Market Performance: The S&P 500 fell 0.04 on Monday, following JPMorgan's acquisition of First Republic Bank's assets. JPMorgan: The company gained around 3% after the acquisition was announced in the morning and is now slightly below its 52-week high. Winners: Technology, Healthcare, and Consumer Staples stocks led gains on Monday. Losers: The energy, consumer discretionary, and finance sectors dragged down markets. Losers: In a research note on Monday, Goldman Sachs said that market sentiment is on the rise, noting that the S&P 500 has gained almost 9% this year.
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US Markets The Dow, Nasdaq, and S&P 500 started the month of May in the red after they all lost around 0.1% on Monday. - Uber, Pfizer, and Molson Coors are set to report earnings this morning. Ford, Starbucks, and AMD will follow suit this evening.
- Treasury Secretary Janet Yellen on Monday said the U.S. may hit the debt ceiling by June 1, earlier than previously thought.
- The current 10 Year U.S. Treasury yield is set at 3.55290%
| Dow Jones | 34,051.70 | -0.14% | | S&P 500 | 4,167.87 | -0.04% | | Nasdaq | 12,212.60 | -0.11% | | Russell 2000 | 1,769.21 | 0.01% | *Stock Market data as of the last closing bell. Data received directly from the reference indexes through ICE Data Services. Do you not understand any of these figures? Check out our explainer.
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 A message from TRUERA LLM Testing and Monitoring – Join the Hands-On Workshop How can you ensure that your large language model is honest, harmless, and helpful? Join TruEra on May 11th and 18th as their President and Chief Scientist, Anupam Datta, provides a hands-on overview of how to analyze and improve the performance of your LLMs. During the two 60-minute online sessions, he will cover the following: - Quick introduction to LLMs - what are they and their history?
- Risks and challenges of LLMs: is your LLM honest, harmless, and helpful?
- Defining feedback functions to model LLM quality and performance
- How should you test and monitor LLMs?
- Live walk-throughs of how to identify, diagnose, and debug model issues in development and production
- Q&A with Professor Datta
Dates: 2-session series on May 11th and 18th Where: Virtual Event - Join from Anywhere Who should attend: Data scientists, machine learning engineers, MLOps managers, data analysts, statisticians, data and analytics managers Register for Free
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Canadian Markets Homes in Calgary sold for a benchmark price of CA$550,800 in April, a new record. - This represented a 2% increase from the month before and a 1.19% hike from a year earlier, the Calgary Real Estate Board said.
- New listings fell by 32% in April from a year earlier while the number of homes sold dropped 21% from the previous year.
- The tight supply is the main reason behind the price increases seen last month, the board said in a statement.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services
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Asian Markets Stocks in Asia rose on Tuesday morning ahead of the Bank of Australia's interest rate decision. - Many Asian markets were closed for Labor Day on Monday.
- The Manufacturing Purchasing Managers Index in Korea in April rose to 48.1, from 47.6 in March. Despite the increase, the data show that manufacturing activity in the country has been declining for 10 months, according to an S&P survey.
- The Reserve Bank of Australia is expected to keep rates steady at 3.6% after the inflation rate fell to 7% in the first three months of 2023, down from 7.8% at the end of 2022.
| S&P Asia 50 | 4,524.67 | 0.18% | | Japan (Nikkei 225) | 29,124.17 | 0.00% | | South Korea (KOSPI) | 2,517.05 | 0.62% | | China (Hang Seng) | 19,802.24 | -0.46% | | India (SENSEX) | 61,112.44 | 0.76% | *Asian stock prices are as of 7 am ET. Data received directly from the reference indexes through ICE Data Services.
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Commodities Oil prices fell on Monday amid concerns about a potential interest rate hike in the U.S. later this week. - Brent lost 1.27% and U.S. West Texas Intermediate Crude fell 1.46%.
- Weaker economic data from China led to fears about a potential drop in oil demand in the country.
- OPEC+ production decreases are due to start this month.
| Oil (NYSEARCA:OIL) | 28.81 | -1.81% | | Gold (NYSEARCA:GLD) | 183.97 | -0.45% | | Silver (NYSEARCA:SLV) | 22.89 | -0.48% | | Corn (NYSEARCA:CORN) | 23.23 | -0.64% | | Lumber (NASDAQ:WOOD) | 70.74 | -0.25% | *Commodity prices are as of 7 am ET. Data from MarketWatch. To understand why investors track the prices of these commodities, click here.
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Currency Exchange Rates The U.S. Dollar rose on Monday amid expectations of another interest rate hike this week. - The Fed's two-day meeting starts today and policymakers are set to announce their interest rate decision tomorrow.
- A private study indicates that manufacturing activity in the U.S. rose last month but is still in recession.
- The U.S. Dollar Index gained 0.45% yesterday.
| UK(GBP) | £0.80 | 0.58% | | Europe (EURO) | €0.91 | 1.24% | | Canada (Canadian Dollar) | $1.35 | -0.76% | | Japan (Yen) | ¥137.45 | 0.83% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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Cryptocurrency Bitcoin fell on Monday, retreating from the $30,000 threshold. - Bitcoin lost 4.2% during U.S. trading hours on Monday, while Ethereum fell 4%.
- Expectations of another interest rate hike this week are putting downward pressure on Bitcoin.
- Bitcoin has gained 70% so far this year.
| Bitcoin | $28,002.10 | -4.26% | | Ethereum | $1,829.31 | -2.22% | | Litecoin | $86.26 | -2.18% | | Bitcoin Cash | $116.59 | -2.74% | *Exchange rates as of 7 am ET. Data from Morningstar Financial Research. To understand why we track these currencies and the differences between them, click here.
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 |  | Liam Gill is a lawyer who raised $250k with just an idea and turned it into a $35M tech startup.
He now teaches entrepreneurs how to Pitch, Negotiate and Strategize so they can do the same.
Let's Connect |   | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
Join us on May 11th and 18th for a hands-on overview of how to analyze and improve the performance of your LLMs. | |
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