Home Economy News Marketmind- Market to ChatGPT: what’s Powell gotta say?

Marketmind- Market to ChatGPT: what’s Powell gotta say?


Marketmind- Market to ChatGPT: what’s Powell gotta say? By Reuters

Breaking News


Economy 22 minutes ago (Feb 07, 2023 12:56AM ET)

(C) Reuters. ChatGPT logo and rising stock graph are seen in this illustration taken, February 3, 2023. REUTERS/Dado Ruvic/Illustration

A look at the day ahead in European and global markets from Ankur Banerjee

Investors are just about coming to terms with the eye-popping payrolls number from Friday, but with Fed Chair Jerome Powell due to speak later in the day, the market will ponder which Powell will turn up (the hawk or the dove). Perhaps ChatGPT has the answer.

Google owner Alphabet (NASDAQ:GOOGL) unveiled a rival to super popular ChatGPT, saying it will launch a chatbot service named ‘Bard’. And so the battle for generative AI, technology that can create prose or other content on command and free up white-collar workers’ time, heats up, with Microsoft (NASDAQ:MSFT) planning its own AI reveal for Tuesday.

The meteoric rise of ChatGPT, a chatbot from Microsoft-backed OpenAI, has also helped attract retail investors in other smaller firms as artificial intelligence becomes the latest buzzword on Wall Street. (More than 20 years after AI the movie was released)

The main event in Asia was Australia’s central bank raising its cash rate by 25 basis points to a decade-high of 3.35% and reiterating that further increases would be needed to fight inflation. The Aussie dollar spiked higher, while short term bonds tumbled.

Asian shares held their ground while the rally in the U.S. dollar took a breather on Tuesday.

Meanwhile, a deadly earthquake killed more than 3,700 people across a swathe of Turkey and northwest Syria, sending Turkey’s lira to a record low.

Before Powell takes centre stage and hogs the limelight, Bank of England’s Huw Pill is also due to speak and his comments on monetary policy will likely move markets.

Key developments that could influence markets on Tuesday:

Economic events: U.K. Halifax house prices for January, Swiss unemployment data

Speakers: Bank of England’s Huw Pill, ECB’s Peter Kazimir and Klaas Knot and Fed Chair Powell

Earnings: BNP Paribas (OTC:BNPQY) SA Q4 results

Marketmind- Market to ChatGPT: what’s Powell gotta say?

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Related News