Fed Rate Outlook Shifts; Capital One Acquiring Discover; Black VCs Fund Diversity
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The odds of the Federal Reserve not cutting interest rates at all in 2024 are growing, contrary to past expectations of 3 rate cuts this year. Markets may have to adjust their expectations.
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If rates stay high, large cap stocks should be alright but bonds and real estate could struggle. The commercial real estate market in particular faces risk from debt coming due.
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Capital One is acquiring Discover Financial in a $35 billion+ deal expected to close in late 2024 or early 2025.
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A group of 58 Black venture capitalists is seeking to invest in and support underrepresented startup founders in the name of diversity and inclusion.
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Google is developing an AI model called Gemini 1.5 that can process multiple data types and underwent enhanced safety testing, upping the ante versus OpenAI.