MARKET RECAP → 📉US stocks finished Monday slightly higher as the markets set their sights on the Fed’s interest rate decision later this week. The US central bank is expected to keep rates unchanged on Wednesday, but investors fear that sticky inflation will force further rate hikes later this year.
MORGAN STANLEY’S TECH TWIST → 📈 Morgan Stanley (MS) pairs with OpenAI, pioneers human-chat AI assistant, revolutionizing financial advising and redefining client interactions.
MICROSOFT SHAKEUP 🔄 → Microsoft’s (MSFT) product maestro, Panos Panay, bows out, triggering a strategic deck shuffle and heightened anticipation for the upcoming New York Surface event.
Head of Investor Relations @ MoneyLion
🤖 Morgan Stanley’s (MS) AI Milestone: Morgan Stanley launched its generative AI assistant for financial advisors, developed in collaboration with OpenAI, offering them swift access to a database with over 100,000 research reports and documents.
🗣️ Chat like a Human: The tool requires users to ask questions in full sentences, akin to conversing with a fellow human, marking a departure from the keyword-driven queries typical of search engines.
🌊 AI’s Disruptive Potential: Recognizing AI’s groundbreaking potential, Morgan Stanley envisions a series of AI-centric solutions. Their current project, Debrief, aims to auto-summarize client meetings and draft subsequent emails, showcasing the transformative impact of generative AI on traditional banking operations.
🔄 Panos Panay’s Exit: One of Microsoft’s (MSFT) paramount figures, Panos Panay, the frontman behind Surface product announcements, opted to bid farewell to the tech giant.
🌐 Strategic Reshuffling: With Surface PCs lagging behind in sales growth, Microsoft reaffirmed commitment. Yusuf Mehdi, the longstanding consumer chief marketing officer, is set to spearhead Windows and Surface businesses, while tech virtuoso Charles Simonyi rejoined management.
📅 Imminent Changes: Amidst these leadership shifts, eyes were set on Microsoft’s imminent New York event, speculated to introduce the next-gen Surface devices.
Note: Do peek at Panay’s swan song on X (formerly Twitter), where he reflects on his 19-year odyssey with Microsoft, hinting at yet-to-be-disclosed future endeavors.
Apple’s latest iPhone pre-order data is ‘better than feared,’ Morgan Stanley says (CNBC)
The cable bundle of the future is officially here (The Verge)
How social media in the classroom is burning teachers out (Mashable)
UAW boss says workers shouldn’t accept lower wages so ‘greedy people like Elon Musk can build more rocket ships’ (Fortune)
Sam Bankman-Fried believes he is one of the ‘most hated people in the world’ as documents reveal his justification for FTX crash (Fortune)
Clorox products in short supply after cyberattack disrupts operations (CNN)
And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. 👇
Source: Wolfram Alpha. Note: The table above includes rough estimates and the actual monthly payments may vary based on additional factors such as property taxes, homeowner’s insurance, and other fees.