OpenAI's ChatGPT is gaining new voice and image capabilities that will allow Plus and Enterprise users to have more natural conversations by speaking to the AI or showing it photos, providing a more intuitive interface through real-time voice interactions and visual examples. It can now also access live internet data to provide up-to-date information, strengthening ChatGPT's capabilities and Microsoft's position in the competitive AI field against rivals like Google's Bard and Amazon-backed Anthropic.
EQUITY
Wall Street closed higher Thursday as tech rebounded and Treasury yields pulled back, but still down for September. Micron fell after a wider loss forecast, while Peloton rose on a deal with Lululemon. The Dow gained 0.4% and the Nasdaq 0.8%, but they remain down for the month and quarter amid recession fears. CarMax plunged on lower used car demand, while AMD rallied to lift chips. Investors now eye inflation data Friday that could sway the Fed's rate hike path.
GOLD
Gold prices have fallen to near 7-month lows, closing below $1900 per ounce, although there is a significant pullback in Treasury yields and the dollar. If inflation accelerates and economic data remains strong, prices could soon hit below $1800. Technically, the price is already oversold and should rebound soon to resistance level $1885 or $1893, with a positive sign for bull if it hits $1902, which should be signs that a reversal is forming.
OIL
WTI pulled back 2.14%, while Brent is lower by 1.28%. Traders are cautious about the oil market outlook given uncertainties about the global economy, though prices could rise again if OPEC+ cuts output further at its October 4 meeting. Brent crude futures are up over 20% in the third quarter but traded around $93.50 on Friday after declines from 10-month highs over $95 per barrel earlier in September. Technically, Brent could be consolidating while WTI is on a steady uptrend with new higher highs.
CURRENCY
The dollar index eased from recent highs but remains bullish for the month on the resilient US economy and expectations of further Fed rate hikes. Fed Chair Powell gave a speech recently about education but did not give any clues. The yen remains near 11-month lows against the dollar, prompting concerns about currency intervention by Japanese authorities. US and Eurozone inflation data on Friday are closely watched for clues as to the next-year projections.