US senators are seeking to extend the retroactive payments timeline from six months to one year for the Social Security Fairness Act beneficiaries. According to UBS analysts, the disruption caused by AI could result in tens of billions in corporate loan defaults over the next year. In midday trading, biotech firm Moderna saw its stocks climb by 5%, while shares of Rivian Automotive, the electric truck manufacturer, surged by 26%. Conversely, DraftKing’s shares fell 13% due to disappointing revenue forecasts and Maplebear, the parent company of Instacart, saw its stocks slide over 7% after highlighting ’emerging AI-powered platforms’ as a potential risk, despite exceeding fourth quarter expectations. Additionally, Anthropic appointed Chris Liddell, a former CFO of Microsoft and a former Trump aide, to its board of directors. Roku’s shares jumped 8% following better-than expected Q4 results and strong future guidance. In January, inflation decelerated due to easing prices across a number of goods including food and gasoline. Finally, Venezuela’s oil revenue, which currently stands above $1 billion, will no longer be deposited in an account in Qatar. However, final numbers for Dow, S&P, and Nasdaq are not provided in the text.
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Senators call for longer timeline for retroactive Social Security Fairness Act payments
AI disruption could spark a ‘shock to the system’ in credit markets, UBS analyst says
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Anthropic taps ex-Microsoft CFO, Trump aide Liddell for board
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