Opening Bell: 5.10.24

UK exits recession with fastest growth in two years [BBC]
The economic system grew by 0.6% between January and March…. On Thursday, the Financial institution stated that inflation, which measures the speed costs rise at, would fall near its goal stage within the subsequent couple of months. That had boosted expectations of a fee lower in June. Nonetheless, the stronger than anticipated development figures have dampened these expectations.

Sam Altman takes nuclear energy company Oklo public to help further his AI ambitions [CNBC]
The corporate, which has but to generate any income, went public by a particular function acquisition firm (SPAC) known as AltC Acquisition Corp., based and led by Altman…. Oklo’s enterprise mannequin is predicated on commercializing nuclear fission, the response that fuels all nuclear energy vegetation. As a substitute of typical reactors, the corporate goals to make use of mini nuclear reactors housed in A-frame buildings.

There’s a surprising bit of good news lurking in the stock market [CNN]
The benchmark S&P 500 index has added roughly 13% on common throughout Fed pause durations, in line with LPL Monetary knowledge compiled by CNN spanning about 35 years and 6 stretches when charges have been on maintain. The S&P 500 has gained 14% in the course of the present interval, from when the Fed final hiked charges in July 2023 by Thursday’s shut.

Corporate America Is Sitting Out the Trump-Biden Rematch [WSJ]
Some CEOs are privately drawing up plans to inform workers to not anticipate feedback on political issues in all-hands classes. Others are reconsidering frequent election initiatives, corresponding to get-out-the-vote drives, fearing these could possibly be considered within the present second as partisan. Numerous corporations are additionally taking a more durable line on office activism after lengthy tolerating dissent….
“We’ve seen how emotional politics main as much as an election could be,” [Cisco Systems human resources chief Francine Katsoudas] stated. What “I might say to a pacesetter is, ‘Be there to assist your individuals.’ I don’t suppose IT’s smart for us to encourage among the debate as a result of IT is simply so private.”

IT-through-45776cca”>The SEC’s Gensler has an bold agenda. Will he have time to push IT by? [FN]
“We’re not performed,” Gensler added.

Finance/shares/dow-jones-stock-market-index-economy-a2a611ed”>The Dow Is a Horrible Index. However IT Is Telling Us One thing Essential. [WSJ]
The Dow is a measure of corporations that was once thought-about nice, whereas the S&P is dominated by corporations which might be at present thought-about nice…. When it comes to timing, the sensible transfer has been to promote shares chosen by the Dow committee at occasions of nice change. 

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