The S&P 500 could rally to 7,750 by the end of next year —a 15% gain from current levels — and there's a 30% chance that the benchmark stock index could even reach 9,000 by then, says Evercore ISI, a Wall Street research firm.
Why it matters: Wall Street thinks the AI-driven bull market has plenty of upside ahead before a potential pop sends asset prices tumbling.
The numbers "6" and "7" have become an efficient generational litmus test: if the digits inspire an echo and a hand gesture you're likely Gen Alpha, and if you're thinking that 7 "8" 9, you're probably not.
The big picture: Social media trends invading classrooms isn't new — and children baffling the adults around them is a time-honored dynamic. But the ubiquity of "6-7" is leading some schools to simply ban the use of the phrase, some teachers are sharing on TikTok.
President Trump said Monday young people "owe [him] big" because he "saved TikTok" after keeping the platform online all year, even though a law banned the app in January.
Why it matters: The president's message follows last year's bill passed by Congress, and signed into law by former President Biden, banning the app in the U.S. unless ByteDance, the app's Chinese parent company, sold it.
OpenAI on Monday announced a new approach to apps within ChatGPT. The company says it will make it easier for developers to reach users and earn revenue.
The big picture: OpenAI launched custom GPTs and its ChatGPT store at its first developer event in 2023.
Massive single-day stock pops are becoming a regular occurrence for AI stocks. On Monday, AMD soared nearly 40% off a multibillion-dollar AI data center partnership with OpenAI, mirroring gains seen after Oracle's earnings.
Why it matters: These record one-day rallies are looking frothy as investors continue worrying about an approaching AI bubble.
China's low-emissions tech exports hit fresh records in August on the strength of surging EV and battery shipments, data from the climate think tank Ember shows.
Why it matters: It's the latest sign of what some analysts call emerging divides between "electro-states" and "petro-states" — with White House policy solidifying U.S. placement in the latter camp.
OpenAI will spend billions of dollars on AMD's chips in a new multiyear deal announced Monday, with the ChatGPT-maker potentially taking up to a 10% share of the U.S. semiconductor firm.
Why it matters: The AI revolution has an unquenchable hunger for computing power, and OpenAI is trying to lock down suppliers beyond market leader Nvidia.
U.S. shoppers will spend $253.4 billion online this holiday season, up 5.3% year-over-year, according to Adobe's new forecast out Monday.
Why it matters:Tariffs and inflation are squeezing budgets, but shoppers will lean on discounts, flexible payments and AI-powered tools to stretch their dollars, Adobe said.
Retail investors are shifting away from the Magnificent 7 stocks in favor of riskier AI plays, according to Charles Schwab's Trading Activity Index known as the STAX, which tracks the retail trading activity of millions of customers.
Why it matters: The Mag 7 moment is nowhere near over, but that basket of seven Big Tech stocks may be losing its popularity among retail investors.
