- AI company Anthropic has launched a powerful artificial intelligence model.
- Gilead’s vaccine, which is given twice a year to prevent HIV, has been successful in late-stage clinical trials.
- Amazon has replaced most of its plastic packaging with paper in North America.
Here are five important things investors should know before starting the trading day.
The S&P 500 briefly breached the 5,500 level for the first time on Thursday before falling back. The broader market index fell 0.25% and the Nasdaq Composite fell 0.79%. Meanwhile, the Dow Jones Industrial Average rose 299.90 points (0.77%), its best day this month. Despite turning negative on Thursday, the stock market is having a strong week after both the S&P 500 and Nasdaq set new records to start the week. Follow real-time market updates.
Jonathan Lahr | Nurphoto | Getty Images
This spring has seen a surge in new AI technologies, and the official start of summer looks to be no exception. AI company Anthropic unveiled its most powerful artificial intelligence model yet on Thursday. The OpenAI competitor unveiled Claude 3.5 Sonnet, saying it’s faster than its previous flagship model. Claude is a chatbot like OpenAI’s ChatGPT and Google’s Gemini, and all three have seen the technology explode in popularity over the past year. Anthropic also unveiled a tool called “Artifacts” that it says will help with code development, drafting and analyzing legal contracts, writing business reports, and more.
The logo of pharmaceutical company Gilead Sciences is seen in Oceanside, California on April 29, 2020.
Mike Blake | Reuters
Biopharmaceutical company Gilead announced that its experimental vaccine for preventing HIV was 100% effective in late-stage clinical trials. If approved, the lenacapavir vaccine would be administered twice a year, providing a longer-acting option that could reach people who can’t or don’t want to take medication every day. Gilead will need to replicate the results in a separate Phase 3 clinical trial before seeking FDA approval. If that trial goes well, the company could bring a vaccine to market as early as late 2025. The company’s shares rose about 8.5% to their highest price since 2022.
The Truth Social website on a smartphone in Brooklyn, New York City, USA, Friday, November 18, 2022.
Gabby Jones | Bloomberg | Getty Images
Trump Media, which operates the conservative social media site Truth Social, majority-owned by former President Donald Trump, saw its shares fall by about 15% on Thursday, intensifying selling pressure. The stock saw heavy trading volume on the day, with more than 13.2 million shares of Trump Media trading, more than three times the 30-day average. Meanwhile, Trump’s DJT shares, valued at more than $5.6 billion at the start of the month, fell to around $3 billion after the close on Thursday. Thursday’s drop came after the company said the SEC had declared its registration statement effective, allowing early investors in the company to resell certain shares and exercise stock options. Trump Media shares have been falling since May 30, when a New York jury convicted the former president on 34 felony counts of falsifying business records.
Paper trumps plastic. Amazon announced Thursday that it has eliminated 95% of its plastic air pillows in North America, the company’s biggest move to reduce plastic packaging to date. The company is replacing them with paper stuffing made from 100% recycled content. The company began its transition away from plastic stuffing in October when it unveiled its first automated U.S. fulfillment center that will eliminate plastic shipping packaging.
—CNBC’s Samantha Sabin, Hayden Field, Angelica Peebles, Kevin Breuninger and Katie Bartlett contributed to this report.
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