Newsletter Sep 13, 2024

Quick Six

Trump opts against debating Harris again after first round
Donald Trump said Thursday he would not take part in another debate with Kamala Harris, as the White House rivals headed back to battleground states that are set to decide a nail-bitingly close US presidential election. Trump lashed out after his first televised clash with the vice president, when Harris put Trump on the defensive and got under his skin. Trump claimed that "polls clearly show that I won" despite surveys that showed Harris came out on top in the clash viewed by more than 67 million Americans.
HARRIS REACTS TO TRUMP'S DECISION NOT TO DEBATE

US economy appears on target for Fed rate cuts next week
The U.S. economy appears to have cleared the final hurdle for the Federal Reserve to start reducing interest rates next week with Thursday's data showing wholesale prices rose 0.2% in August. Core PPI, excluding food and energy costs, rose by 0.3%, slightly higher than projections. The prices wholesalers pay is cooling along with the prices consumers pay as the Fed plans to cut the benchmark rate next week from 23-year high levels.
HOW MUCH AND HOW QUICKLY WILL THE FED CUT RATES?

Business leaders pressure Yellen to approve US Steel sale
Japanese and American business groups urged US Treasury Secretary Janet Yellen not to let political pressure influence her review of Nippon Steel's proposed acquisition of US Steel. The $14.9 billion takeover has met opposition from both presidential candidates. US Steel warned the government last week that it could shut its Pennsylvania headquarters and factories if the deal is blocked, after reports that President Joe Biden will kill the deal.
WHY BUSINESS LEADERS ARE WARNING ABOUT THE DEAL

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Markets

DJIA	41,096.77	0.58%
S&P 500	5,595.76	0.75%
Nasdaq Composite	17,569.68	1.00%
Japan: Nikkei 225	36,833.27	3.41%
UK: FTSE 100	8,240.97	0.57%
Crude Oil Futures	69.31	0.49%
Gold Futures	2,586.70	0.24%
Yen	141.79	-0.02%
Euro	1.11	-0.04%
* As of market close

OpenAI releases new reasoning capabilities

ChatGPT creator OpenAI on Thursday released a new series of AI models designed to spend more time thinking, in hopes that generative AI chatbots provide more accurate and beneficial responses. The new models, known as OpenAI o1-Preview, are designed to tackle complex tasks and solve more challenging problems in science, coding and mathematics -- something that earlier models have been criticized for failing to provide consistently. Unlike their predecessors, these models have been trained to refine their thinking processes, try different methods and recognize mistakes before they deploy a final answer.

SEE WHY COMPANIES ARE INVESTING $150 BILLION IN OPENAI

Most US millionaires say they are not rich

A new survey of American millionaires found that nearly two-thirds do not believe that they are wealthy, and even more claim to be "self-made." The survey asked Americans with at least $1 million in assets how they viewed their finances, wealth, savings and taxes. Only about one-third said that they consider themselves "wealthy." Additionally, 79% of the surveyed millionaires said their net worth was "self-made" while just 11% said they came by their wealth through inheritance, and 6% attributed it to a one-time event such as winning the lottery.

WHY SOME MILLIONAIRES STRUGGLE TO BUY A HOMES TODAY

Arizona GOP takes out Chick-fil-A spoof ads

The Arizona Republican Party has placed about a dozen billboards around Phoenix in response to false claims that Haitian immigrants are eating people's pets in Ohio, a rumor raised by Sen. JD Vance and amplified by Donald Trump at Tuesday's presidential debate. The billboards proclaim "Eat Less Kittens - Vote Republican!" and show four kittens dressed like cows in ads that resemble the "Eat Mor Chikin" promotions made popular by Chick-fil-A. Democrats and Haiti's government condemned the "discriminatory remarks" made by Trump.

SEE HOW THE CONSERVATIVE FAST FOOD CHAIN RESPONDED

Extra point

What three US states do not have a Chick-fil-A restaurant franchise?

Thursday's answer: The Beatles have the most No. 1 singles in history with 20. Mariah Carey (19) has the most No. 1s for an individual artist.

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