A look at the day ahead in European and global markets from Wayne Cole.
Bard AI flunking a question
on the James Webb telescope. And it was an own goal given the error was in a Twitter video put out by Google itself, ouch. Alphabet's shares sank almost 8%, wiping a cool $100 billion off its market cap, and dragging all of Wall Street down. But it did produce one of our best headlines of the session: "Alphabet's Bard apparently no Shakespeare." Eat your heart out AI.
There's been scant fun in Asian markets with everyone already stressing about next week's U.S. CPI report and what that will mean for the likely peak of Fed rates. In Europe, the Riksbank meeting will be interesting if only because both the governor and deputy are new to the roles, so there's no knowing if the central bank's reaction function has changed.to 3.0%, in part to match the ECB and stop the SEK from weakening yet further. It's been falling steadily on the euro since late 2021, making it all the harder to fight inflation.
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