ABC News: Top Stories | Artificial intelligence could eliminate thousands of jobs in New York City: Report

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New York City Comptroller Mark Levin warned that artificial intelligence could displace thousands of workers in the nation’s largest metropolis as early as this year, while also acknowledging the technology’s potential to boost productivity and growth. In a city‑focused report adapting Moody’s national AI scenarios, Levin outlined five possible outcomes—from a moderate “AI‑empowered economy” adding about 52,000 jobs annually to a pessimistic “AI falls flat” scenario that could cost roughly 52,500 jobs in 2026—assigning each a likelihood and stressing the uncertainty of AI’s overall impact. He called for urgent local action, including a multi‑billion‑dollar financial cushion and policies that complement federal efforts, arguing that New York must actively shape its AI future rather than leaving the transformation to Silicon Valley or Washington.

Read more: https://abcnews.com/Business/artificial-intelligence-eliminate-thousands-jobs-new-york-city/story?id=133181521

#MarkLevin #NewYorkCity #WallStreet #AI #business

US Top News and Analysis | Why Nvidia's massive earnings report isn't driving the market higher on Thursday

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Nvidia reported a massive fiscal‑2027 first‑quarter earnings beat, posting record profit and revenue, a near‑100 % year‑over‑year jump in data‑center sales, an $80 billion share‑buyback, and a revised reporting format that highlighted its data‑center strength, prompting several Wall Street shops—including Bank of America, Jefferies, Bernstein, Wedbush and Evercore ISI—to lift their price targets. Yet the stock slipped about 1 % in early trading and the broader market showed only a muted reaction. Analysts attribute the lackluster response to investor complacency and a growing focus on memory‑chip suppliers (such as Micron, Synaptics, Samsung and Hynix) over GPU makers, as well as a generally low fear gauge (VIX around 17) and a market that remains near its all‑time highs despite high oil prices and fresh inflation data. The takeaway is that Wall Street may need to give more credit to strong corporate news while still accounting for prevailing risks.

Read more: https://www.cnbc.com/2026/05/21/why-nvidias-massive-earnings-report-isnt-driving-the-market-higher-on-thursday.html

#Nvidia #BankofAmerica #MorganStanley #SP500 #WallStreet

US Top News and Analysis | Walmart to report first-quarter earnings before the bell. Here's what Wall Street expects

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Walmart is slated to release its fiscal first‑quarter earnings before the market open on Thursday, with analysts forecasting earnings of 66 cents per share on about $175 billion in revenue. The report is expected to shed light on U.S. consumer health amid higher gas prices, a recent dip in sentiment, and broader economic headwinds such as sticky inflation and a global trade war. Investors will be watching whether Walmart’s growing base of higher‑income shoppers remains resilient, how lower‑income consumers are coping, and how the retailer’s higher‑margin advertising and marketplace businesses are offsetting any pressure on lower‑margin grocery sales. The earnings call will also address whether the boost from last year’s larger tax refunds—cited by peers as a spending upside—is fading, and what that means for consumer spending trends and overall economic momentum.

Read more: https://www.cnbc.com/2026/05/21/walmart-wmt-earnings-q1-2027.html

#Walmart #WallStreet #LSEG #MiddleEast