TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and OpenAI’s new AI-powered search engine.
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00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04A week filled with angst ended with smiles across Wall Street after a tame inflation
00:09report brightened the mood. Data released Friday showed prices easing closer towards
00:15the Federal Reserve's 2% inflation target. The report sets the stage for the Fed's two-day
00:19policy meeting next week. Trading will also be dictated by the latest employment report
00:24and the biggest earnings week yet. McDonald's, Microsoft, Meta, Apple and Amazon are some of
00:31the names to watch. In other news, OpenAI is launching an AI-powered search engine called
00:37SearchGPT to go head-to-head with Google. It will also compete with Microsoft's Bing,
00:43even though Microsoft is OpenAI's biggest partner. SearchGPT is on a trial run with a small group of
00:49users with plans to eventually incorporate some of its functionality into future versions of
00:56ChatGPT. OpenAI described SearchGPT in a blog post as, quote,
01:01a prototype of new search features designed to combine the strength of our AI models with
01:07information from the web to give you fast and timely answers with clear and relevant sources.
01:13Learning from past mistakes, OpenAI is getting publishers on board early in the process.
01:18News Corp. and The Atlantic have both signed on as publishing partners.
01:22SearchGPT will face competition from AI-powered search engines in the works from Google,
01:27Microsoft and Perplexity and AI Search Chatbot, backed by NVIDIA and Amazon founder Jeff Bezos.
01:36That'll do it for your daily briefing from the New York Stock Exchange.
01:39I'm Conway Gittins with the Street.