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Good morning. US stock futures traded flat in Thursday morning trading as investors await the latest jobs data and remarks by Federal Reserve Chair Jerome Powell.

🎥 Hollywood studios, actors reach tentative deal to end strike

📝 Our report: The curtain’s falling on the Hollywood strike saga! The SAG-AFTRA actors union announced they had reached a tentative agreement with Hollywood studios to bring an end to the second of two strikes that jolted the entertainment industry.

 🔑 Key points:

• The union said negotiators had reached a preliminary deal on a new contract with the Alliance of Motion Pictures and Television Producers (AMPTP) which represents Walt Disney, Netflix and other media companies.

• Members of SAG-AFTRA walked off the job in mid-July asking for and increase in minimum salaries, a share of streaming service revenue, and protection from being replaced by “digital replicas” generated by artificial intelligence.

• The breakthrough means Hollywood can ramp up to full production for the first time since May, once union members vote to ratify the deal in the coming weeks.

💡 So what: The resolution of the Hollywood actors strike is a blockbuster moment because it means the show will go on! An end to the strike is crucial to the entertainment industry ensuring that film and TV productions can resume smoothly without disruptions.

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 Thursday - Initial Jobless Claims (wk end Nov 3rd)

Friday - No Major Economic News

 📖 These are the best investing books of 2023

💸 Is FTX making a comeback?

🏠 Airbnb makes ratings, reviews updates

🤖 Amazon ramps us AI efforts

WHAT: Amazon is not messing around in the artificial intelligence space! According to company insiders, the company is investing millions and has set up a dedicated team to train an ambitious large language model (LLM) codenamed “Olympus” to compete with the likes of OpenAI and Google.

WHY: In an earnings call back in April, Amazon executives said the company would increase investments in LLMs and generative AI while cutting back on fulfilment and transportation in its retail business.

💰 EU lays down law on stablecoin issuers

WHAT: The European Union’s (EU) banking watchdog is busting out new moves for the crypto industry! The European Banking Authority is requiring that from June 2024, issuers if stablecoins backed by currencies have sufficient funds to fully redeem investors.

WHY: The EU said the aim of the new rules is to ensure that assets can be quickly sold to raise cash for paying redemptions even in stressed markets — key to stopping runs and contagion in a crisis.

🚙 GM recalls driverless cars

WHAT: General Motors Cruise division is staging a vehicular intervention, yanking back 950 of its autonomous vehicles following a crash involving one of its robotaxis. The company said the cars were being recalled because the collection detection subsystem may respond improperly after a crash.

WHY: Cruise said last month it would halt operations nationwide after California regulators suspended the robotaxi operator’s license saying self-driving vehicles were a risk to the public.

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