Live4 updates

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  Tue, 3 September 2024, 17:45 GMT+2

  Construction spending falls more than expected

  While Friday’s August employment report is the headline economic news story this week, Tuesday offered a glimpse into construction activity impacting the real estate market.

  The Commerce Department reported Tuesday that construction spending fell 0.3% in July, compared with no change in the previous month. Forecasts had called for spending to decline just 0.1%.

  The slightly larger than expected decline in spending is due to higher mortgage rates and greater supply.

  Due to weaker demand, construction companies have slowed down their new construction projects. Single-family home construction fell to a 16-month low in July.

  However, mortgage rates continued to fall in August as expectations grew of a rate cut by the Federal Reserve during the upcoming September meeting. Rates are expected to fall even further as potential homebuyers wait for better rates.

  Although borrowing costs are likely to fall, affordability remains an issue.

  Fannie Mae’s Home Purchase Sentiment Index, which measures consumer sentiment about the housing market, fell in July, reflecting how a lack of affordability is dampening housing activity.

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  Tuesday, September 3, 2024, 17:00 GMT+2

  Why we are not ready for the first presidential election in the age of artificial intelligence

  With the election just months away, generative AI detection technologies are a gamble. Experts say we can expect more generative AI-based content aimed at sowing discord among voters, reports Dan Howley of Yahoo Finance.

  The 2024 election will be the first U.S. presidential election in the age of generative AI, and we are already seeing examples of how the technology is being used to influence how Americans vote.

  On August 18, former President Donald Trump shared a series of AI-generated images of Taylor Swift fans wearing pro-Trump shirts, although the photos originally appeared in a post on X (formerly Twitter) labeled as satire. In January, deepfake calls were made to some New Hampshire residents in an attempt to dissuade them from participating in the state’s Democratic primary.

  “The danger is that if there is some kind of AI disinformation… like the Taylor Swift images… if millions of people are exposed to it and only 10 or 15 percent don’t realize it’s fake, that could be a significant number that we consider in elections,” explained Lance Hunter, a professor of political science at Augusta University.

  “In swing states, the margin is sometimes less than 1%, so if a small number of people are exposed to this disinformation and don’t realize it’s disinformation, it can affect the outcome of the election,” Hunter added.

  Read more here.

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  Tue, 3 September 2024, 16:15 GMT+2

  Stock trends in morning trading

  Here are some of the stocks leading Yahoo Finance’s trend ticker page during morning trading on Tuesday:

  Boeing (BA): The planemaker’s shares fell 6% on Tuesday morning after Wells Fargo cut its price target, highlighting the pressure on the company’s cash flow as it works to develop new planes. The company is also facing a major strike, with its workers in Washington state set to go on strike if no agreement is reached later this month.

  US steel (X): The steel producer lost nearly 4% after Democratic candidate Kamala Harris said the company should remain American-owned and continue to operate in the face of a planned takeover by Japan’s Nippon Steel. Republican candidate Donald Trump has also rejected the planned sale.

  NVIDIA (NVDA): Shares of the AI ​​chip designer fell 5 percent in morning trading on Tuesday, extending a downward trend that accelerated after the company’s earnings report last week that failed to impress Wall Street. The stock has fallen more than 10 percent over the past five days, underscoring a difficult moment for AI and chip companies that have faltered as questions from their customers about returns on investment grow louder.

  Unit (U): The video game software developer rose more than 7% on Tuesday after analysts at Morgan Stanley upgraded the stock to “overweight” from “equal weight,” citing the strength of its game engine business and Unity’s high market share.

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  Tuesday, September 3, 2024, 15:32 GMT+2

  Share prices fall in morning trading

  U.S. stocks fell on Tuesday at the start of September, a historically difficult month for markets, as attention turned to a week of jobs data culminating in a crucial monthly employment report.

  The Dow Jones Industrial Average (^DJI) slipped about 0.5% after a winning session before the Labor Day break. The S&P 500 (^GSPC) lost 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) slipped 0.8%.