Trump Win: Destroy Obamacare Jobs?Market Sizzle: Trading Glitch Chaos, Healthcare Jobs at Risk, Fed's Inflation Fight, Nvidia's AI Chip Leap
Ever heard of marathon bandits? There's a big controversy in the running world. In Miami, "bandit busters" crack down on unregistered runners to keep things fair. Meanwhile, in San Francisco's Bay to Breakers, costumed bandits run against the flow, turning the race into a wild party. One side calls it cheating; the other calls it tradition. It's like politics on pavement! Stocks Plunge in Market Glitch
A technical glitch hit the New York Stock Exchange yesterday, causing chaos. Shares of Berkshire Hathaway Class A dropped 99% before trading was halted. The NYSE paused trades to fix the problem and resumed by midday. The issue was due to a problem with industry-wide price bands, leading to faulty trades. Stocks like Chipotle and Barrick Gold were also affected. The glitch wasn't caused by a cyber attack but by an update to the data system. Despite the chaos, most stocks quickly bounced back to normal levels. This incident follows recent updates aiming to improve trade finalization times. Trump Win Threatens Healthcare Jobs
US healthcare spending boosts jobs, but it’s at risk. Over half of new jobs in the past year came from healthcare and social assistance. Many of these jobs stem from patients seeking delayed care due to COVID-19. Analysts warn Trump’s re-election could change this. During his first term, Trump tried to repeal the Affordable Care Act. If he wins, Medicaid cuts could follow, slowing healthcare job growth. The healthcare boom also comes from expanded Medicaid and the Affordable Care Act. Enrollment hit a record 21 million in January 2024. However, some experts say the demand for post-pandemic procedures might drop soon. This puts the future of healthcare jobs in question. If Trump wins, hospitals may cut back hiring in 2025. Inflation Fears Force Fed Freeze
A top Federal Reserve official, Neel Kashkari, says interest rates should stay high. He warns that lowering rates too soon could hurt US prosperity. Kashkari explained that Americans dislike high inflation. Some even prefer a recession over rising prices. The Fed aims to keep rates between 5.25% and 5.5% until inflation drops to 2%. He stressed that the strong economy allows the Fed to wait for more data before changing rates. Although not voting this year, Kashkari's views are influential. The Fed’s caution comes as inflation remains a concern. High borrowing costs and inflation worry President Biden as he seeks re-election. Despite low unemployment and strong growth, inflation has risen by over 19% since Biden took office. Kashkari's message is clear: controlling inflation is key to maintaining economic stability. Nvidia Unveils Revolutionary AI Chips
Nvidia revealed new AI chips, surprising everyone. CEO Jensen Huang called it the start of a "new computing age." These Rubin chips will start shipping in 2026 and promise better power efficiency. Nvidia's rapid innovation aims to keep it ahead of competitors like AMD and Intel. Recently, Nvidia's market value soared by $350 billion due to strong revenue growth. Nvidia also announced deals with Asus and MSI for AI-powered PCs. These will support tasks from video editing to running digital assistants. Nvidia's dominance in AI chips helps them reshape the PC and server markets. Their advancements are seen as the biggest PC industry innovation since the internet's creation. Quick Sizzles:
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Selasa, 04 Juni 2024
Trump Win: Destroy Obamacare Jobs?
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