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Real-time News
July 2 – Microsoft (MSFT.O) is forming a new 6,000-person division to help enterprises with the technical and strategic work of deploying artificial intelligence. Microsoft stated that the divisions employees will possess extensive experience in engineering, corporate training, and management, as well as industry-specific expertise. Judson Altoff, CEO of Microsofts Commercial Business, said that closer collaboration with customers will help them implement AI more efficiently and will also inform Microsofts own product development decisions.July 2 – Tesla (TSLA.O) sales significantly exceeded Wall Streets previously conservative expectations, bucking the trend of slowing growth in the global plug-in electric vehicle market. The company delivered 480,126 vehicles globally in the second quarter. This figure surpassed the average forecast of 396,466 vehicles compiled by Bloomberg. Deliveries increased by 25% compared to the same period last year. Last year, Tesla CEO Elon Musk faced widespread consumer criticism for his controversial performance under the Trump administration. Despite the improved sales, many who follow Musk are shifting their focus from Teslas core electric vehicle business to the CEOs vision of making artificial intelligence, self-driving cars, and robotics the primary revenue streams in the future. They also increasingly anticipate that Musk might choose to merge Tesla (TSLA.O) with SpaceX, which completed a record initial public offering (IPO) last month.July 2nd - Following the release of the latest U.S. government jobs data, markets on Thursday bet that the case for a Federal Reserve rate hike later this month has significantly weakened due to a marked slowdown in job growth. The closely watched jobs report released Thursday by the Bureau of Labor Statistics showed that nonfarm payrolls increased by 57,000 in June. This was roughly half of economists expectations. Mays job growth was revised down to 129,000 from the initially reported 172,000. Seema Shah, chief global strategist at Principal Asset Management, wrote, "The slowdown in job growth challenges expectations of a labor market recovery in recent months, but more importantly, it reinforces the view that the Fed faces little pressure to tighten policy." Short-term interest rate futures traders now believe the probability of a July rate hike has fallen below 20%, but still see a higher probability of a September rate hike.Tesla (TSLA.O) shares rose more than 2% in pre-market trading but have since fallen back to less than 1%. Total deliveries in Q2 were 480,126 vehicles, exceeding market expectations.Tesla (TSLA.O): Deployed 13.5 gigawatt-hours of energy storage products in the second quarter.
