Investors are about to wrap up an unusual week in the stock market, when surprisingly strong job gains for January and an easing annual rate of consumer-price inflation failed to erase jitters about artificial intelligence’s capacity to destroy industries.
Worries about this impact from AI remained in place during the early part of Friday, with stocks switching from early losses to gains despite a January
consumer-price index which showed the annual headline and core rates of inflation dropping — the latter of which fell to a five-year low of 2.5%. Ordinarily, a CPI report that comes in either as expected or softer than anticipated tends to be seen as good news, particularly after Wednesday’s January nonfarm-payrolls report showed the U.S. added 130,000 new jobs for the biggest gain in 13 months.
Investors see hope in the economy despite AI fears igniting a turbulent week for markets
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Investors are about to wrap up an unusual week in the stock market, when surprisingly strong job gains for January and an easing annual rate of consumer-price inflation failed to erase jitters about artificial intelligence’s capacity to destroy industries.
Worries about this impact from AI remained in place during the early part of Friday, with stocks switching from early losses to gains despite a January
consumer-price index which showed the annual headline and core rates of inflation dropping — the latter of which fell to a five-year low of 2.5%. Ordinarily, a CPI report that comes in either as expected or softer than anticipated tends to be seen as good news, particularly after Wednesday’s January nonfarm-payrolls report showed the U.S. added 130,000 new jobs for the biggest gain in 13 months.
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