Here are five things you need to know this morning.
Markets are under pressure as the takeaway from yesterday’s U.S. Federal Reserve rate decision was pretty clear. While they kept rates unchanged, they also kept in place another rate hike for 2023. The “dots” also implied less easing for next year. Only 50 basis points of cuts versus the previous 100 basis points. I won’t get cute, it was a hawkish pause and markets are reacting in kind. Meanwhile in the U.K., the Bank of England surprised the markets by not holding on rates.
What has Splunk got to be worthy of the splurge? I’ll give you three guesses, but you only need one. The magic two letters: AI. Splunk uses AI to power a bunch of cyber security offerings. Now, while the deal is a nice premium to yesterday’s close, it is well off the peak for the shares in 2020 of more than $220 per share.Shares of Broadcom are under pressure after reports say Google wants to move away from using their AI chips.
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