The Machines Are Coming for Your Souls ... and Wallets
A new report called The Malicious Use of Artificial Intelligence is making the rounds on Wednesday, and it should scare the living s**t out of you. The report warned that all sorts of nefarious parties will look to exploit artificial intelligence in coming years. Think drones carrying missiles, videos that appear real but are just created by machines to sway public views, and seamless hacking. To try and combat this craziness, the report urged the U.S. government to implement new laws related to artificial intelligence. Good luck with that one. Despite the clear public risks of AI, the smart money is putting capital to work in the space aggressively. Private venture funding in artificial intelligence reached nearly $15 billion in 2017, almost three times 2016 funding numbers, said Goldman Sachs. The best way for the average investor to play AI is through a group of Action Alerts Plus holdings such as Alphabet (GOOGL) , Amazon (AMZN) , Microsoft (MSFT) and Nvidia (NVDA) . Hopefully, the profit you make from these AI names doesn't get mysteriously drained from your account by 2020.
Step It Up Amazon
Come on Amazon what are you doing here??!! Don't you get you have to SLASH prices once and for all at Whole Foods to drive better sales ... and profit. According to new research from Jefferies, pricing at Whole Foods hasn't changed this quarter vs. last quarter. What's more, Whole Foods' average best price gap vs. conventional grocers like Kroger (KR) worsened to 20.2% compared to last checks conducted in October. Whole Foods' average price gap vs. specialty grocers also widened. While Amazon has indicated it will cut prices again (it did in produce and dairy after it closed on the Whole Foods deal), Jefferies said it's "surprised" the internet beast isn't being more aggressive. Bullish Kroger.
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If the Market Is Going to Plunge Again, It Will Be Wednesday
With all due respect to the creepy Boston Dynamics robot videos swirling around the internet right now (latest one of a human fighting a robo dog), the real scary thing could be these markets Wednesday. After a shaky close on Tuesday, the markets could wobble harder if the Federal Reserve minutes at 2 p.m. ET reveal a governing body growing worried about inflation. There is also some yield fear creeping back into the market. The 10-year yield hit 2.895% on Tuesday after rising as high as 2.926%. Investors returned from the long weekend to an avalanche of Treasury supply hitting the market. About $179 billion in short-term debt was auctioned on Tuesday, with yields at their highest levels in some time. Another $64 million or so of debt will be auctioned on Wednesday.
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