CNBC Daily Open: Wall Street on edge over Fed's key inflation gauge
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
Markets decline
Wall Street ended lower Wednesday as investors anxiously wait for the personal consumer expenditures reading for January due today. The 30-stock Dow slipped 0.06% and fell for a third consecutive session, while the S&P 500 inched down 0.17%. The Nasdaq Composite fell 0.55%.
Google's Gemini problem
In a memo to employees, Google CEO Sundar Pichai addressed the company's artificial intelligence blunders. This comes after the tech giant was forced to take its Gemini image-generation feature offline for further testing. Pichai called the issues "problematic" and said they "have offended our users and shown bias."
Apple bets big on AI
Apple CEO Tim Cook said the iPhone maker is "investing significantly" in artificial intelligence, while teasing a major announcement which he gave little details of. "Later this year, I look forward to sharing with you the ways we will break new ground in generative AI, another technology we believe can redefine the future," Cook said.
Disney's India merger
Walt Disney and Indian conglomerate Reliance will merge their Indian businesses in a $8.5 billion joint venture. Reliance, led by Asia's richest man, Mukesh Ambani, will control the JV and inject $1.4 billion into its growth strategy, upon completion of the transaction.
[PRO] A lesser-known pharma standout
Investors have been piling into major weight-loss drug manufacturers like Eli Lilly and Novo Nordisk. But fund manager Freddie Lait picked a lesser-known firm that also stands out: McKesson Corp — the