Microsoft made some baller moves over the weekend. What's going on? team? It's Ricky with Techb Solutions and this is everything that you need to know about what's going on with Open AI Sam Ultman and Microsoft So over the weekend on Friday if I'm not mistaken. Open AI famously known for their software of chat GPT let go of their previous and former CEO Sam Alman This came to a surprise by many and it was just something that was announced by some of their Executives that his communication was not up to par. Okay, they let him go now.

Microsoft is a huge investor for Open AI Now Microsoft Over the weekend announced that it was going to be hiring former CEO of Open AI Sam Alman as their new pretty much what would you call them like executive in in running their own version of artificial intelligent in the department of Microsoft Uh and this caught a lot of people by surprise. But again, imag. Imagine this: You're an investor in a company. They let go of their CEO and that company is doing so well and you respect that.

invest uh, that former CEO so much that you just end up hiring him on your own but then still invested in Open AI That's essentially what Microsoft is doing. there's still an active investor for Open AI but now they just decided to also, you know take on um Sam Alman who was the former CEO and co-founder of Open AI So um, that's pretty much the news that is coming from over the weekend. Uh, this is why we saw such a huge gap up during that pre-market session for Microsoft Which makes sense, but out of everything else, right? Microsoft Because of its market cap at $2.8 trillion I mean having someone running their artificial intelligence that is you know, formerly from Open AI which again was one of the most popular AI softwares out there. You know it makes sense on why Microsoft today is having a green day and because of its market cap.

Of course it's going to positively influence the rest of the market with it. but it it like when when I saw Meta this morning taking off right? or when I saw Tesla trying to take off and Nvidia trying to take off. That made no sense, right? I get the influence that it has to the overall Market But at the end of the day, all these other companies are pretty much just following the same momentum that Microsoft is today, right? So Microsoft has great news. the rest of the market really doesn't right looking at QQQ One thing that I do want to point out is that we are extremely close to making 52 we highs.

so we're at 38906 previous 52 we Highs are 38949 so you will. You can't be surprised if all of a sudden the NASDAQ Market just starts to Rally by the end of the day and just works towards making new 52 we highs. That's just been kind of like the market sentiment the market is pushing for. No other apparent reason other than it's on track to have a great performing day or great performing week or about to make 52 we highs.

Other than that, I Want to make sure that you guys are aware of what economic reports are coming this week. Tomorrow we have Fomc minutes, so this will give us a better understanding of how they came up with the last decision from the Federal Reserve of pausing interest rates this is going to be announced at 2 P.m. Eastern time I Want to remind you that this does not mean that Jerome Pow is going to be speaking This is just pretty much a recap. A summary on the last Fomc meeting of you know how they came up to the result of of only deciding to pause and not deciding to raise rates or not deciding to cut rates so that's going to be released at 2 p.m.

tomorrow I'll make sure that I keep you guys up today and other than that as of right now it just looks like the market is not pulling on back. It's holding above the moving average. It has tested the EMA line from time to time, but it's literally struggling to pull on back. So as of right now I would rather be someone that just prefers to stay cash because I just don't see the risk to reward ratios to be worth it.

You guys let me know down in the comment section what you think about the overall market and how you feel about the news of over the weekend with Microsoft's takeover of former open AI CEO Sam Alman So I appreciate your time. Hope that were thumbs up again! I Hope to see you for tomorrow's live trading session. That's the second link in the description down below And like always, let's make sure that we end the year on a green now! Take Care Team!.