Investors are gearing up for the Santa Claus Rally, a historical trend that boosts stocks during the last five trading days of December and the first two of January. Economic indicators, including consumer confidence and durable goods orders, are set to be released, providing insights into market conditions. Additionally, the Senate has passed a spending bill to prevent a government shutdown, while OpenAI's GPT-5 project faces significant challenges, affecting the tech sector's outlook.
The holiday-shortened trading week is expected to kick off seasonal stock gains, despite the absence of major earnings reports. The S&P 500 has historically shown gains during this period, but recent Fed comments have left traders cautious. The Dow Jones Industrial Average has struggled, while the Nasdaq remains strong, indicating varied performance across indexes.
• OpenAI's GPT-5 project is behind schedule and facing rising costs.
• The Senate passed a spending bill to avoid a government shutdown.
GPT-5 is an advanced AI model under development by OpenAI, aimed at enhancing AI capabilities.
Consumer confidence measures the optimism of consumers regarding the economy, influencing spending behavior.
OpenAI is focused on developing advanced AI technologies, including the GPT-5 model, which is currently facing challenges.
Microsoft is a major investor in OpenAI, anticipating advancements in AI models like GPT-5.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.