Nasdaq rallies ~0.7%, S&P 500 up modestly, Dow dips
Comm svcs lead S&P 500 sector gainers; Utilities weakest group
Dollar ~flat; gold down ~1; crude, bitcoin both off >2%
US 10-Year Treasury yield falls to ~4.13%
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THE ROBOTS ARE COMING! OR ARE THEY?
The rise of artificial intelligence, which sounds like something out of a dystopian thriller, has economists (and everyone else) wondering about the extent to which the nascent technology will displace workers.
Oxford Economics published a report on Tuesday on that very topic.
"Anecdotal evidence suggests jobs are already being lost in sectors vulnerable to AI automation," writes Ben May, Director of Global Macro Research at the advisory firm. "Overall, though, firms don't appear to be replacing workers with AI on a significant scale and we doubt that unemployment rates will be pushed up heavily by AI over the next few years."
In its November report on planned layoffs, Challenger, Gray & Christmas says AI was responsible for 54,694 job cuts in the first 11 months of 2025.
"Since 2023, when this reason was first cited, AI has led to 71,683 job cut announcements," the report says.
Challenger Gray's December/year-end data is expected on Thursday.
But Oxford Economics sees no cause for alarm.
"We're sceptical that firms can quickly and seamlessly substitute workers with AI even in sectors where the potential for AI disruption is greatest," May adds. "What's more, some surveys suggest that AI use in larger US firms has recently stalled."
(Stephen Culp)
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EARLIER ON LIVE MARKETS:
BOFA CLIENTS TOOK A LIKING TO SMALL CAPS IN 2025 CLICK HERE
DATA SMORGASBORD: JOLTS, ADP, SERVICES PMI, FACTORY ORDERS, MORTGAGE DEMAND CLICK HERE
US STOCKS PUSH PAUSE, BUT MILESTONES BECKON CLICK HERE
DOW INDUSTRIALS HAS 50K IN ITS SIGHTS CLICK HERE
UK HOUSEBUILDERS AT A TIPPING POINT CLICK HERE
AMUNDI CALLS FOR DIVERSIFICATION AS AI INVESTMENT CYCLE BROADENS CLICK HERE
EUROPE'S AUTO SECTOR REMAINS BLEAK, BUT IS IT PRICED IN? CLICK HERE
ANOTHER MIXED START CLICK HERE
EUROPE BEFORE THE BELL: FUTURES MOSTLY HIGHER CLICK HERE
THE SPOILS OF OIL CLICK HERE
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