Anthropic strikes again with new AI legal tools
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Heading into midday, 65.8% (3,655) issues are advancing against 31.3% (1,740) that are in decline. Here’s a look at the top and bottom 20 stocks in the market today:
After a tepid Monday, U.S. equities are soldiering back today amid a mix of positive catalysts, including a new AI ‘mega deal’ between AMD and Meta. The Nasdaq is now up about 1% on the day, joined by the Russell 2000, Dow, and S&P 500 in the upwards trajectory.
Good morning. The U.S. stock market is now open for the day.
Not even 24 hours after artificial intelligence (AI) company Anthropic announced new COBOL-related tools, the company announced new legal features, stirring up fresh anxiety in a sector already once-hit by the threat of AI tools.
30 minutes into the trading day, the Russell 2000 (+0.60%) and Dow (+0.43%) are officially in rebound mode today, recovering some of yesterday’s steep losses. The Nasdaq (+0.25%) and S&P 500 (+0.09%) are seeing more tepid advances. However, stocks are still rising, so these numbers could improve as the day goes on.
In the S&P 500, five sectors are advancing this morning. Among them are discretionary (+0.84%) and technology (+0.81%), which are helping keep the index in the red despite larger declines in financials (-0.73%) and energy (-0.55%).
Bolstering the AI case today, Advanced Micro Devices (+6%) announced a $60 billion deal with social giant Meta, infusing fresh optimism into the AI trade amid jitters about capital expenditure spending. The “chips for stock” will also include an option for the latter to buy up to 10% of the company.
On the flip, the controversial Citron Research is “short” hardware storage company SanDisk, one of the market’s best-performing stocks.
After a disappointing miss in a trial of its latest weight loss drug, Novo Nordisk (-2.35%) said today that it would cut the price of Ozempic/Wegovy by “up to 50%” next January, listing the meds for $675/mo, a move which might help it make a dent in the increasingly competitive GLP-1 market.
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