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MIT economist says AI can only handle 5% of jobs, fears stock crash

The much-touted AI takeover of the U.S. job market is likely overblown and will hurt the bottom lines of overzealous companies that have invested billions in the technology, according to a prominent expert. It is said that there is a possibility. Economist and Massachusetts Institute of Technology professor Daron Acemoglu calculates that within the next […]

Experts weigh in on durability of China's sizzling stock rally – Yahoo Finance

Chinese stocks have soared over the past week, but will they continue to rise? Jie Zhao/Getty Images Recent gains in the housing sector came as China's three largest cities eased restrictions on home purchases and the People's Bank of China moved to lower mortgage interest rates. Residential real estate is an important and struggling industry […]

Stock futures slip following rocky start to October: Live updates – CNBC

Traders work on the floor of the New York Stock Exchange during morning trading on May 17, 2024. Michael M. Santiago | Getty Images Stock futures fell in overnight trading following a tough start from October to the final quarter of 2024. futures tied to Dow Jones Industrial Average Although we lost 96 points, S&P500 […]

China’s stock market is on fire

Claman Countdown panelists Steve Raipli and John Petrides evaluate economic data and the global economy. Chinese stocks posted their biggest one-day gain since 2008 on Monday, with domestic A-shares climbing as investors scrambled to take part in the wild rally sparked by the Chinese government's latest round of stimulus measures. recorded the highest trading volume […]

Bank of America sees strong jobs report Friday reigniting stock rally – CNBC

Another important U.S. jobs report this week will set the tone for the market, and Bank of America strategists say it's likely to push stocks further to record highs. “Risks are up, absent [a] “It was a huge failure,” the Wall Street firm said in a note to clients on Sunday. “We believe the data […]