Good morning:.

Business news stories appear to be taking on the tone that there is reduced need for the Fed to announce anything rash (my word) at their end-of-October meeting as an inflation number out this morning came in quite a bit lower than what most anticipated.  What is being presented is how far under expectation this was … so we can expect to soon hear voices from the White House claiming the inflation monster has been defeated … while others (keeping an upcoming election in mind) will point out prices are still rising and it is only their team able to permanently put out the flame.

And market reaction to the news?  At the moment we strain to hear a collective yawn as major U.S. indices are only slightly up on the day.

It really does seem main drivers for markets over the next few weeks … leading up to the Fed meeting and then midterms … will be earnings that will soon trickle in  … and, of course, the continuing situation surrounding Iran and oil prices.

But one thing I like to see is a “good” story … away from business news … and one certainly caught my eye that took place at the end of last month.

A missing boy … 6-years old … a “non-verbal” child with special needs … was missing in Delaware … and searchers were unable to locate him.  Fortunately, a “K-9” unit was called in and shortly afterwards … thanks to the scent given off by one of the boy’s sneakers … a dog was able to lead the search team to the boy, and he was safely reunited with his worried family.

A friend, John Thompson, for the past 25 years has sponsored a fund-raising event for an organization called “Canine Partners for Life” in honor of a friend’s son who was left paralyzed after a lacrosse accident … and benefitted greatly upon being presented with a service animal.

We should all be grateful of the pets, trainers, those who donate … and especially those who give much of their free time … to help improve the lives of others in need … asking nothing in return.  For them, heaven holds a special place.

Sorry … I was just struck by the story of this missing boy and the fortunate, happy result.

Just one final note today … which followed a meeting yesterday between the President and leaders of many tech firms.

“AI” might not be around much longer … but not because of anything bad happening with the Large Language Models. … as the only effect might be regarding the name.

The President yesterday announced that AI (AKA. Artificial Intelligence’) will now be officially called “SI” (Super Intelligence) in all government notifications … noting how he feels it is vital for the country to “advance its economic and global dominance.”

Sure … some will complain … and calling it “SI” will result in quite a bit of confusion around the globe …

… but one thing where there will be quite a lot of anxious anticipation …

… will be over what the next SI Swimsuit Issue will look like …

Have a great day,

Joseph G. Witthohn, CFA

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