To The Moon

On Tue, 29 Aug - it was (a) JOLTs and (b) CB Consumer’s confidence report that gave US market the much-needed boost to trend higher. On Wed, 30 Aug - it was (c) ADP employment data and (d) US Q2 GDP 2nd estimates that continued the good work. By the time trading drew to a close: DJIA: +0.11% (+37.57 to 34,890.24). S&P 500: +0.38% (+17.24 to 4,514.87). Nasdaq: +0.54% (+75.55 to 14,019.31). Managed to crawl back to the 14,000 level. On Tuesday & Wednesday, stocks jumped after official data was released in the mornings. The ADP National Employment reported private payrolls rose by 177,000 jobs in Aug 2023 (see above). Versus 195,000 jobs estimates forecasted by Economist polled by Reuters. More importantly, it is a drastic fall of -194,000 job openings or -52.29% from July’s 371,000 jobs. This latest data is clearly indicating that the labor market is losing steam, though it remains tight. This is exactly what the Fed would like to see prior to September’s FOMC meeting. On Wed, 30 Aug 2023 - US’s Gross Domestic Product (GDP) 2nd estimate was released (see above). This time it showed that US economy grew by grew +2.1% in Q2 2023; compared with a previous official estimate of 2.4%. The above data set gives many hopes for a "soft landing" for the economy. With the 2nd set of data released yesterday, the CME Fedwatch tool on the probability of the Fed keeping terminal rate intact (as is) or hike it by another 25 bps changed. Please find the CME Fedwatch tool data for last week and the latest (see below). On a lighter note, the fate of $Alphabet(GOOG)$ seems to be turning for the better. In my yesterday post (click here! to read & give a “Like” ok) I have shared the partnership between Google Cloud & Nvidia might be a “ticket” for Google to advance in Cloud computing arena. In a separate post (see above), Google is giving $Microsoft(MSFT)$ a run for their money on their own turf. Here’s the skinny: Google Duet is a new feature that allows users to interact with Google Assistant on their mobile devices in a more natural and conversational way. Google Duet enables users to type or speak their queries and see the assistant's responses on the same screen, without switching between apps or tabs. Google Duet also supports multitasking, so users can continue their conversation with the assistant while browsing the web, watching videos, or using other apps. Google Duet is part of the company's broader vision to make its assistant more helpful, personalized, and ubiquitous across different platforms and devices. To ensure another ‘Bard” incident does not occur, Google had over a million people testing the assistant ahead of its launch. Available features in Duet. Converts data from Google Docs into a Google Slides slideshow. Sorts out data into a spreadsheet in Google Sheets. Perform mundane AI tasks eg. (i) craft email responses, (ii) check spelling and grammar, (iv) generate images, Leverage on prompts to fetch items from a user’s drive and summarize his/her documents etc.. Here’s What I Think: Is “Duet” developed as an answer to Microsoft’s Co-pilot? Or is it to prevent Microsoft Office (suite of products eg. Word, Excel, Powerpoint etc..) dominance? More likely than not, I think Duet is best described as smarter version of Microsoft Office’s Clippy assistant. Agree? Duet which is built on Google’s Bard is marketed as “professional tool”, targeting larger organizations at a “friendly” cost of $30 per month, per user. As it is still a “work in progress”, as is “Bard” - it is spot-on for targeting enterprises. As the AI technology matures, it would then be time to target smaller enterprises and individuals like you and I. Do you think Google Duet is a direct competitor of Microsoft’s Copilot? Do you think Google is sinking its feet deeper & deeper into the artificial intelligence sphere? Please give a “LIKe”, “Share” and “Re-post” ok. Thanks. Rating is very important (to me). Do consider “Follow me” and get firsthand read of my daily new post/s ok. Thanks. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents