Wall Street Job Losses May Top 200,000 as AI Replaces Roles…
What Does It Mean – Global banks are projected to cut approximately 200,000 jobs due to advancements in artificial intelligence (AI). AI is expected to replace roles in trading, asset management, and back-office operations, significantly reducing the need for human labor. The report highlights that while AI will eliminate certain jobs, it will also create demand for new skills, particularly in data science, AI ethics, and governance. The shift underscores the importance of reskilling the workforce to adapt to the evolving financial landscape. For more details, you can read the full article here.
Oil Hits Five-Month High as US Sanctions on Russia Menace Supply…
What Does It Mean – U.S. sanctions on Russian oil have driven oil prices to a five-month high, impacting global supply chains. The sanctions have caused significant disruptions for major Asian oil buyers, leading to market volatility. Analysts predict continued price increases due to constrained supply and heightened geopolitical tensions. Additionally, the U.S. is expected to maintain its aggressive stance on sanctions, further influencing market dynamics. The situation underscores the critical need for diversified energy sources and strategic reserves to mitigate supply risks. For more details, you can read the full article here.
Strong US Jobs Report Backs Case for Pause in Fed Rate Cuts…
What Does It Mean – The U.S. labor market showed robust growth with nonfarm payrolls increasing by 256,000 in December, surpassing expectations. The unemployment rate dropped to 4.1%, indicating a stronger-than-anticipated economic recovery. Key sectors driving job growth included health care, social assistance, retail trade, and leisure and hospitality. Average hourly earnings rose by 0.3% from November, reflecting steady wage growth. Despite the positive trends, manufacturing continued to shed jobs, highlighting sector-specific challenges. The labor force participation rate remained unchanged at 62.5%. These developments suggest a resilient job market, potentially influencing future Federal Reserve policy decisions. For more details, you can read the full article here.
S&P’s $18 Trillion Rally Threatened by Psychology of 5% Yields…
What Does It Mean – The S&P 500’s $18 trillion rally faces risks from the psychological impact of 5% bond yields. Higher yields could shift investor preference from equities to bonds, potentially stalling the stock market’s growth. Analysts highlight that the market’s sensitivity to yield changes is driven by investor sentiment and expectations of future economic conditions. The Federal Reserve’s monetary policy and inflation trends will play crucial roles in shaping these dynamics. The interplay between bond yields and equity valuations underscores the importance of monitoring macroeconomic indicators. For more details, you can read the full article here.
Want some mayo with that? A behind-the-scenes look at the Duke’s Mayo Bowl mayonnaise bath…
Imagine having 5 gallons of mayonnaise dumped over your head.
Well, that’s exactly what the winning head coach of the annual Duke’s Mayo Bowl receives as a “reward” for winning the game at Bank of America Stadium, a tradition born in 2021 as Duke’s Mayo looked to carve out its unique niche in the college football bowl world.
Each year, the mayo dump trends on social media — and college football fans just can’t seem to look away, no matter how disgusting the idea is to some observers.
There’s plenty of preparation that goes into the annual mayo dump.
Staff members begin by pouring five 1-gallon containers of mayonnaise into a large Gatorade-sized cooler around the start of the fourth quarter. Then, they take turns briskly stirring the mayo for more than 25 minutes with a large wooden stick.
“That changes the consistency just a little bit so it’s more pourable,” said Duke’s Mayo brand director Rebecca Lupesco. ”Some people think we add water. There’s no water added, it’s just straight mayonnaise. We just stir it up. It can be a workout.”
As tradition has it, the winning coach is seated on a chair on the field after the game and two workers will raise the cooler and pour the mayo over his head.
“When the facts change, I change my mind.
What do you do?” ~ John Maynard Keynes
Our plan is “the plan will change.”
What is your plan?
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