exception to that rule: contributing to an IRA. The deadline to contribute to your 2022 IRA is April 18, 2023. IRA IRA stands for Individual Retirement Arrangement (yes, it’s really arrangement and not account). There are two kinds of IRAs: traditional IRA and Roth IRA. A…

I remember the day well. I was sitting at my computer and all of a sudden my screen froze up and was flashing. Someone had “taken over” my computer, but offered to fix it immediately. I reluctantly paid money, but felt real stupid afterwards. Here’s what happened to me. I was pretty spooked: On my computer, I suddenly saw a glaring a pop-up window on my screen. It looked like an apocalyptical error message from antivirus software with a message in the window warning me “about a security issue on your computer” (with a phone number to get help). Such…

Computing behemoth IBM IBM is slated to report its Q1 2023 results on April 19th. We estimate that IBM’s revenue will come in at about $14.40 billion for the quarter, marginally ahead of the consensus estimate of about $14.35 billion and roughly flat versus last year. We estimate that earnings will stand at close to $1.26 per share, compared to a consensus of $1.27 per share. So, what are some of the trends that are likely to drive IBM’s earnings? We expect IBM’s core software and services operations to be one of the key drivers of growth over Q1. The…

By Ann Saphir (Reuters) – Directors at four of the 12 Federal Reserve regional banks did not want the quarter-percentage-point interest rate increase that the U.S. central bank delivered in March, but it was unclear whether they preferred a pause or a bigger hike, the Fed indicated in a footnote to the minutes from that meeting. Fed bank directors don’t vote on monetary policy, but they do express their views through non-binding votes on the discount rate, which is what the Fed charges to commercial banks for emergency loans. Fed bank presidents say their directors provide key information on the…

By Barani Krishnan Investing.com — Heightened expectations for a pause in U.S. rate hikes led to a 2% rally in crude futures for a second day in a row on Wednesday.  Oil bulls were also hyped up by speculation that the Biden administration will refill the nation’s heavily drawn down reserve — despite Energy Secretary Jennifer Granholm saying the action will only come at prices per barrel that work for American consumers. New York-traded  West Texas Intermediate, or , settled up $1.73, or 2.12%, at $83.26 a barrel, extending Tuesday’s 2.2% run-up. The session high for Wednesday itself was a…

© Reuters. Tesla (TSLA) to launch Powerwall 3 By Michael Elkins An exclusive report by Fred Lambert of Electrek.co reports that Tesla (NASDAQ:) is preparing to launch its third-generation home battery pack named Powerwall 3. Tesla launched its first-generation Powerwall back in 2015 and it almost instantly became the most popular home battery pack in the residential market. Since then, the EV maker launched a second-generation Powerwall as well as its Powerwall Plus, which included a new inverter and higher power output. Last year, Electrek reported on an internal meeting at Tesla where Seth Winger, senior manager of solar products…

The Federal Reserve has more work to do to bring inflation under control, said Richmond Fed President Tom Barkin on Wednesday. Barkin said the March consumer price data was “pretty much as expected.” He said he puts more emphasis on the core rate, which excludes food and energy prices. It is running at a 5.6% annual rate. “We had some good news on energy, but there is still more to do to get core inflation back down to where we’d like it to be,” Barkin said. He said that inflation is going to come down because demand is cooling. But…

For the second year in a row, an annual report’s findings that serious-injury rates at Amazon.com Inc.’s warehouses were more than twice the rates at other warehouses coincides with a shareholder resolution calling for an independent audit of worker health and safety. The injury rate of 6.6 per 100 workers at Amazon’s U.S. warehouses in 2022 was an improvement from last year’s rate of 6.8 per 100 workers, but still more than double that of 3.2 per 100 workers at non-Amazon warehouses, according to a report released Wednesday… Read the full article here

Warren Buffett is bullish on Japan. The legendary value investor told Japanese media that Berkshire Hathaway had increased its stake in several of the country’s trading houses recently, and that he had his eye on other investment opportunities. Japan’s Nikkei 225 index added more than 1% on Tuesday following Buffett’s remarks, versus a flat-to-down day for other Asian bourses. There’s a lot for an investor with Buffett’s proclivities to like about Japanese stocks. For starters, they are unloved. Although it has enjoyed a recent winning streak, the Nikkei 225 index is still down meaningfully from its 52-week highs last summer—and…