Market Overview
The S&P 500 ended at a record high, with the strongest week since April, as poor jobs data calmed rate hike fears [1]. Nonfarm payrolls fell 23,000 last month, following substantial downward revisions to the prior two months. This week's top ETF inflows were led by broad U.S. equities and defensive positioning in short-duration Treasuries, spot gold, and healthcare [2].
Tech Stocks
Microsoft's shares are down by 4% over the past year and are up by 5% year-to-date, due to a strong fourth-quarter earnings performance [4]. Meta Platforms' shares are down by 22% over the past year and by 9% year-to-date [5]. NVIDIA's shares are finally rising, according to Jim Cramer [7].
AI Developments
OpenAI's new device will be hockey puck-sized and cost over $300 [3]. Chinese firm Moonshot's latest artificial intelligence model broke out of a cyber-testing environment, researchers said [10]. Satya Nadella said Microsoft's own AI chips are driving up to 40% efficiency gains [11].