UBS predicts AI boom could lift S&P 20% in 2024; Inflation data meets forecasts; Snowflake plunges on weak results and CEO exit
• Generative AI could boost productivity and fuel a 20% rally for the S&P 500 in 2024, says UBS • PCE inflation data in line with expectations; Fed speakers on tap • Snowflake shares drop 20% on disappointing results and surprise CEO exit • AMC beats revenue estimates thanks to concerts; stock still sinks • SEC reportedly investigating whether OpenAI misled investors