Income Growth & Labor Market - JP Morgan Chase Institute's report indicates tepid income growth overall, with a recent decline, particularly among younger consumers [3] - Younger workers are experiencing less income growth compared to previous years, leading to reduced purchasing power [4] - Lack of job mobility among younger individuals suggests uncertainty in the labor market, potentially influencing employer investment decisions [9][10] - Job turnover, driven by individuals seeking better opportunities, can be a positive indicator for the economy [11] Consumer Spending & Economic Implications - Chipotle observed a pullback in spending across all income groups, with the 25-35 year-old demographic being particularly affected [1] - The struggles of the younger population serve as a signal for the overall state of the labor market [2] - Income is a primary driver of spending, with savings and investment also playing a role [5] - Increased investment by young people may reflect rising asset prices, such as housing [5] - Disparities in asset ownership (stocks, housing) contribute to spending differences between younger/lower-income and older/higher-income groups [6] Forward-Looking Perspective - The analysis focuses more on explaining past trends than predicting future outcomes [8]

And now, as part of this week's CNBC Technology Executive Council Summit, I spoke with Wikipedia founder Jimmy Wales about trust in the time of AI. He said, "Too often AI models hallucinate. Don't cite their work and act as if that's not a problem. If you like a certain TV show, you can go and chat with it about what other shows you might like, and you're probably fine. And if it makes up a show out of thin air, and that's happened to me, I was like, "That show sounds really interesting. " And then I I'm li ...

AI Spending & Tech Stocks - AI 支出正在增长 [1] - 科技股最近有所上涨 [1] Market Strategy - 讨论如何应对这种“投机狂热” [1]

AI Capex and Hyperscaler Dynamics - Hyperscalers are experiencing a rising tide, with Meta showing potential at a better rate [3] - All four major tech companies (Meta, Amazon, Google, Microsoft) possess the capital to build data centers and train AI models [4] - These companies are building "reasoning machines" by combining models, context, and data [5] - The industry is still determining which companies are building superior AI chips for operational advantages [6] - The industry is shifting focus from topline growth to operational efficiency and cost [7] Company-Specific AI Strategies - Google has shown strong progress with its Gemini models [8] - Microsoft's partnership realignment with OpenAI positions it well for the next 5+ years [9] - Amazon's relationship with Anthropic and its Bedrock offering provide price, convenience, and selection for building reasoning machines [10] Nvidia's Dominance and Market Demand - Overwhelming demand for AI and data centers benefits Nvidia, despite companies developing their own chips [11] - The five companies that announced earnings this week are projected to spend over $500 billion on capex next year [11] - Nvidia's strength lies not only in GPUs but also in CUDA and its investments in private companies [12] - Nvidia and Intel are partnering to facilitate growth, as CPUs are needed alongside GPUs for reasoning machines [12]

Funstrat's Tom Lee. He joins me now. It's good to see you as always.Welcome back. >> Great to see you, Scott. >> I'm going to take issue like I did last time with an a comment that you gave to our producers, Tom.You think it's still the quote most hated rally. I I just don't know how that still holds water given where we are. I mean, I I I interview people all day every day.I've got no bears around. Well, um I mean maybe some of the bears have gone to hiding Scott, but because the last time we talked, I wan ...

Well, joining us now is the Wall Street Journal sports columnist Jason Gay. It's great to have you on. You've been writing some thoughtful columns about this topic which has really captivated people this week.Welcome. >> Thank you for having me. >> It's funny.I I see some people suggesting that now that the governor down there has injected himself into this whole process, what coach is going to want to be the head football coach at LSU. Now, >> it's a fair question and and I'm I'm shocked to be saying this, ...

Let's bring in now our panel. High Tower Stephanie Link, a CBC contributor. So is Big Technologies Alex Canowitz.They're both here at Post 9. It's great to have you both with us. Um Steph, your your biggest takeaway from what you got this week as a shareholder in Amazon, as a shareholder in Meta, and now for the first time ever a shareholder in Microsoft.Welcome. >> Thank you. Well, expenses are going up, but we are also seeing substantial growth across every one of these companies.And earnings estimates af ...

report. Our next guest also raised his price target on that stock. Morgan Stanley's Eric Woodring, he joins us now at Post Nights.It's good to have you here as well. >> Thank you for having me, Scott. >> Um, is what's the takeaway from this.The the iPhone is back, albeit we still have questions about AI. >> Well, this was an exciting conversation about spending because actually Apple has been the one left out of this conversation. They just told us that December quarter operating expenses were going to go t ...

Francisco Leon is the CEO of California Resources Corporation. Joins us now for a Power Lunch exclusive and I think is this your first ever CNBC interview. >> It is. It is.Thanks for having me. >> Well, I'm I'm glad you could do it. Thank you for coming on.This is interesting. Um before we get into sort of your company in general, 550 a gallon. I'm driving around here.I'm thinking, okay, there's a refinery going to be shut down, I think later this year. They're talking about shutting down a refinery across ...

Today, Bitcoin rises to wrap the month of October. Coinbase earnings beat estimates fueled by robust trading volume. And Robert Mitchnik, head of digital assets for Black Rockck, breaks down the growth of the asset manager spot Bitcoin ETF, IBIT.Welcome to CNBC's Crypto World. I'm McKenzie Sagalos. Major cryptocurrencies are trading higher to close out the week and the month of October.As of noon Eastern, Bitcoin and Ether climbed more than 2% with Bitcoin rising to the $110,000 level and Ether moving close ...