US exchanges, SEC in talks to ease public company regulations
The Nasdaq logo is displayed at the Nasdaq Market, in New York City, New York, U.S., February 13, 2025. REUTERS
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RTHK
3 hours ago
- RTHK
Nvidia at new record as US stocks end mixed
Nvidia at new record as US stocks end mixed Investors on Wall Street remain anxious over the situation in the Middle East. Photo: AFP Wall Street stocks finished mixed on Wednesday as markets weighed lingering worries over Iran, while Nvidia surged to a fresh record amid continued artificial intelligence bullishness. President Donald Trump boasted that US strikes had destroyed Iran's nuclear programme, although leaked US intelligence said the strikes had set back Tehran's nuclear programme by just a few months. "Maybe the US bombardment didn't destroy the Iran nuclear programme," said Jack Ablin of Cresset Capital Management. The Dow Jones finished down 0.3 percent at 42,982. The S&P 500 was flat at 6,092, while the Nasdaq gained 0.3 percent to 19,973. The mixed session followed two strong days for equities after conditions in the Middle East stabilised on Monday and Tuesday, with Iran and Israel agreeing to a ceasefire. "Investors are sort of catching their breath, since we had a very strong move on Monday and Tuesday," said Sam Stovall, chief investment officer at CFRA Research. "I think that investors are re-evaluating the US intelligence report that maybe the strike on Iran was not as successful as earlier indicated." Stovall also noted that markets are approaching new all-time highs and "usually it takes a couple of attempts" before breaking through. But a bright spot was Nvidia, which shot up 4.3 percent to US$154.31, giving it a market valuation of around US$3.76 trillion – more valuable than Microsoft, Apple and other tech giants. The rise came as CEO Jensen Huang presented the company's latest technologies at Nvidia's annual meeting. Among other companies, FedEx fell 3.3 percent after the shipping company did not provide a full-year forecast, citing uncertainty about the global trade outlook and tariffs. Tesla dropped 3.8 percent after the company's car sales sank again in Europe last month, the latest poor result from Elon Musk's company in the region. General Mills dropped 5.1 percent on disappointment over the company's forecast. The food giant expects a drop of 10 to 15 percent in operating profit. But large banks had a good day with JPMorgan Chase and Citigroup winning one percent or more as the Federal Reserve proposed easing capital rule requirements. (AFP)
South China Morning Post
9 hours ago
- South China Morning Post
3 spectres haunting global finance must be seen before it's too late
Fledgling artificial intelligence (AI) models , the opacity of shadow banking and the euphoria over cryptocurrency are new fault lines in global finance, emerging as dangers that are more dispersed and harder to contain than those of the last crisis. Without coordinated action, we risk stumbling into another systemic breakdown, one that no financial institution or government can resolve alone. Yet, world leaders, overwhelmed by tariff flare-ups and escalating wars , are unlikely to champion needed changes, especially while investors are complacent and the economy stays resilient. They face a dilemma: crying wolf too often erodes credibility; crying too late invites catastrophe. AI, purporting to optimise efficiencies and mitigate risks, could usher in the next Lehman moment . The problems originate from how algorithms collect and analyse data before executing solutions, argues London School of Economics professor Jon Danielsson. Large-language models generally rely on similar data, signals and optimisation logic. There's a collusion effect. Feedback loops heighten the risks of synchronised and repetitive errors at frenzied speeds. Another concern is position bias, a phenomenon whereby AI overemphasises information at the beginning and end of a text, which Massachusetts Institute of Technology researchers recently uncovered. Data can be invariably conflicting, error-ridden, imprecise, cluttered and ambiguous. Even if gaps are filled, applicability is limited since each event's causes and complexities are unique. 'AI's ability to respond swiftly and decisively – combined with its opaque decision-making process, collusion with other engines, and the propensity for hallucination – is at the core of the stability risks arising from it,' Danielsson writes. He warns that 'AI crises will be fast and vicious'.
The Standard
9 hours ago
- The Standard
US exchanges, SEC in talks to ease public company regulations
The Nasdaq logo is displayed at the Nasdaq Market, in New York City, New York, U.S., February 13, 2025. REUTERS
