Anna's Daybreak News

Good morning news geeks! Prepare to be captivated by the stories that make headlines dance, as we unravel the latest news, offer fresh perspectives, and dive deep into the currents of current events. 📰🌟

• Job openings fell 338,000 to 8.827 million in July


• Quits dropped 253,000 to 3.549 million; layoffs unchanged


• Reports from the Conference Board show cooling perceptions of the labor market in August


• The S&P 500 recently closed at its highest one-day gain since June, with a 2.45% surge.


• The Nasdaq notched its highest pop since July, gaining 1.74%.


• Interest rate futures signaled an 87% chance the Fed will keep rates steady at its September meeting, cheering investors.


• The Fed hopes a cooling of the job market will lower inflation without a sharp rise in the unemployment rate.


• The US labor market is feeling a bit blue, and that just might be what Wall St needed to cheer up.
Source: Read More

• The U.S. Court of Appeals ruled that the Securities and Exchange Commission (SEC) wrongfully rejected an application from Grayscale Investments to create a spot bitcoin exchange-traded fund.


• This would be the first spot bitcoin ETF product of its kind here in the U.S. and could prove to be a big boost to the decade-long industry effort.


• The court called the SEC’s decision “unexplained discounting” and that it “falls short of the standard for reasoned decision-making.”


• Looks like asset managers, including BlackRock, Fidelity, and Invesco are set to benefit from this court ruling


• Grayscale Bitcoin Trust jumped 17% on Tuesday, narrowing its discount to the underlying token holdings by 18%


• The world's largest Bitcoin portfolio now stands at a whopping $17.4 billion


• This comes as a breath of fresh air to the Bitcoin community.
Source: Read More

• Hurricane Idalia is approaching Florida's Gulf Coast with maximum sustained winds of 110 miles per hour at the upper end of Category 2.


• The storm is forecast to reach Category 4 intensity, with maximum sustained winds of at least 130 mph, before it makes landfall.


• Governor Ron DeSantis has urged residents in vulnerable communities to heed orders to move to higher ground, warning of life-threatening flooding.


• Government officials, oil producers, and the U.S. Space Force have all taken precautions in anticipation of the hurricane's arrival.


• The storm may cause extensive flooding and trigger blackouts across the state.


• Depending on the track, the storm is estimated to cause up to $15 billion in losses.


• All of Florida is furiously preparing for Hurricane Idalia's arrival to ensure a smooth journey from the Everglades and beyond!
Source: Read More

• OpenAI is on track for annual revenue of $1 billion as businesses embrace the technology of ChatGPT, its generative AI bot.


• Monthly revenue for the startup, backed by Microsoft Corp., is around $80 million.


• The developing GPT-4 and ChatGPT cost OpenAI $540 million in 2022.


• OpenAI's success is a testament to the power of AI, proving once again that you can't put a price on innovation–and hype
Source : Read More

Baked with love,

Anna Eisenberg ❤️