Nearly 2 billion eu fine, while two new notes say, hey, dont worry. They suggest an apple comeback likely. As for tesla, well, its china struggles continue. Shipments plunging to the lowest level in more than a year. Lets begin with the markets entering a new week with record highs, fueled once again, jim, by a. I. , which seems to be the topic of so many weekend notes the last couple days. Oh my, carl. A lot of people want to say that the whole things gotten out of control, but lets say you go back a year, and you look at what nvidia the estimate for 2024. The stock was selling at 12 times earnings a year ago, so we can sit here and moan how expensive it was, but its by far the cheapest of the mag seven or mag six if you want to drop musk. But i think the problem has always been that when you look back, this thing is so underestimated in terms of what it can make that you dont know how to value it. What are you going to do, take it to nine times earnings like its a bad bank . Jim, my
Up next acting labor secretary testifying on her department 2025 budget request the proposal totals 13. 9 billion focuses on creating pathways to good jobs and protecting workers. She has served as acting secretary since march 2023 she is still waiting to be confirmed as labor secretary over a year after President Biden first nominated her. House education and Workforce Committee hearing is three and half hours. The committee will come to order. Note there is a quorum. Actingng secretary ms. Su i know Vice President harris ezell lobbied hard to drop the acting from your title only a vote of the full senate can grant to that promotion. This is something they have rightly not seen fit to do. Today marks 417 consecutive day in which you have ledol the department of labor, the dol as acting secretary without the cost which is required advice and consent of the senate. It effectively abrogating the Senate Nomination process the Biden Administration has treated the constitution as but a foot
Getting it done. That doesnt seem to be a big issue in the house. The bigger battle is in the senate. Theyre scrambling to make it happen. A lot of this got wobbly yesterday, ron johnson, republican senator from wisconsin, is a no vote if they dont make changes to provisions that favor Big Companies rather than smaller companies. The ones fueling todays rally in the markets, not necessarily the small ones are not even publiclytraded. We are on that. Were also awaiting any remarks the president might make when he comes out of those meetings. If he plans to make remarks, hearing from Speaker Paul Ryan. When it comes to the back and forth on individual mandate, the senate lead the way there. So the senate will be keeping that as part of its plan to shelf the mandate, the one that requires you to buy health insurance. That isnt going down well with some republicans. Could be a deal breaker. Way to early to tell. Maybe well get a sense of all of that from the speaker. Reporter neil, get to
Weak so far. The dow and s p 500 even with those losses on wednesday are on pace for the best week in five nasdaq with the biggest week in seven weeks. In morngs ding dow futures up b5 points, s p up by 3, and the nasdaq up by 6 overnight in asia, the nikkei ended up just slightly. Up by 27 points. The hang seng by a half percentage point in europe this morning, with some of the early trading, it looks like the dax is up by 0. 3 the cac in france up bay half percentage point stocks are slightly weaker in london, but italian and spanish stocks are in the green. Also look at crude oil prices. Crude jumping on wednesday by 2. 1 , setting a 2. 5year high. It was sitting at 58. 02. This morning were up again, 63 cents higher to 58. 65. A couple of corporate stories were watching Teva Pharmaceuticals will lay off thousands of employees in israel and the United States they will be reportedly sending termination letters to 10 of its 10,000 employees earlier this month we heard teva said it wou
Are absolutely coming for our jobs, you can see it already, take a look at the relatively low decline rate Labor Force Participation rates, and number two, it will allow for the creation of completely new jobs and industries, just as in previous revolutions, so there is nothing to worry about. In any event, occupational internment is at an alltime low. The truth is probably somewhere between those, maybe. That is what this panel will talk about, automation and ai, are they a substitute or complement to human labor . We have a great panel to discuss this today, and i will introduce. Hem very quickly first, we have diane daly, an associate professor at the school of information at ut austin, she studies technology and work. Her Current Research interests include engineering product design, data and health care, and economic development. Conductive material to studies conducts imperial empirical studies as well. James bessons from the Boston University school of law, he is an economist. H