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27 minutes ago
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Asia Set for Cautious Open Ahead of Ukraine Talks: Markets Wrap
Asian markets are set for a tepid start ahead of talks between Donald Trump and Volodymyr Zelenskiy, after the US-Russia summit on the Ukraine war ended without a ceasefire. US equity futures contracts were little changed in early trading after the S&P 500 Index closed lower on Friday, while the dollar held in a narrow range against major peers.
Yahoo
an hour ago
- Yahoo
I Asked ChatGPT How To Turn $10 Into $1 Million: Here's What It Said
According to the latest Global Wealth Report from financial services firm UBS, there are nearly 24 million millionaires in the United States. With millionaires seemingly lurking around every corner, I wondered how I could join their ranks. Read More: Find Out: I asked ChatGPT how I could turn $10 into $1 million, here's what it said, and whether the advice is worth considering. Not Impossible When I asked ChatGPT to make me a millionaire by turning my $10 into $1 million, I was thrilled to hear it wasn't impossible. The chatbot, however, did acknowledge that it may require time, skill, and, often, some luck. The AI tool broke down my options for joining the financial elite into three overarching categories: realistic, long-term Strategies, moderate-risk, high-effort options, and high-risk, low probability paths. Discover Next: Realistic, Long-Term Strategies ChatGPT offered two long-term options for turning $10 into $1 million: investing in the stock market or starting a low-cost business. The chatbot recommended adding to the initial investment each month. It said that if $100 a month is invested in an S&P 500 index fund with ~10% annual return, I could become a millionaire in around 35 to 40 years as a result of compounding interest. While most financial experts agree that investing is the most solid way to grow wealth, it may take more than $10 to reach millionaire status. Market volatility may also derail the strategy. It is strongly recommended that hopeful investors meet with a financial advisor first to develop the right plan moving forward. According to Fidelity, potential investors should first determine what they are investing for, the most part retirement, before deciding on a stock. A financial professional can then help determine what account is best based on individual needs and goals. The second option suggested by ChatGPT was to start a low-cost business. This can be achieved, according to the online platform, by spending the $10 on a domain and then creating a blog or selling a digital product. While this may seem easy enough, in reality, it takes a level of expertise to get an online business started and even more to make it successful, given the crowded industry. Moderate-Risk, High-Effort Options The next set of options, as suggested by the popular chatbot, involves a little more risk and a lot more effort. In the moderate-risk category is flipping, arbitrage or skill-based work. As noted by the AI platform, the success of these depends on skill level, scale, and effort. Arbitrage involves the buying of an asset in a lower-priced market and selling it in a higher-priced market. ChatGPT recommended doing this via online marketplaces such as eBay and Craigslist. The other suggestion in this category is to spend the $10 on learning a new skill and then monetizing that skill. While perhaps oversimplified, this idea can be utilized by anyone. The Future of Jobs Report 2025 by the World Economic Forum noted that 39% of workers will see their existing skill sets transformed or even outdated over the next five years. Learning a new skill may not turn someone into a millionaire overnight, but it could make them more marketable. High-Risk, Low-Probability Paths The final pathway recommended by ChatGPT is best left to gamblers and those with incredibly good luck. In the high-risk, low-probability category is investing $10 in cryptocurrency or taking a chance on a penny stock. The second option is to gamble the money or buy a lottery ticket. As explained by the AI tool, opting in to these high-risk strategies will most likely just result in the loss of $10. More From GOBankingRates New Law Could Make Electricity Bills Skyrocket in These 4 States I'm a Self-Made Millionaire: 6 Ways I Use ChatGPT To Make a Lot of Money 5 Strategies High-Net-Worth Families Use To Build Generational Wealth 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on I Asked ChatGPT How To Turn $10 Into $1 Million: Here's What It Said Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


CNBC
an hour ago
- CNBC
Stock futures are little changed following back-to-back winning weeks: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 12, 2025. Brendan McDermid | Reuters Stock futures are near flat Sunday night after hopes for lower interest rates fueled a winning week on Wall Street. Dow Jones Industrial Average futures added just 3 points. S&P 500 futures and Nasdaq 100 futures were also little changed. Sunday night's action comes after the three major averages notched their second straight positive week. The Dow climbed 1.7%, while the S&P 500 and Nasdaq Composite rose 0.9% and 0.8%, respectively. It was also the fourth week of gains out of the last five for the S&P 500 and Nasdaq. Small-cap stocks outperformed last week, jumping more than 3% as investors bet on forthcoming rate cuts from the Federal Reserve. Ross Mayfield, investment strategist at Baird Private Wealth Management, also pointed to the S&P 500 Equal Weight Consumer Discretionary index hitting an all-time high as a sign that tariff-driven economic fears may be overblown. "With the market's message quite upbeat ... it raises the question of whether the conventional wisdom about a weakening U.S. consumer and potential stagflation is missing the mark," he wrote in a Friday note. The Fed will continue to be in focus this week as central bank members travel to Jackson Hole, Wyoming, for the annual economic policy symposium. Investors will be monitoring the event for clues about the future path of rates. Fed funds futures are pricing in a nearly 85% likelihood that the central bank cuts rates at its next policy meeting in September, according to CME's FedWatch tool. Beyond economic policy, traders will be monitoring earnings reports due over the course of the week as the season winds down. Big-box retailers, including Home Depot , Lowe's , Walmart and Target , are among the major companies slated to release results this week. Of the more than 92% of S&P 500 companies that have already reported this quarter, almost 82% have surpassed Wall Street's expectations, according to FactSet.