Part of the his is Financial Services industry. The chair will now recognize an elf for five minutes for opening statement. First off, thank you for joining us today for what should be a thisinteresting hearing of task force. Today were looking at exploring how a. I. Is being deployed in Capital Markets from automated Portfolio Allocation to Investment Management decisions. Were also going to consider how the use of this technology is changing the nature of work in rendering ervices, some jobs obsolete and changing the skill sets needed to excel in others. It would not be much of an exaggeration today to say that quite literally is run by computers. Of those are the days screaming on the new york stock pour ge and they would over the ticker statement and Financial Statements to gleam value. Into a companys i actually hear about those days from the limo driver who takes e back who used to be a floor trader on the merc. Today, floor trades are orders are d executed in microseconds. E. T.
S an hour and a half. The task force will now come to order. Without objection, the chairs authorized to declare a recess at any time without objection members of the full committee are authorized to participate in todays hearing consistent with the committees practice. This hearing is entitled robots on wall street, the impact of ai on jobs in the Financial Services industry. The chair will recognize himself for five minutes for an opening statement. Thank you all for joining us today for what should be a having interesting hearing of this task force. Were looking at exploring how ai is being deployed in Capital Markets from automated trading to Investment Management decisions. An e minutes for opening statement. First off, thank you for joining us today for what should be a thisinteresting hearing of task force. Today were looking at exploring how a. I. Is being deployed in Capital Markets from automated Portfolio Allocation to Investment Management decisions. Were also going to cons
Proved to be the new Magic Kingdom while the apple kingdom apple card cant shake its controversy. First its all about our top story, we work. Theyre set to face the securities and exchange inquiry into possible rules violation into the runup of its failed ipo. The agencys review was said to be preliminary and may not lead to an enforcement case. The company at one point was worth 47 billion dollars before it fell out of favor and needed a bailout from softbank. More outlets bring in congratulations on the story. What we know so far about the inquiry . An inquirythere is happening. It is early, preliminary, we dont know what might come of it. We do know that we work has taken steps to respond to it. They have hired who used to be the head of the Sec Enforcement Division who now works in private practice coming on to help them respond to this. This is also coming from the Sec Enforcement Division, the part of the sec you dont want to hear from. Although we dont know exactly what is promp
Tweet me jim kramer the worst hit, tech especially the cloud plays that were roaring hard not that long ago. They were crushed and the worst part, i dont think that the selling is over. Yeah, anything that helps enterprises harness the power of the cloud had been on fire coming into todays session along with anything related to streaming content and thats because of the wildly successful disney plus, the new over the top service. Theyve been the big winners for several weeks ever since nvidia and splunk whats driving this new found weakness and how long will it last isnt that what you want to know im going to walk you through all the reasons so you know whats ahead first, its the beginning of a new month, right almost every new month especially after a very big run we get a period where large funds decide to take something off the table. Not a dumb idea. Given that no one was expecting this selling, witness the clueless pajama traders as of last night and this morning who were still bu
Day of november on the backs of home depot and kohls, both tumbling after cutting outlooks and comps forecast. The record rally for stocks, it rolls on. Futures as you saw pointing to renewed all time highs at the open and vaping crackdown. California suing juul for marketing to teens new york set to make a socalled major announcement of their own later today. Well start with retail, though, home depot shares down on the premarket, earnings did beat but sales missed and company cuts the full year outlook saying integration is not delivering as quickly as they thought. Kohls tumbling on weaker guidance i was curious to hear you say a moment ago that lowes is getting to be the better buy because well see that print tomorrow. Yes i have to tell you, i think Marvin Ellison energized the place. One thing that happened was that lowes fell behind home depot technologically. They didnt have the systems that is no longer the case as Marvin Ellison rolls out technology at every single lowes, and