Thursday☕️

Thursday☕️

Trending:

  • U.S. Government Shutdown
  • Meta Announcements

Markets:

  • Yesterday's U.S. stock market:
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  • Yesterday's commodity market:
TradingView @8:02 PM EST
  • Yesterday's crypto market:
TradingView @8:02 PM EST

U.S. Government Shutdown:

  • Congress is close to a government shutdown due to differences between House and Senate spending proposals. If Congress doesn't approve funding by September 30, federal agencies could partially close, affecting federal workers and military personnel's pay.
  • Both chambers have their own temporary funding proposals, but they face opposition in the other chamber because of disagreements on spending, Ukraine, and border security. McCarthy is pushing for a bill with strict border security and reduced spending and excludes funds for Ukraine and disaster relief.
  • The Senate's version continues higher spending and allocates funds for Ukraine and disaster relief but doesn't include border measures. McCarthy is against putting the Senate's bill for a vote. President Biden emphasizes sticking to an earlier debt-ceiling agreement and warns of the negative impacts of a shutdown.
  • U.S. Border security remains a significant and contentious issue, with the House GOP pushing for stricter measures. On Ukraine, the House GOP is hesitant about sending more funds, whereas the Senate's proposal includes substantial support.

Meta Announcements:

  • Yesterday Meta announced its inaugural generative AI products intended for the general public. Among these products is a sophisticated chatbot that has the ability to generate both text-based responses and hyper-realistic images. CEO Mark Zuckerberg, while addressing the attendees at the event, also revealed the upcoming release date for their new Quest mixed-reality headset, set for Oct. 10.
  • Meta showcased the versatility of the chatbot, emphasizing its applications beyond just answering questions. It's been designed for entertainment purposes and to enhance user interactions. To demonstrate its capabilities, the AI generated creative images, such as visualizing a dinosaur as a domestic pet and altering the fur style of Zuckerberg's own dog.
  • Zuckerberg reiterated the company's commitment to democratizing technology, stating the importance of making cutting-edge tech both accessible to a broad audience and reasonably priced. The newly introduced chatbot, named Meta AI, leverages the capabilities of Meta's open-sourced Llama 2 language model. Furthermore, in a collaboration aimed at enhancing its utility, the chatbot will incorporate real-time data from Microsoft's Bing search engine.

Statistic:

Top 50 largest banks by market cap:

  1. 🇺🇸 JPMorgan Chase: $423.64B
  2. 🇺🇸 Bank of America: $216.69B
  3. 🇨🇳 ICBC: $216.58B
  4. 🇨🇳 Agricultural Bank of China: $166.52B
  5. 🇬🇧 HSBC: $153.73B
  6. 🇺🇸 Wells Fargo: $149.49B
  7. 🇮🇳 HDFC Bank: $147.66B
  8. 🇨🇳 China Construction Bank: $143.75B
  9. 🇨🇳 Bank of China: $136.44B
  10. 🇺🇸 Morgan Stanley: $135.29B
  11. 🇨🇦 Royal Bank Of Canada: $121.77B
  12. 🇨🇳 CM Bank: $113.27B
  13. 🇨🇦 Toronto Dominion Bank: $110.02B
  14. 🇦🇺 Commonwealth Bank: $108.04B
  15. 🇯🇵 Mitsubishi UFJ Financial: $106.70B
  16. 🇺🇸 Goldman Sachs: $106.13B
  17. 🇺🇸 Charles Schwab: $99.03B
  18. 🇮🇳 ICICI Bank: $80.25B
  19. 🇨🇭 UBS: $79.04B
  20. 🇺🇸 Citigroup: $77.91B
  21. 🇫🇷 BNP Paribas: $74.64B
  22. 🇸🇦 Al Rajhi Bank: $73.29B
  23. 🇮🇩 Bank Central Asia: $71.25B
  24. 🇯🇵 Sumitomo Mitsui Financial Group: $68.66B
  25. 🇨🇳 Postal Savings Bank of China: $63.79B
  26. 🇮🇳 State Bank of India: $63.28B
  27. 🇸🇬 DBS Group: $63.04B
  28. 🇮🇳 Housing Development Finance Corporation: $60.81B
  29. 🇨🇦 Bank of Montreal: $60.40B
  30. 🇪🇸 Santander: $59.69B
  31. 🇦🇺 National Australia Bank: $58.34B
  32. 🇨🇦 Scotiabank: $55.17B
  33. 🇸🇦 The Saudi National Bank: $52.32B
  34. 🇨🇳 Bank of Communications: $51.71B
  35. 🇧🇷 Itaú Unibanco: $51.15B
  36. 🇮🇩 Bank Rakyat Indonesia: $50.92B
  37. 🇺🇸 U.S. Bancorp: $50.63B
  38. 🇦🇺 ANZ Bank: $48.51B
  39. 🇺🇸 PNC Financial Services: $48.51B
  40. 🇦🇺 Westpac Banking: $47.65B
  41. 🇮🇹 Intesa Sanpaolo: $47.54B
  42. 🇪🇸 Banco Bilbao Vizcaya Argentaria: $47.16B
  43. 🇨🇳 Industrial Bank: $46.18B
  44. 🇳🇱 ING: $46.11B
  45. 🇯🇵 Mizuho Financial Group: $45.11B
  46. 🇮🇹 UniCredit: $43.40B
  47. 🇮🇳 Kotak Mahindra Bank: $42.17B
  48. 🇨🇳 CITIC Securities: $42.15B
  49. 🇸🇬 OCBC Bank: $41.91B
  50. 🇦🇺 Macquarie: $41.28B

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