International markets update:
Global markets are navigating mixed sentiment as leading tech firms commit to AI self-regulation, while rising Treasury yields signal underlying economic shifts. Futures are inching higher, but quarter-end performance reveals divergent trends across major indices.
- Six prominent American AI companies, including Google, Meta, and Nvidia, have signed the “White House Accord on Super Intelligence,” pledging to develop their own safety measures, though future codification into law is considered.
- OpenAI announced it will pursue a public listing only when conditions are optimal and safety decisions are robust, aligning with other companies like Oura that have postponed IPO plans due to market uncertainty.
- The U.S. 30-year Treasury yield reached its highest point since 2002, amid warnings that increased hedge fund participation in the bond market poses fresh risks.
- The Federal Reserve’s preferred inflation gauge is expected to show persistent price pressures later today, a key indicator for upcoming monetary policy decisions.
- Market performance was mixed for both September and the third quarter; the S&P 500 and Dow recorded monthly declines, while the Nasdaq posted gains, reflecting varied sector strength.
- Goldman Sachs is reportedly considering a CEO succession plan, with discussions about elevating David Solomon to executive chairman and appointing John Waldron as CEO, despite the firm’s robust performance in M&A advisory and equities revenue.
Stock Market News summarised for the Wall Street Investors Club community.