ASX to open lower on Friday despite tech-led Wall Street rally
\nAlphabet traded 5pc higher after the rollout of Gemini, its new AI tool
\nWe look at how Gemini can outperform ChatGPT<\/p>\n
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Aussie shares are poised to open lower on Friday, despite a rally on Wall Street. At 8am AEDT, the ASX 200 index futures was pointing down by -0.2%.<\/p>\n
Overnight, the S&P 500 rose by +0.8%, the blue chips Dow Jones index was up by +0.17%, and the tech-heavy Nasdaq surged by +1.37%.<\/p>\n
US traders reacted to the weak jobs data<\/strong>, which showed that the number of Americans filing new claims for unemployment benefits increased moderately last week. This could signal that higher rates have done the job in curbing the broader economy to a soft landing.<\/p>\n However, experts reminded investors not to be complacent.<\/p>\n \u201cRate markets priced for deep cuts in early 2024 may get a shock next week if the Federal Reserve reiterates that it will keep interest rates at their peak well into next year,\u201d said \u00a0Ira F. Jersey\u00a0and\u00a0Will Hoffman, strategists at Bloomberg Intelligence.<\/em><\/p>\n To stock news, a\u00a0rally in megacaps<\/strong> spurred speculation the artificial-intelligence (AI) boom<\/strong> will keep fueling market gains.<\/p>\n Alphabet<\/strong> shares surged more than 5% following the rollout of Gemini<\/strong>, its new AI tool. Google executives said Gemini could outperform ChatGPT in some areas (see more below).<\/p>\n Tesla<\/strong> rose 1.43% despite rumours that its Dojo supercomputer project lead, Ganesh Venkataramanan<\/em>, has left the company. His departure is seen as a setback to the automaker\u2019s self-driving technology efforts.<\/p>\n JetBlue Airways<\/strong> was one of the best stocks overnight, up 15% after narrowing its loss forecast thanks to recent strong travel demand.<\/p>\n Meme stock Gamestop<\/strong> also rose 10% despite a revenue miss in Q3.<\/p>\n \u00a0<\/p>\n About a year after OpenAI\u2019s\u00a0launch of ChatGPT, Google\u2019s Gemini<\/strong> has finally joined the competition.<\/p>\n Gemini is a large language model (LLM) that Google CEO Sundar Pichai<\/strong> says will revolutionise generative technology for business and daily life.<\/p>\n Google\u00a0claims\u00a0that Gemini Pro outperforms OpenAI\u2019s GPT-3.5, and that Gemini Ultra outsmarts\u00a0GPT-4\u00a0in most tests of its capabilities such as reasoning, math, and coding.<\/p>\n But according to a report from The Verge,<\/strong> Gemini\u2019s reported performance on those benchmarks is only narrowly better than GPT-4\u2019s.<\/p>\n Google\u2019s real edge over OpenAI however could come if Gemini Ultra is truly\u00a0multifaceted enough\u00a0to create original writing and images.<\/p>\n Or if it can come up with arts and crafts projects based on a photo of materials, or explain errors in handwritten equation.<\/p>\n As to what Gemini can do on a web browser, Pichai said it can look at what\u2019s on the web page and answer questions for you, and help you with tasks related to that.<\/p>\n \u201cYou can imagine looking at something you want to understand, like a set of figures on a web page, and saying \u201cquickly summarise this for me\u201d.<\/p>\n \u201cAll that is now possible. Again, it\u2019s this notion of being an assistant for the user to help them with what they\u2019re doing while they\u2019re browsing the web. All these are possibilities,\u201d Pichai said.<\/p>\n \u00a0<\/p>\n Gold price<\/strong> rose by +0.18 % to US$2,028.54 an ounce.<\/p>\n Oil prices<\/strong> gained 0.57%, with Brent now trading at US$74.43 a barrel.<\/p>\n US 10-year Treasury yield<\/strong> was up 2 basis points to 4.145%.<\/p>\n Iron ore futures<\/strong> rose +1% to US$134.40 a tonne.<\/p>\n The Aussie dollar<\/strong> lifted by 0.77% to US66c.<\/p>\n Meanwhile, Bitcoin<\/strong> fell -0.75% in the last 24 hours to US$43,345.<\/p>\n \u00a0<\/p>\n Oncosil Medical (ASX:OSL)<\/a><\/strong> Lincoln Minerals (ASX:LML)<\/a><\/strong> Queensland Pacific Metals (ASX:QPM)<\/a><\/strong> Dynamic Metals\u00a0(ASX:DYM)<\/a><\/strong> Xanadu Mines\u00a0(ASX:XAM)<\/a><\/strong> \u00a0<\/p>\n At Stockhead we tell it like it is. While Battery Dynamic Metals is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n <\/span><\/p>\n The post Market Highlights: AI stocks up as Google unveils ChatGPT\u2019s rival Gemini, and 5 ASX small caps to watch<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"How Gemini outsmarts ChatGPT<\/h2>\n
In other markets \u2026<\/h2>\n
5 ASX small caps to watch today<\/h2>\n
\nThe medical device company focusing on pancreatic cancer said the first initial commercial treatments involving the OncoSil device in Greece have just commenced at renowned hospital in Athens. The first two patient treatments completed yesterday see Greece become the third European country \u2013 after Italy and Spain \u2013 where commercial treatments utilising the OncoSil device have been completed.<\/p>\n
\nLincoln has increased its Kookaburra Gully Graphite Project (KGGP) resource by 87% to become the second largest graphite resource on the Eyre Peninsula. KGGP\u2019s overall Mineral Resource increased 87% to 12.26Mt at 7.31% total graphitic carbon (TGC). A three-month drill program will now commence, focussed on increasing confidence at the high grade Kookaburra Gully and Koppio deposits.<\/p>\n
\nQPM and Lava Blue have recently completed the first campaign of HPA Demonstration Plant operation, which successfully produced 62 kg, >99.99% of High Purity Alumina (4N HPA).The average purity across blends is approaching 5N (99.999%), far exceeding the 4N threshold. And 6 x ~10kg 4N HPA blends have now been transported to the US to provide to potential offtakers.<\/p>\n
\nFive RC drill holes have been completed to follow up on shallow nickel drilling results from first pass AC program1 at the LP1 and LP2 targets at the Lake Percy Project in the Goldfields Region of WA. Assays are anticipated to be received by end of January 2024, and incorporated into geological model to determine next program of work.<\/p>\n
\nXanadu reported a substantial increase in the Mineral Resource Estimate (MRE) for its flagship copper-gold project at Kharmagtai, in the South Gobi region of Mongolia. The updated Resource materially increases both the tonnes (12%) and contained copper equivalent (CuEq) metal (13%). This includes a 25% increase in the higher-grade component to >125Mt, which is expected to enhance project cashflows in the early years.<\/p>\n