The coming year is expected to include an explosion in new AI technologies.
Futures tracking the Dow and the S&P 500 indexes were subdued on Thursday as caution prevailed ahead of the monthly payrolls data due later in the week, while Nasdaq futures were propped up by a rise in Google shares. Reports showing weak private payrolls and job openings this week have reinforced expectations the Federal Reserve's furious pace of rate hikes is slowing the economy, potentially allowing the central bank to ease up on its monetary policy next year. Traders have nearly fully priced in the likelihood of the Fed keeping interest rates unchanged at its meeting next week, with 61% betting on a rate cut as soon as March 2024, according to the CME Group's FedWatch tool.
Semiconductor giant Intel (NASDAQ: INTC) is set to launch its most important PC chip family in years on Dec. 14. Codenamed Meteor Lake, these mobile-only computer processing units (CPUs) will bring a lot of changes all at once. Meteor Lake will be the first set of PC chips from Intel which use a tile-based architecture.