Here is a rundown of Cheddar News' top trending market stories of the day.
TECH EARNINGS AHEAD
It's going to be a busy week for Wall Street. The Federal Reserve is announcing its next rate hike on Wednesday, and Big Tech is dropping a slew of quarterly results. Meta is releasing earnings on Wednesday, and Amazon, Apple, and Google parent Alphabet are all releasing on Thursday. Traders are betting that the Fed delivers a modest 25 basis point hike, marking a deceleration of this tightening cycle. As for the earnings, investors will be tuned in for signs of how the tech sector might fare in the coming year after several high-profile rounds of layoffs.
MICROSOFT COPYRIGHT SUIT
Microsoft and OpenAI requested that a San Francisco court toss out a class-action lawsuit accusing the firms of improperly monetizing open-source code in their artificial-intelligence systems. The companies said the anonymous copyright owners who filed the complaint were not specific enough in their allegations. The plaintiffs maintain that they used the open source code in a program called Copilot without complying with licensing terms.
AMAZON ADD GROCERY FEES
Amazon is adding a fee to Fresh grocery orders that cost less than $150. It said the extra charge is designed to keep prices down across its services. The delivery fee is $9.95 for orders under $50, $6.95 for orders between $50 and $100, and $3.95 for orders between $100 and $150. “This service fee will help keep prices low in our online and physical grocery stores as we better cover grocery delivery costs and continue to enable offering a consistent, fast, and high-quality delivery experience,” the company said.
Fresh off his unanimous appointment as interim CEO, Dax Dasilva shares his strategy for Lightspeed and why growth and profitability are his biggest focus.
Eddie Ghabour, co-founder and owner of KEY Advisors Wealth Management, explains why he’s investing in India, what could happen if inflation rises again, and the long-term ‘debt bubble’ looming.
The company behind Squishmallows says Build-A-Bear's new Skoosherz toys are a copy of their own plushies. Build-A-Bear filed their own suit basically responding, "No they're not!"
While tech employees worry about artificial intelligence taking over their jobs, Microsoft says Iran, North Korea, and more U.S. adversaries are beginning to use AI in cyber spying.
The self-proclaimed "only Post who worked at Kellogg" was a military veteran who fought in World War II before inventing everyone’s favorite fruit-filled breakfast ravioli.
Kevin Gordon, Senior Investment Research Manager at Charles Schwab, shares his thoughts on how investors can take advantage of the current bull market while keeping in mind the impacts of Fed policy and inflation.
Lab-created diamonds come with sparkling claims: that they are ethically made by machines running on renewable energy. But many don't live up to these claims or don't respond to questions about their electricity sources, and lab diamonds require a lot of electricity.
