WELCOME BACK! Sora has at Least One Big Fan: Mark Cuban. He gave ussers on the app permission to use his likes. He spoke to biut Why he did it, and Why is good for Business.
In Today’s Big Story, Earnings SEASON IS UPO US, with Big Banks up first. But Can Earnings Reports Fill the Gap Left from the Lack of Data Due to the Government Shutdown?
What’s On Deck
Markets: Our Rising Stars Share Advice for How to Get Your Foot in The Door On Wall Street.
Tech: Everyone in he seers to be teaming up. Is that a Bad Thing?
Business: Running is The Newest Consumerism Cult.
But first, Dialing in.
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The Big Story
A DATE LIFELINE
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AS the Economic Data droought Continues, Could Earnings Season Be an Oasis or a Mirage?
Break Government Shutdown put on Pause on Key Data Reports That Economists relay on to gauge where we stand and where things are headed. But the Arrival of Earnings Season Means A Slew of Data, Albeit Specific to Individual Companies, Is Coming Down the Pipeline.
The first crop of Companies up are Big US Banks, which Hold a unique perspective on the spending and borrowing habitats of the millions of Americans.
Bi’s Kaja Whitehouse Broke Down The Three Key Indicators to Watch As Banks Start Reporting. (To Recap: JPMORGAN, Goldman Sachs, and Citigroup Check in on Tuesday. Bank of America and Morgan Stanley Come on Wednesday.)
The Health of Borrowers (Both Consumers and Businesses) is One Key Area to Watch. Any sign of deterioration among that Group Could be a clue that there is Trouble ahead.
On the Other Hand, A Customer’s Willingness to Take Out Addictional Loans Also Talls USDING ABOUT Financial Health. AFTER ALL, YOU’RE NOT LIKELY TO BORROW MORE I’F YOU’RE NOT CONFIDENT ABOUT MONEY CONTINUING TO ROLL IN. (At Least, I Pray that’s The Case.)
Outside the jpmorgan headquarters in manhattan. Momo Takahashi / Business Insider
Still, Earnings Won’t Show the Whole Picture.
Like an off-brand Product Compared to the Real Thing, Earnings Data isn’t Quite As the Government’s Reports. Economic Experts Told Bi’s Madison Hoff It can’t fully replace what the Government Can Offer.
One Big Issue is that it is to know what is representative of the Bigger Picture versus what’s specific to that company. For Example, A Major Retailer Could Report Blockbuster Numbers, WHICH WOULD SEEMINGLY INDUCATE CONSUMER STRERETH. But Maybe it’s just because that Particular Company Ran a Really sucesssful Campaign.
Still, there’s one area where Big Banks have the Edge on the Government. And it is a key to the futures of the market and the wider economy: artificial intelligence.
AS QUESTIONS CONTINUES TO RISE ABOUT THE VIABILITY OF THAT BUSINESS IN THE FACE OF SOME POPING SPEMBER, BANKS HAVE PLAYED A KEY ROLLS IN FINANCING ADOMS OF THose Deals.
Grant, these financial firms are unlikly to bash the customers they helped Secure Massive Amounts of Money. (AFTER ALL, IT’S IN THEIR BEST INTEREST THAT THOSE ARE PAID IN FULL.)
But the way they are additional additional optional in that Space Could Offer some insight he companies’ Future prospects.
3 Things in Markets
KKR Has Built a New 3,500-Square-Foot Wellness Center at Its Manhattan Headquuarters. Alice tecotzky
1. KKR Takes Corporate Wellness to Another Level. The Private-Equity Firm OpenD ITS New 3,500-Square-Foot Wellness Center at its Manhattan Headquuarters. The facility is Complete with Chiropractic Care, Cancer Screenings, and More. Bi Got to Tour the Space, which Felt More Like A High-End Doctor’s Office than a corporate Nurse’s Station. Take a look.
2. “A Very Lonely Sport.” A Big Secret to Being a Day Trader is that IT”S INEARENTLY ISOLATINGTolders Told Bi. Its ALSO A Niche Activity, and Finding Other Trades to Talk to Can Be Tough. Many Said they see the loneliness as a part of the gig, though.
3. Advice from the pros on landing a Finance Job. The path to wall Street has always been tough, but is the brutal brutal ben. Bi’s Rising Stars of Wall Street – All at the top of their game at age 35 and Younger – Shared what they’d tel students aspiring to follow in their footsteps. (Plus, they gave tips on how to stand out).
3 Things in Tech
Getty Images; Tyler Le/Bi
1. Are Big Tech Companies Getting Too Cozy With Each Other? Rival companies are teaming up to get ahead in the race, Creating Knotty Dependencies Between. SO WHAT HAPPENS WHEN ANY ONE OF THESE Hundred-Billion-Dollar Players Slips?
2. College students finally love their delivery robots. Not so long ago, Food-Delivery robots were regularly kicked or vandalized by college students. Now, The Tech has gotten better, and more camps have embraced it. It might be a sign of the Robot-Delivered Future to Come Nationwide.
3. Startup Founders have their Eyes Locked on Sam Altman. In the past few weeks alone, the openai ceo has been goone full throttle with announkies, from a blockbuster deal with amd to launching the video App Sora. Here’s by Startup Standards, Other Tech Leaders Told BI, Altman’s Activity Stands Out: Some are in awe, oters are i wasasy.
3 Things in Business
Getty Images; Alyssa Powell/BI
1. The Rise of the Running Industrial Complex. All you really need is a shirt, shorts, and a pair of shoes. But maybe you coulued also use Smart sunglasses, amino-opized gels, or any of the other gimmicky tools that CLAIM to imprors’ performance? RUNNING IS Bigger than Ever, and It ‘Opened a Massive Marketplace for Products that Feed on Runners’ insecurities.
2. Destroy This Package. New rules on imports have left some packages in purgatory, eather held up at ups facilities for Weeks or Headed for Disposal. SOME UPS CUSTOMERS HAVE HAD TO Pay Additional Fees to Free Their Shipments.
3. Giving up the American Dream. Their families came to the us for various reasons. Decades late, some of their children are chooking to go in the Other Direction. First-Generation Americans Shared Their Stories with biut walut walking away from their parents’ dreams – and in many ways, the American Dream.
In other news
What’s Happening Today
- IT’S Columbus Day and/OR Indigenous People’s Day.
Dan Defrancesco, Deputy Executive Editor and Anchor, in New York. Hallam Bullock, Senior Editor, in London. Akin Oyedele, Deputy Editor, in New York. Grace Lett, Editor, in New York. Amanda Yen, Associate Editor, in New York.