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Real-time News
On October 16th, sources familiar with the matter revealed that Ke Yang, an Apple (AAPL.O) executive responsible for developing AI-powered web search, is leaving the company to join Meta Platforms (META.O), continuing a wave of departures from Apples AI division. Just weeks ago, Ke Yang was appointed head of the AKI (Answers, Knowledge, and Information) team, which is developing features to make the Siri voice assistant more like OpenAIs ChatGPT by scraping information from the web. The team is a core part of Apples major Siri overhaul, scheduled for March of next year. This overhaul is part of Apples broader effort to revitalize its struggling AI business.1. The three major US stock indices closed mixed, with the Dow Jones Industrial Average down 0.04%, the S&P 500 up 0.4%, and the Nasdaq up 0.66%. Honeywell International fell nearly 3%, and Travelers Group fell over 2%, leading the Dow lower. Google rose over 2%, and Tesla rose over 1%. Chip stocks generally rose, with AMD rising over 9% and Ketian Semiconductor up over 5%. Most Chinese concept stocks rose, with New Oriental up over 10% and TAL Education Group up over 4%. The US government shutdown entered its third week, exacerbating current uncertainty. 2. The three major European stock indices closed mixed, with Germanys DAX down 0.23%, Frances CAC 40 up 1.99%, and the UKs FTSE 100 down 0.3%. European stock performance was influenced by factors such as easing geopolitical risks, improving market sentiment, and diverging sector performance. 3. U.S. Treasury yields were mixed, with the 2-year Treasury yield rising 1.04 basis points to 3.499%, the 3-year Treasury yield rising 1.65 basis points to 3.503%, the 5-year Treasury yield rising 1.39 basis points to 3.619%, the 10-year Treasury yield rising 0.37 basis points to 4.032%, and the 30-year Treasury yield falling 0.10 basis points to 4.628%. 4. Last week, U.S. API crude oil inventories increased by 7.36 million barrels, with the WTI crude oil contract trading at $58.75 per barrel; the Brent crude oil contract rose 0.13% to $62.47 per barrel. 5. International precious metal futures generally closed higher, with COMEX gold futures rising 1.48% to $4,224.90 per ounce and COMEX silver futures rising 3.76% to $52.53 per ounce. The ongoing U.S. federal government shutdown has raised market concerns about the economic outlook. 6. Most of the base metals in London rose, with LME tin futures up 0.54% at $35,380.00/ton, LME aluminum futures up 0.26% at $2,744.50/ton, LME lead futures up 0.20% at $1,986.00/ton, LME nickel futures up 0.10% at $15,150.00/ton, LME copper futures down 0.02% at $10,576.00/ton, and LME zinc futures down 0.03% at $2,940.50/ton.Market news: Ke Yang, Apples AI research director responsible for benchmarking ChatGPT business, will jump to Meta.On October 16, Barclays Bank projected that quarterly U.S. economic growth would average approximately 2% from the third quarter of 2025 to the third quarter of 2026. This forecast reflects a still-robust economic expansion, but the pace of growth will moderate as fiscal stimulus fades and trade headwinds persist. The bank stated that recently implemented tariffs will have a "slow-down" effect on economic activity, with most businesses expecting to gradually pass on higher import costs rather than trigger an immediate price spike. This could ease inflationary pressure in the short term but prolong the pressure on corporate profit margins. Barclays also warned that the main downside risks to its economic outlook stem from slowing consumer spending and a potential rise in unemployment, which could dampen confidence and discretionary demand heading into 2026.Nvidia CEO Jensen Huang sold 225,000 shares of Nvidia stock.
