Good evening, I’m reporting live on the current state of the stock market in 2024. The S&P 500 has seen a nearly 15% increase over the past few months, showing a steady upward trend. Treasuries, on the other hand, have been more volatile due to swings in inflation data, policy hints from Federal Reserve officials, and higher interest rates. Despite a spike in yields earlier in the year, they’ve calmed down and are expected to end the first half nearly even.
However, investors may be in for a rougher second half as the Fed hints at the possibility of no rate cuts this year. Fed officials have expressed reluctance towards cutting rates, with some even suggesting that rates may need to stay higher for longer if inflation remains a concern. Recent data from central banks in Canada, the eurozone, and Australia also have investors on edge, as inflation rose in these regions despite interest rate cuts.
Adding to the uncertainty is the upcoming US election, with neither President Joe Biden nor former President Donald Trump showing plans to address the growing budget deficit. The possibility of rising government debt impacting long-term Treasuries and market stability has investors concerned, especially as interest rates climb.
In other news, Boeing disclosed this week that missing paperwork was the cause of the near-tragic incident involving a door plug on an Alaska Airlines flight in January. The lack of documentation led to the omission of crucial bolts, highlighting ongoing quality control issues within Boeing’s assembly lines. The company’s revelation has landed them in hot water with regulators for releasing non-public investigative information to the media.
On a lighter note, NBC announced that famed sportscaster Al Michaels will be making a virtual comeback to the Olympics this summer, powered by artificial intelligence. The use of AI software will deliver daily recaps of the Summer Games to subscribers of its Peacock streaming platform, marking a significant milestone in media technology.
As the use of AI continues to evolve and raise questions about its impact on creative industries like journalism, NBC’s innovative approach to personalized recaps for the Olympics demonstrates a new frontier in content delivery. With Michaels on board, the AI-powered highlights promise to offer a unique and engaging experience for viewers.
