TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Monday, November 20.
Full Video Transcript Below:
J.D. DURKIN: I'm J.D. Durkin, reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
Stocks are coming off a three-week winning streak as investors look ahead to a shortened trading week. Investors will be watching for the last of retail earnings including results from Nordstrom, Kohl’s, and Best Buy.
NVIDIA will also be a major focus when it releases results Tuesday – the chipmaker saw its stock rise 20 percent this year, its best year yet.
Sticking with tech - just days after being ousted from his CEO position at ChatGPT owner OpenAI, Sam Altman has a new home at Microsoft. Altman was tapped by Microsoft to lead a new advanced artificial intelligence research team.
Microsoft CEO Satya Nadella announced the hire on X, saying of Altman quote “I’m super excited to have you join as CEO of this new group, Sam, setting up a new pace of innovation,” and that the company looks “forward to moving quickly to provide them with the resources needed for their success.”
Altman had been the CEO of OpenAI since 2019, but was abruptly relieved of his position at a board meeting last week. Joining Altman will be another OpenAI co-founder, Greg Brockman. Brockman quit his role as president of the company after Altman was let go and is the startup’s biggest financial supporter. Microsoft is OpenAI’s largest stakeholder, having already invested $13 billion in the company.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m J.D. Durkin with TheStreet.
