Good morning. Markets are decidedly mixed … and I use the word “decidedly” on purpose … as investors have driven up the Dow this morning by shifting some investments away from AI-related issues … for the moment at least. Why is there any concern over AI? Debates have begun over the spending … as Oracle disappointed “the street” by announcing AI-related expenses to be quite a bit above expectations. But what can go wrong? AI is everywhere … and Time just nominated “The Architects of AI” as its “Person of the Year” … as cash flow proponents certainly don’t seem to have been on the judging panel. There is some good news … maybe … on the housing front as CNBC reports home prices showed a slight decline over the last 12 months … and while potential buyers might like to see this news, there probably aren’t many homeowners who are cheering … suddenly having less equity in their homes. Lilly continues to broadcast positive developments surrounding its weight-loss drugs and today reported use reduces knee pain. I don’t know, but this seems obvious … as carrying even 30 extra pounds around your belly is akin to constantly carrying around fifteen 2-pound chickens … which certainly must add wear and tear to your knees. We reported Australia is putting age limits on social media use and now Denmark … that’s right … liberal, anything goes, Denmark is doing the same. The problem? Kids are resilient and word has gotten out that frowning in front of the camera completely fools the computer and defeats the age check. On a final note for today, a woman in California had a baby in a car. While this is normally not a news story, the interesting thing here is she was in a driverless Waymo (making you wonder why she wouldn’t have called an ambulance). But the story is more interesting than even that … as the “car” knew there was an issue based on cameras and microphones inside the vehicle and alerted 911. PS: yes, the car was cleaned afterwards. That about wraps it up for today as I just received notice we might get a little snow … even as warblers and orioles are still occupying birdhouses in our yard. Being brought up in an area with plenty of seagulls, I learned one important lesson when it comes to birds and winter, and that is … never to catch snowflakes with your tongue until birds have already gone south. Have a great day, Joseph G. Witthohn, CFA Have any questions? Please contact info@teamemerald.com
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