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In today’s recap, Marcello addresses a comment made by Warren Buffet about recent banking failures; Elon Musk recently developed a new IA to compete with ChatGPT; and Twitter is partnering with e-Toro to display real-time stock and cryptocurrency information.
The March U.S. consumer price index showed price gains cooled last month, in the slowest rise since May 2021. The consumer price index (CPI) rose +0.1% in March, a slower pace than the +0.4% gain in February. March’s headline inflation rose at an annual clip of +5.0%, below expectations of a +5.2% increase. Core CPI, which strips out food & energy, grew 5.6%, in line with expectations. Meanwhile, housing costs are still a key driver of inflation, even as the residential market stabilizes.Investment bank JP Morgan w/$3.67T in assets, it is the largest bank in the U.S. & a bellwether for the U.S. economyshares rose +7.55% on Friday at $138.73 after reporting Q1 profit & revenue that roundly beat expectations. It posted a profit of $12.6B or $4.10 per share. That’s up from $8.3B, or $2.63 per share from the same period a year ago, or +52%. Analysts expected earnings of $3.41 per share. The bank also guided net interest income to be about $81B in 2023, up $7B from its previous estimate.Argentina’s annual inflation rate soared to 104.3% in March, 1 of the highest rates in the world, straining people’s wallets & stoking a cost-of-living crisis that has pushed up poverty.The inflation reading for the month came in at 7.7%, marking the fastest monthly rise since 2002 & piling pressure on the gov’t which is contending w/voters ahead of elections in Oct. The soaring prices have pushed up poverty to near 40% & dented the popularity of the governing Peronist coalition,The price of Ether climbed above $2,000 Thursday for the 1st time in 8 months, after investors put uncertainty surrounding the long-awaited Shanghai upgrade behind them. Ether advanced over +5% to $2,007.55 & is up 60% for the year. Bitcoin gained over +1% to well surpass $30,000 once again, after briefly falling below it on Wednesday.
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