Ahead of tomorrows key inflation data. Amazon the first record close since 2021. Thats one day after hitting a fresh 52week high. It was fresh, jim. Lets begin with the ongoing ai revolution. Last night on the social media platform x, elon musk weighed in on the Rapid Development of Artificial Intelligence. My guess is that well have ai that is smarter than any one human probably around the end of next year. And then ai the total amount of compute of ai i think will probably need all of humans in five years. Well get a lot more today, jim. Google cloud ceo keynote at note. I love tom curran. Hes been doing a good job. Dont call him tom. I will not. I spent a lot of time at ttc, the nvidia conference. We talked so much about when theyre going to be smarter. They are already. Surprised what musk said. One of the things that jensen said put your 100 smartest people together in a room and its smarter than they are already. Its just smarter. By the way, anything that can be done physically,
Time in history. Instead it rallies to new highs dow gaining 256 points s p climbing 1 . And while that may seem crazy, theres actually some very good explanations lets start with the negatives, though first there was this mornings tweet from the president , meeting with chuck and nancy today, of course, chuck schumer, nancy pelosi about keeping government open and working. Problem is they want Illegal Immigrants flooding into your country unchecked. Are weak on crime and want to raise taxes substantially. You know at most times the story like that about a potential Government Shutdown would have sent the stock market into a complete tailspin. Government shutdowns are synonymous with lower stock prices even if the democrats hadnt canceled their meeting the rally over this could take weeks, months secret that tends to weigh on the stock market. But not this stock market. Instead we rallied on the news why . Who knows. Maybe it signals that the republicans dont need votes to keep it fund
Higher again, it has been a sharp rebound from the lows. Futures up 90 on the dow 36 on the nasdaq just under 10 on the s p 500 dow closed above 25,000 again yesterday. How about asia a check on the overnight session. China is closed, right, for the holiday . Yes, the Lunar New Year the Chinese Exchange was closed except for the nikkei you dont believe it until you read it in the teleprompter. I would believe him before the teleprompter did you do fast moneyfast mont night . No, there is no fast money. I knew that i watch around the clock. I do. European equities to check on those as well. Lets see how we are set up for the session here there is the nikkei in japan that was the lone market in asia great across the board for europe strongest gains on the periphery. Italy and spain up about. 08 the tenyear yield, just under 2. 9 there, you can see the rest. 30year, 3. 14, the fiveyear, 2. 639 we were eigall waiting for tt three and didnt get it. It went the other way. You listen to rick.
Its iphone 10. I want to know what theyre going to do in two years after the iphone 9 is introduced, what are they going to call the next one . Already have an iphone 10. Skip to the 11 . I digress we have all the details of all the new features on that. Plus Business Leaders are making news at cnbc and Institutional Investors delivering alpha conference. Well take you live there in a little bit. Jp morgan chair Ceo Jamie Dimon is about to take the stage any minute now that conference. Well bring it to you live as it happens. Hes already making headlines today saying the bank may no longer give intraquarter trading guidance and saying bitcoin is is a fraud wow that was thats gotten everybodys attention there. Equates it with tulips if you dont know what hes talking about, look it up, kids. Lets start with the breaking news out of apple there in cupertino at the new headquarters Brian Sullivan is there with details. Brian . Reporter hey, bill and kelly, thank you very much a lot to wrap
Dow gain 42 points nasdaq climb 2. 5 per, usual records highs. Each day with get a stock that seems to ignite and then captures the fancy of investors and provide the leadership that make succession so exciting and yes, lucrative at least if you happen to own it in fact, you know what, im an angler and theres a tar pine festival in july next year this is like fishing, catching a 40 inch fish every day, each different than the day before. Take todays catch, markecdonal. Not that long ago this to be was knocked down, that created a panic, even as it seemed out of contractor with the slow and steady wins the race performance of ceo steven. Now the stock has broken out unless you call that will veggie burg they released in europe something, the stock climbed to a 2. 5 high the next thing you know the analysts will be inventing reasons why it went up so they can recommend the stock tomorrow having analysts pound the table doesnt hurt even if they are gemmed up. Everyone loves a winner but t