- U.S. indices gain slightly at the start of the week
- US100 in the 16,000 point zone
- Sam Altman and Greg Brockman are both moving on to Microsoft
Indices on Wall Street started today's trading slightly higher. The S&P 500 and Nasdaq gained 0.2% and 0.46% at the opening, respectively, while the Dow Jones rose 0.1%. The economic calendar for today is empty, but investors are primarily focused on the departure of OpenAI co-founders Sam Altman and Greg Brockman and their move to Microsoft.
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The US100 index is starting today's session higher and approaching the psychological 16,000-point zone, which, along with the level near 16,060 points (local peaks from the second half of July 2023), is now the most important resistance structure for the US100.
News
Microsoft (MSFT) shares are gaining 1.0% following the announcement that OpenAI co-founders Sam Altman and Greg Brockman have been hired to lead a new AI research team in MSFT. As WSJ reports, there is a lot going on at OpenAI itself. More than 500 of the company's employees have signed a letter to the board announcing that they will leave the company and move to MSFT if the company's board does not resign and Sam Altman and Greg Brockman do not return to their positions.
The company's shares are back to historic highs. Source: xStation5
Boeing (BA.US) shares are gaining 1.4% on the back of an upgraded recommendation on the company's stock by Deutsche Bank. The financial institution is raising its price to "buy" in view of the accelerating pace of new orders for the company's aircraft.
Citigroup (C.US) will lay off nearly 300 employees in managerial roles in connection with the bank's biggest reorganization plan in decades. At the start of the session, Citi's shares are not seeing excessive price deviations.
Chegg (CHGG.US) shares are losing 3.5% after Morgan Stanley downgraded the company, forecasting weaker trends in October and more competition from AI in the longer term.
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