The Fed’s decision to halt monetary policy tightening and weak economic reports led to a significant upswing in tech stocks and the equity market. The unemployment rate for October increased, with only 150,000 jobs added, falling short of expectations. The labor participation rate also dropped to 62.7%. Weaker employment statistics and a drop in the ISM PMI Services sector indicated a slowdown in the economy and inflation, giving the Fed comfort in avoiding further rate hikes. The market gained 5.85%, with the Bot Index jumping 6.38%. Faro Technologies, 3D Systems, NVIDIA Corp., and NIO Inc. were among the top performers. Only three of the thirty-stock index recorded declines in share value, with iRobot experiencing a delay in its takeover by Amazon. Elon Musk’s statement about AI potentially making all jobs irrelevant raises questions about economic equilibrium and the future of employment.
Student robotics group solves problems by way of ingenuity
Butte Built Bots, an organization based in Butte County, California, aims to demystify robots and demonstrate to high school students...
