AI Stock Trading Bot Failures

Today is Monday, July 24, 2023.

The Early Bird Index today is 59.17.

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AI Stock Trading Bot Failures

The recent influx of artificial intelligence–based bots for traders is a big problem, as explained by Dilutional CEO Alex Näslund in a new episode of the Early Bird podcast.

Definition: These AI trading platforms predict buying and selling patterns and then execute trades for users, Näslund explains.

But: Näslund said that these bots are not sophisticated enough to make the right predictions because they don't have access to enough market data such as press releases and fundamentals.

Powering the Story: As a solution, Näslund said that investors should reject these bots and focus on getting educated by staying up to date with press releases and other regulatory filings.

Final Thoughts: What advice does Näslund have for traders, particularly those who want to use AI trading bots? Find out by listening to a new episode of the Early Bird podcast. 

Notables

Notable Earnings Today: Domino's Pizza (NYSE: DPZ), Cleveland-Cliffs (NYSE: CLF), Applied Blockchain (Nasdaq: APLD), NXP Semiconductors (Nasdaq: NXPI), Philips (NYSE: PHG), Cadence Design (Nasdaq: CDNS), Bank of Hawaii (NYSE: BOH), AGNC Investment (Nasdaq: AGNC), Bank of Marin (Nasdaq: BMRC), Whirlpool (NYSE: WHR), Dynex (NYSE: DX), Logitech International (Nasdaq: LOGI), HBT Financial (Nasdaq: HBT), F5 Networks (Nasdaq: FFIV), Bank of Hope (Nasdaq: HOPE), Medpace (Nasdaq: MEDP), Brown & Brown (NYSE: BRO), Agilysys (Nasdaq: AGYS), NextGen Healthcare (Nasdaq: NXGN), Packaging Corp of America (NYSE: PKG), Range Resources (NYSE: RRC), Simpson Manufacturing (NYSE: SSD).

Notable IPOs Today: Warrantee Inc. American Depositary Shares (Nasdaq: WRNT), AEON Biopharma, Inc. (NYSE American: AEON).

Notable Equity Crowdfunding Campaigns Ending Today: Paint Nite (Republic), Tanbrown Coffee (Honeycomb), PÜL (Republic).

Notable Economic Events Today: S&P Global US Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), S&P Global US Manufacturing PMI (9:45 a.m. ET).

Chevron’s Record Production

Photo by Luis Ramirez / Unsplash

Chevron (NYSE: CSX) surprised its investors with preliminary financial results on Sunday, including a key leadership change.

Financials: Chevron reported earnings of $3.08 per share in the past quarter and revenue of $6.01 billion; both were better than expected.

Details: Production in the Permian Basin, which is in the southwest United States, totaled 772,000 barrels of oil per day. This represented an 11% increase and set a new quarterly record.

Also: Chevron announced Sunday that Eimear Bonner, who is currently vice president and chief technology officer, will succeed Pierre Breber as chief financial officer in March 2024.

Stock Price: Chevron is down 8% this year, but the stock is up 3% in the last 30 days.

Final Thoughts: It has been a rough year for oil stocks, but Chevron is still growing. The company reports full earnings on Friday.

Solana Could Jump, Analyst Says

Despite the price of Solana ticking down on Sunday, analyst James Mullarney reportedly said in a recent YouTube video that the cryptocurrency could surge following a future upgrade to Ethereum, according to Benzinga.

Final Thoughts: Solana, which has more than doubled in price this year, is still a volatile asset.

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Trends to Watch

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