DHUnplugged #656:Married to AI

Wham Bam! markets on fire - not stopping her now.

Russia and Ukraine Updates - Colorcast?

New Word - Fed Speak Update

Update on Apple's WWDC .

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Warm Up

- OPEC+ Decides on cuts & No-Cuts

- Everyone is running for President - Republicans getting their paperwork in

- Russia and Ukraine Updates - Colorcast?

- Married to AI - This is a dooozy

- New Word - Fed Speak Update

Market Update

- Crypto getting knocked - News about Binance

- Markets all excite about Apple VR headset - WWDC announcements

- Narrowing breath - day by day

- Best move in a day since... Employment Report Friday was gooooood

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Fed Speak Update

- New word being used to convey Fed's next move

- The street is all excited about .... "SKIP"

- Pause is now Skip (Meaning that they not going to raise this meeting, but will reserve the right to raise if conditions require...

- 27% Chance that the Fed will raise at next meeting (25 bps) - but that is much different than the day before the employment report

Employment Report

- Big gain in total number of people added to the payrolls

- BUT - somehow the unemployment rate increased to 3.7% from 3.4% -

--- This will give the Fed some cover so that they can hold off on a raise next week

- The wage growth us still there and even with a tick up in the rate (possibly due to the labor participation rate moving up) there is still a good amount of inflationary pressure.

War Color

- Since when is every little bit of war covered?

- "Moscow said on Monday it had thwarted a major Ukrainian offensive in the south of Ukraine's Donetsk region but Russia's main mercenary leader said Russian forces had lost ground around Bakhmut further north."

Thoughts on any of the Apple announcements?

- WWDC got all abuzz

- VR Headset (success where others have failed?)

Binance

- The Securities and Exchange Commission filed 13 charges against Binance , the world’s largest crypto exchange, and its co-founder Changpeng Zhao, alleging that both comingled billions of dollars worth of user funds and sent them to a European company controlled by Zhao.

- The U.S. regulator alleged that Zhao and his exchange worked to subvert “their own controls” to allow high-net-worth U.S. investors and customers to continue trading on Binance’s unregulated international exchange.

- Seems all these have some bad dudes running the company -

-- Bitcoin was down 7% on the news and the USD running (at the same time)

---Other cryptos also falling

OPEC Cutting Production

- Not really - Keeping production targets overall

- BUT Saudi Arabia is actually doing volumtary cuts - that was enough for markets - push up oil a bit in the overnight sessions.

---- CLOSE to unchanged by midday.

Married to AI - Gone  too far?

- Rosanna Ramos, 36, from the Bronx, New York, has said she has tied the knot with virtual partner Eren Kartal after using online app Replika AI to create him.

- "I could tell him stuff, and he wouldn't be like, 'Oh, no, you can't say stuff like that. Oh no, you're not allowed to feel that way,' you know, and then start arguing with me," she told the Daily Mail. "There was no judgment."

- Replika AI markets itself as a way to make an AI best friend and confidante to chat with at any time.

- For a one-time $300 fee, users can upgrade to Replika Pro.

- This expands the capability of the language model and even gives the ability for the purchaser to change the relationship status to "Romantic Partner".

- The company have overcome a number of difficulties to develop the intimacy aspe...